There is always an opportunity to make a living as a landlord, regardless of market conditions. Like any other business the key to success is to get educated and develop a business plan. There are lots of resoures for the first step, indluding books, seminars, and mentoring. Give me a call if you'd like some suggestions.
Jim Robillard (512)413-9345
I work with several investors who buy single family homes (and rent them out) that cash flow.
You can keep adding to your inventory of homes over time and end up with a nice income stream. This works especially well with new homes. That way you don't have to fuss with remodel or repairs for many years and you have warranties that cover A/C etc...
I have invested in real estate all over the world and have helped others do the same. I am happy to say I have always done well for myself & my clients. Choose a Realtor that has experience and knowledge in investment and a track record for choosing the right properties.
Just another option you might consider to get started...
Let me know if you would like more details & info.
I'm here to tell you what I know!!
All the Best.
The cost of ownership is down, and rents are going up right now. It's a cycle, simple as that, and a striking point for investors.
It's in these rare real estate moments that the "Donald Trumps" are created.
80% of the worlds millionaires acquire wealth through real estate investing.
With that said, there are many different avenues of real estate investing and naturally they offer different types of returns.
Just need to know...
Do you have cash still, or would you be looking to finance this idea?
Are you employed now? Can you qualify for loans?
Then we can look at your leveraging capabilities and talk about the right direction of real estate investing that will best suite your needs and goals, because there are certainly different types of investments out there that can misguide you down a different path of "returns" that may not suit your specific needs.
You mentioned a desire for "cash flow" in your post, and I do know of a current cash flower in an area that is tough to find cash flow due to the higher demand in that area. (this is a good thing, by the way)
connect here when you're ready.
Wow you received great advice already. Another area you may interested in and in which I a familiar is the 78729 area. This area has a lot of duplexes and many investors have property in this area. You may want to consider purchasing foreclosed homes as well - to lease out. Be sure you obtain an experienced broker/agent to assist you in this matter.
Best of Luck
You have already recieved plenty of good feedback below. If you do elect to become a Landlord, make sure you are prepared for all the work that can come with it if your going to manage the properties yourself (ie. the phone call in the middle of the night to tell you the water heater/furnace quit working). I suggest becoming a 'sponge' and read as much as you can about being a landlord, marketing, eviction process, etc. prior to your first purchase. As with any profession, it's what you DON'T know is what can hurt you most. Also, talk to numerous RE Agents to find out who is most knowledgable about the areas your thinking to invest. Additionally, be willing to listen to Agent suggestions on different locations to invest. You might find that they know some things you don't that could make your more money in the long run.
Unless your buying these properties with 100% cash, you are going to have to be able to show a monthly income that will allow you to service your mortgage debt, taxes & insurance so I would highly recommend getting pre-approved for a loan before you go too far down the road and find out you don't qualify to purchase an investment property.
Lastly, I find that alot of investors have started off buying a duplex and lived in one side while renting the other. Not only is this a good strategy, but it also allows you to get a better interest rate and a higher LTV loan being an 'owner-occupant'.
Hope some of this helps. Good luck.
PS. I think 78727 is only going to get better as more and more folks that can't get into 78704 will look at 78727, so your already in a good area.
Take the time now to put a game plan together and you can accomplish your goals.
Good luck to you.
Yes of course. If you are considering financing them you could use the market rents as a wash against the proposed payment, but you have to be working and making enough to cover your current liabilities. A good percentage of my business is helping investors with financing, and I am seeing that a good number of properties in the austin area are cash flowing nicely. I have a lot of advice I could give you, but it is a bit much for this forum. Give me a call or email me and I will help you in any way that I can.
It is possible. Since mortgage lenders have tightened up on lending practices, less people are qualifing and therefore they have to rent something. Austin has historically been a great place to own rental property as the various colleges ensure a steady stream of renters. If I may be of assistance please let me know.
There are various opportunites to selectively purchase investments, for cash or with financing, that will produce a positive cash flow. It is important to prepare a business plan inclidung cash flow forecast when deciding whether "Landlording" is the right career for you. A licensed realtor, or a few well chosen agents, will prove to be an essential asset in this regard. I provide a "no cost" consultation for potential investors (whether they manage their properties or not). I'd like to speak with you at your earliest convenience to help you decide if you should pursue a career as an active investior/property manager.
Please call me or send an email to me at your earliest convenience. Thanks, Mike.
Century 21 HSK and Associates
Absolutely! With our current Buyers' market and creative purchase strategies available to and in use by successful Investors, you can begin to build your portfolio. Times change, as you've found out in a personally painful way, and investment strategies must change along with them!
I would be happy to talk with you and see how we could work together to help you create a plan to reach your goals!
Good luck to you in your new endeavor!
Keller Williams Realty
512 431 8318
Great question(s). This is a very important decission you are trying to figure out and it deserves a better discussion(s) than can be had in this forum. If you truely want to make an attempt at this change then give it the attention and time with a professional that can help you. I recommend that you select a few agents to interview so you can find someone that has the ability to work for you and the experience to help you.
I'd be honored for you to interview me and my team to see if we'd be a fit.
Contact me directly if you'd like to have a no obligation ~ no cost discussion.
512-709-6343 ~ email@example.com
Call ~ Text ~ Email I will respond as quickly as possible!
Peace in your home,
Doug Vogelsass, Realtor
Agents for Change
Cell: (512) 739-0457
eFax: (918) 513-5112
15% of our net agent fees at the closing of our client's property will be donated to a charitable organization of their choice. We do this with ALL clients. This is our way of expressing our appreciation to both our clients and the worthy causes dedicated to the betterment of our communities.
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Austin, TX 78746
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