Well if you’re reading the Wall Street Journal you saw an article today titled “Investors Pile Into Housing, This Time as Landlords”.
This is something that we have seen increasing in Austin for some time. The statistics are clear but just for those of you that haven’t been reading the news we’ll give you the highlights.
There is a shortage of housing. Building have been holding back and so have buyers. Now buyers are starting to reach out and purchase homes, move out of their parents homes and others are moving up. Real estate has always been a great investment vehicle but the average American is starting to wake up the fact that no one is paying for your 401 K while renters may pay your mortgage.
There are some risks and you’ll need to have some capital saved before entering into this endeavor. However with all that said show me another city with the demand of Austin, Texas, the economic forecast of Austin and the shortage of real estate all while people are flocking to the city.
If you’re looking for a home in South or Soutwest Austin under $200K forget about it. If someone is foolish enough to sell right now and not ride the wave, there will be multiple offers before noon. Just put out a coming soon sign and see how many people knock on your door. Can’t afford $200K. Not a problem, check out the suburbs. Round Rock, Pflugerville, Kyle, Buda, Cedar Park, Leander, Georgetown and more are all excellent cities with plenty of opportunity and strong demand.
Our job is to help you build wealth through acquisitions and management of residential real estate. Call us today to get started toward your retirement. www.1836propertymanagement.com