Home Buying in 78132>Question Details

Jeff November, Home Buyer in California

New Braunfels real estate model home purchase?

Asked by Jeff November, California Fri Apr 18, 2008

I am looking at buying a home off of a builder and then leasing it. It is on 1.3 acres. 4 beds, 3baths, 3200sq ft which includes garage footgage. It is 1 year old and never lived in and furnished. 390k is the price Do you think it will hold this kind of value for the next 2 years and be desirable for resale at near this price? It is a smaller home to others on the street Riverchase Way? Will it easily Lease and for how much I wonder?

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Hi Jeff,

River Chase has been very tough on resale over the past couple of years. I can provide detailed stats if you'd like. Because there are many homes for sale, plus they are still building in that subdivision, we are seeing very long days on market and somewhat stagnant sales prices. I believe that if you are looking for strong resale value, you would need to hang on to it a bit longer than 2 years.

The ease of leasing it greatly depends on 2 things: 1) how much you want to get for it and 2) what length of lease are you considering? Short term leases tend to appeal to the luxury home renters, as many of them are relocating and scoping out the area before the buy, or are building a home and just waiting for it to be completed.

If you would like stats on the resale value, just let me know. Aja.Edwards@ERA.com or 512-426-4231.
If you would like a complete rental analysis, Georgia Hanson is our Property Manager and she can be contacted at Georgia.Hanson@ERA.com.
2 votes Thank Flag Link Fri Apr 18, 2008
You need to work with a real estate agent that can run the comp's on a property for lease and sales. Never purchase a property from a builder, for sale by owner, from another agent unless you have a real estate agent who represents you

If this is your first real estate investment for lease then that lease amount is extremely high per month for a $390K home I would put all the figures down for lease prior to purchasing the property.

I am a Texas real estate agent, Texas investor, loan officer before I purchase any property I know all the facts, each second the house sits on the market vacant I lose money, till I have a tenant. Most of my properties stay on the market for approx. 24 hours.
Web Reference: http://www.lynn911.com
1 vote Thank Flag Link Fri Apr 18, 2008
Model Home Leasebacks can be very profitable if the lease is structured correctly. Keep in mind that the overall value of a model home leaseback is only partially in the initial price of the home.
0 votes Thank Flag Link Tue Apr 22, 2008
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