Investment Real Estate

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In a move that is already impacting nearby retail and residential neighborhoods, HEB Grocery Co. has announced plans on a new South Austin HEB store near West Slaughter Lane and the I-35 frontage road. If updates to the site plan are approved by the City of Austin, the 139,000-square-foot store, car wash, and gas station are slated to open in late 2019 or early 2020.

The 8801 South Congress Ave. store is expected to profoundly impact the trajectory of future retail and residential developments in the immediate area, including “South Congress Station,” a shopping complex across the street at 9000 South Congress Ave. Anchored by a Gold’s Gym, other tenants include Pet Supermarket, a Schlotzsky’s sandwich shop, and Deca Dental, while lease

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As the city of Austin vies to become the new home of Amazon’s HQ2, we’ve heard questions from residential investors and potential investors wondering how the tech giant will affect Austin-area home prices and rents.

First and foremost, the Amazon effect is real. In Seattle, Amazon’s hometown, the now-booming tech giant spiked housing prices and gentrification. From 2005 to 2015, Seattle’s median rent went from $1,008 to $1,286 – three times more than the national median. Housing has experienced an even more drastic increase as recent data shows Seattle’s median home price hit $777,000 in February – an 18 percent increase from the year before. 

Rents and home prices will increase no matter which city Amazon chooses, but some metros will change

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The highly-coveted U.S. News & World Report ranking for the Best Place to Live in the Nation has been released and, what may come as no surprise to many, Austin claimed the No. 1 spot – for the second consecutive year! According to the publication, “People are drawn to the Texas capital’s music, outdoor spaces and cultural institutions.”

Of the 125 cities included in the ranking, the best place to live was determined by the following five factors: desirability, value, job market, quality of life and net migration. Overall, Austin scored a 7.7 out of 10. Here’s the breakdown: 

Desirability: 8.9
Value: 7.1
Job Market: 7.4
Quality of Life: 7.1
Net Migration: 9.4

These factors show which cities in the world offer residents the most fulfilled life –

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Major real estate plans are taking shape from Robinson Ranch to The Domain. Developments going up in this area – north of U.S. Highway 183 – have expectations to create the vibrancy of downtown Austin without the cost. What can we expect? Here’s a look at the latest details: 

Photo courtesy of Austin Business Journal. 

Robinson Ranch, 7,000 acres of land in Northwest Austin, is considering multiple development opportunities. In fact, the Robinson family attorney, Richard Suttle, confirms the zoning for Robinson Ranch allows for a development denser than that of downtown’s Central Business District and enough room for more than 10 Domains. However, no decision has been made. The family is still getting organized and looking at longer-term

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Growth and expansion is the name of the game in the vibrant and booming Central Texas area – none more so than Austin. The population increase signals one thing: more developments are coming. The Saint Elmo Public Market is one of those projects. And, it’s expected to open this summer!

 

In the works for some time now, Saint Elmo Public Market, located off South Congress Avenue in South Austin, is a place to shop, eat, meet and work. Here, strangers become friends and a neighborhood becomes a community. Once complete, the project will feature office buildings with ground level retail space highlighting vendors who wish to showcase their creative goods and services, apartments, a marketplace, and extensive parking structures. The developers of the

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Update:

According to recent information provided by the Austin Business Journal, rezoning, permitting, along with possible removal of the current 1,000 apartments could likely take at least three years. Once construction begins, the Project Catalyst is expected to be built in five phases with five-year breaks between each phase to allow for immersion – taking a total of three decades to complete. 

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Jumping into the Austin development scene just six months ago was Project Catalyst, a massive mixed-use project at the intersection of East Riverside Drive and Pleasant Valley Road – basically next door to Oracle’s new Lakeshore campus. However, very little was known about the overall scope of the project.

 A still from the Project

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As a landlord, you need to be prepared for anything. While the vast majority of tenants will be quiet, clean and polite (for the most part); almost every landlord that has been around for a while will have a story about at least one tricky customer.

Whether you have a drummer in a rock band who insists on playing loudly into the small hours, a tenant who is flagrantly subletting your apartment or someone who thinks they’re entitled to redecorate the property… you need to be ready to respond.

Then there are the situations where the tenant is perfectly pleasant but you need to change the terms of your contract for whatever reason. Again, you need to know how to proceed in order to secure the best deal for everyone involved.

Fortunately, landlords

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Choosing to make an investment in real estate, especially rental properties, can be an incredibly rewarding decisions and business can scale rapidly.

Many investors start by purchasing a single rental property and leverage those assets into multiple properties creating a compound return on their initial investments. However, more property means more of a need for management of those properties. And as appealing as investing in properties can be, it takes a special type of person to be equally as passionate about managing them.

Property management can be incredibly time-consuming and very stressful, especially for newer investors. That’s why so many investors outsource their property management as soon as they can. Hiring a property management

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Ensuring that you’ve found a quality tenant often requires rolling up your sleeves and doing a little investigating of your own. The right information won’t just come to you, and unfortunately, the typical verification methods are rarely enough. It’s easy enough to falsify rental applications, and not always easily recognizable, so landlords need to do their own research and double-check the facts.

To start, always run your own credit report. It may seem like the potential tenant is helping you out by providing a credit report for you. However, this option leaves room for the applicant to doctor numbers. Don’t take the risk: Just run your own report.

Along those same lines, double check the proof of residency and proof of employment. Today, most

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Keeping rent prices at market value is as important to property maintenance as any other component of upkeep. Most rental property owners realize this is just a reality of the business. Unfortunately, tenants aren’t always as understanding, and they’re certainly never pleased. With that in mind, we’ve compiled a few key considerations and best practices for property owners to make the transition as smooth as possible.

Keeping Costs in Perspective

Costs don’t determine rent; costs determine whether or not property owners stay in business. Don’t forget that rent has as much influence on overall property value as maintenance and conditions. A property owner who allows rent to fall below market is essentially allowing their property to deteriorate, just

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