Home Buying in Austin>Question Details

Aaa, Home Buyer in Austin, TX

I am looking for investment properties (apartment or condo) near UT Austin

Asked by Aaa, Austin, TX Tue Dec 27, 2011

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Dear Aaa,
Downtown and the University of Texas area continue to be a good bet. There is usually high demand to be central and close to UT and the nightlife and shopping downtown. I have a condo listed for sale in the UT area for $220K. It is an investment property, as it is currently leased through January 2013. If you would like information on this property or any others I would be happy to assist you. You may follow this link to veiw the details on 3309 Grooms, Unit 208. http://actris.mlxchange.com/DotNet/Pub/EmailView.aspx?r=1458…

"1940's charm with all the luxury and convienance of today. This property was taken down to studs in 2008 and redone top to bottom. New Electric, plumbing, all fixtures, solid Granite counters, SS Appliances, Stacked Washer/Dryer connections, totally redone bathroom with custom glass tile & product niches Large covered front porch.Original hardwood floors have been lovingly redone & sparkle! Great for investor or as alternative to lease for UT student. Only 4 blocks to UT campus!! "


Betina Foreman-Realtor, C.N.E.
Austin Home Girls Realty
1601 West 6th Street
Austin, TX 78703
0 votes Thank Flag Link Thu Dec 29, 2011
I'm not in the Austin area, although I know it is a great place to invest.

I am in the Dallas area, and there are some great places here as well. Finding something with a 10% return on investment is pretty easy, and depending on your circumstances and finances, finding 15-20% annual return is not unheard of.

If you have ever considered investing in Dallas real estate or have questions on the Dallas market, please feel free to give me a call or send me an email.

It's more than real estate. It's RAYL-Estate!

Brian Rayl
0 votes Thank Flag Link Wed Dec 28, 2011
Would you be interested in Downtown investment units? Not highrises but older condos in the right location.

Let's talk if you're interested.

George W. Hughes, Realtor
0 votes Thank Flag Link Wed Dec 28, 2011
Aaa, I and my Commercial Partner help Investors like you constantly. We can help you assess your specific goals(short and long term), financial situation, etc. and find and negotiate on the right Property(ies) that fit your needs and criteria. To help you properly, I suggest we meet and discuss all the details so we may best be of service(if you do not yet have a Realtor). We do NOT charge you for Buyer/Investor Representation and have an Excellent track record. I myself am a top ranked Realtor here in the Greater Austin area, am a Master Instructor who teaches Investment Startegies, Negotiations, etc., AND am also an Investor, and my Commercial Partner is a Certified Commercial Investment Member (CCIM), a VERY important designation for someone like you to utilize. (please 'google' it and you will see what I am talking about).
Please click on my name to the right and review my Credentials and Client Testimonials (one Investor/Testimonial, Russel G. has bought almost 30 great deals thru me, btw) and contact me to set up an appointment.
Joe Jarusinsky, REALTOR/Master Instructor, Keller Williams Realty, Austin's #1 Real Estate Co. (512) 261-4415
0 votes Thank Flag Link Wed Dec 28, 2011
1. Get Pre-qualified, in writing, documentation that proves you have cash or can get a loan needs to be presented with your offer.
2. Find an agent you like. There are many good agents in Austin.
3. Define your sear parameters and have your agent print out the properties which match your desires.
4. Start writing offers.
0 votes Thank Flag Link Wed Dec 28, 2011
There are several options to consider. A lot of them also are already preleased for the Fall 2012-Spring 2013 semester, so you wouldn't have to worry about that until next year. If you are looking to put someone in it yourself ( a child attending UT ) , I would suggest to act sooner than later to ensure it will not be leased for next Fall. Preleasing season is in full swing, typically starting in November for the following Fall. I have worked in the campus area for the past seven years and have extensive knowledge on all of the condo and apartment complexes in West Campus, North Campus and Hyde Park. I also have a good lender connection for financing purposes, if you don't already have someone.

Check web reference below for Central Austin Condos for Sale

Let me know if I can help and Good Luck to you.
0 votes Thank Flag Link Wed Dec 28, 2011
You might spend the 3rd Thursday of the month with the Austin Real Estate Networking Club. Lots of savvy investors, water cooler talk and the opportunity to ask questions and learn from a group that has decades of experience. Message boards are nice, yet you'll likely find most here want to help you make a purchase.

Good luck!
Web Reference: http://www.crowehomes.com
0 votes Thank Flag Link Wed Dec 28, 2011
Most important issue determine what you can qualify for which would govern how to work with a property search.
0 votes Thank Flag Link Wed Dec 28, 2011
Hi Aaa,

How close to UT?
East or west of campus?
There is a large inventory for this area, and depending on the location, we are talking a difference of $100K,
here the question arise, how much do yo want to invest?
is it for cash flow or building equity?

Albert Elhage, Broker
JB Goodwin Realtors
0 votes Thank Flag Link Wed Dec 28, 2011
I would be happy to help you analyze and show any investment property near UT. Also, feel free to visit my website's home page where there is quick link to show all available properties near UT.

Please feel free to contact me anytime.

Steve Nusinow
0 votes Thank Flag Link Wed Dec 28, 2011
That's a strange name, but if you are serious about investing, contact me to discuss. I sell and sold condos in the UT area as well as leased.

Vivianne Dordea
0 votes Thank Flag Link Wed Dec 28, 2011
I have just the thing.
10 unit complex.

Dan Crum
Ready Real Estate
0 votes Thank Flag Link Wed Dec 28, 2011
Hello Aaa,

I have a large inventory of investment home and projects located in St.Maarten, DWI with great ROI.


Incase you were wondering why Home Shoppers should BUY HOMES in the West Indies here is the

Information from: A Real Estate Professional to Buyer's/Homeowners

Here are all the PERFECT reason to BUY in St. Maarten (DWI of FWI)

Q: Do you have to be a resident, or do you need to obtain a special permit to purchase property in St. Maarten ? A: NO. Anyone can purchase property on either side of the island. There are no special laws or requirments that apply to foreigners who own property on St. Maarten / St. Martin.
Q: What kind of deed will I get ? A: There are three types of deeds in St. Maarten:
Fee Simple
Government Long Lease
Private Long Lease
All deeds are transferred at an appointed notary, and registered at the Kadaster Office (island registry)

Q: What is the normal closing procedure, and do I need a lawyer? A: Title is transferred through the office of an appointed notary. All notaries on island are of legal backgrounds and are appointed by the Queen of Holland. They serve as a neutral party between buyer and seller. The notary is also responsible for making sure title is transferred free and clear.
It is not necessary to hire an attorney for closing, and there is no need for Title Insurance either!
Closing cost is approximately 5% on the Dutch side and between 9 and 11% on the French Side.
Q: Do I have to be on island for the closing? A: No you can assign power of attorney for someone to sign on you behalf, this applies to both buyer and seller.
Q: Do I have to buy the property in my name? A: On the Dutch side it is possible to purchase property in the name of a local corporation, or an offshore corporation.
Q: How long does it take for a closing to happen? A: If bank financing is involved it could take between 4 – 6 weeks, otherwise in most cases closings can take place within a week or two.
Q: What about taxes ? A: On the Dutch side you are only subject to closing costs, which include all transfer fees, title search, and legal fees. THERE ARE NO ANNUAL PROPERTY TAXES, AND NO CAPITAL GAINS TAXES!!! However if you are using your property for rental purposes you are subject to income and profit tax.
On the French side there are annual taxes and capital gains taxes.
Q: Is financing available ? A: Yes, most banks on island will offer financing to foreigners. Typically they will finance between 50 to 65% of the market value.
Q: Can I get Hurricane Insurance ? A: Yes, you can get full coverage. A typical policy that covers you in almost every circumstance will cost you between 1 – 2 % of reconstruction cost.
Q: Can I rent my property when I am not using it? A: Yes, there is a good market for vacation rentals. Most rentals range from about $1,000 a week to well over $10,000 per week. The peak season for rentals is between December 15 to April 15. Sometimes its possible to purchase a property which already has a track record of rental history.

I stand by what I say
- "Leaving No Family Behind "

(721) 556 5472
Email: Ignacio.Realtor@yahoo.com
0 votes Thank Flag Link Wed Dec 28, 2011
Hi, my business partner, Stacey Nelson, owns property in the UT area and is very familiar both as an agent and personal investor so she is an excellent resource. We put together a spreadsheet to help you analyse and compare your investment opportunities. As an investor, it's all about the numbers in the end.

Give us a call and we'll be happy to help you in making a good investment decision.

Sue ELLETT , Broker -Associate
Web Reference: http://www.ppgtx.com
0 votes Thank Flag Link Wed Dec 28, 2011
In Austin, as in many other cities, the closer in to downtown and the university, the higher price per square foot you'll pay for a property. Let's say your budget is $180,000. You can get a pleasant 2 bedroom condo, maybe 700 square feet of space, just north of UT. Take that same $180,000 into a north Austin suburb and you can get a 3-BR executive condo with a private garage and granite counters, about 1200 SF. Which one is a better investment? Well, it depends on your goals and how long you plan to hold the property..... Guy posed some good questions to ask yourself before you start looking, whether it's a single unit or an entire complex you're after.

Your REALTOR can provide tax and historical rental and sales data for any neighborhood so you can estimate cash flow, vacancies, and appreciation over time based on past performance. We can't predict the future, but we can provide data so you can make informed decisions. Aaron is right about finding bargains in surrounding communities; however inventory of available rental homes is often bigger, and the pool of prospective tenants is often smaller in some of those outlying areas.
0 votes Thank Flag Link Tue Dec 27, 2011
Aaa, you will want to have some answers to these and other questions before you hire an agent / broker. .

1. What is your investment strategy?

2. What type of property(ies) are you seeking (a single condo or an entire complex)?

3. What price range?

4. How do you define an investment grade property?

You should do your homework before committing to a single agent / broker. Make sure he / she can prove to you he / she is either an active investor or at a minimum, has a good deal of knowledge in the investing arena.
Web Reference: http://www.phgbrokers.com
0 votes Thank Flag Link Tue Dec 27, 2011
You can also get a nice return on lease houses in south Austin, Buda, and kyle.
Most of my leads are rent houses. Section 8 is not a bad idea.
Web Reference: http://austinhomesguru.com
0 votes Thank Flag Link Tue Dec 27, 2011
There are a lot available and we can discuss your needs in greater detail to address the information required to find the right property via the telephone.
0 votes Thank Flag Link Tue Dec 27, 2011
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