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Experts say bottom to lagging home sales is near.
March 24 2009 10:52
The National Association of Realtors reported on Monday that sales of existing homes rose 5.1 percent in February after a 5 percent decline in January. Home sales in the Northeast, South, West and Midwest all gained ground for February as buyers scooped up foreclosure properties.
“We are close to seeing a bottom in both new and existing home sales,” Michael T. Darda, chief economist at MKM Partners, wrote in a note to clients.
125 Abbott now in Featured Listings
December 31 2008 12:11
125 Abbott is now in our Featured Homes section. For property details, Click on 125 Abbott
Texas Becoming a Retirement Hotspot
December 29 2008 13:27
It may come as a surprise to many, but Texas is becoming a favorite retirement destination for many retirees. Central Texas is particlularly popular. Read the full report Texas Retirement Hotspot
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Real Estate Investment Opportunities
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There are many ways to make money while investing in real estate and we have a variety of investment opportunities for the savvy real estate investor. Probably the two more well known real estate investment strategies are rental properties and buying foreclosed homes. Pride of Austin Realty, LLC. will successfully locate rental properties that meet your investment strategy and handle the purchase transaction for you, but Pride of Austin Realty, LLC. is not a property manager. Rental properties are not always income generators and there are times when an investor ends up having to spend more to repair damages by tenants than the investor has netted on the property. Pride of Austin Realty, LLC. does not encourage this type of investment to meet the goals of most investors.
Purchasing foreclosed properties and flipping them seems like a good investment but this strategy normally requires a lot of patience, research and cash. There are many downsides to purchasing a foreclosed property. There is often no way of knowing the damage to the home until after you gain entrance into the home. There may be unpaid property tax liens or mechanics liens that are not disclosed by the trustee handling the sale. Once you purchase a property you would inherit those liens as well. Pride of Austin Realty, LLC. does not encourage this type of investment.
There are three real estate investment strategies that
Pride of Austin Realty, LLC. does highly recommend.
1. NEW CONSTRUCTION SPEC HOMES
Austin is a strong market and new construction in the central core of Austin is enjoying a steady market. There are almost no vacant lots in the central core available so builders are buying older homes that are often in disrepair but that are located on desirable lots and scraping off the old and building new. Pride of Austin Realty, LLC. is the marketing company for Pride Of Austin Homes, LLC.
Pride Of Austin Homes, LLC will partner up with an investor and build a home to be sold upon completion. The builder works on a split of the net profits with the investor after the project is sold to the end buyer. The percentage of the split of profits is determined by how much cash the investor contributes to the transaction and how much cash Pride Of Austin Homes, LLC contributes to the transaction at the closing table for the construction loan.
There are some lots where Pride Of Austin Homes, LLC can build two units for sale increasing the profitability of the project for the investor. Each property is taken in a case-by-case basis.
Please contact us for more information on this type of investment.
2. MORTGAGE POOL
Looking for consistent returns of 10%-12% annually on your invested principal? Just like the stock market there is no guarantee of the ROI (return of investment), however most mortgage pools are performing at return rates of 10% or better. Mortgage Pools are becoming the more desirable real estate investment for the future by taking advantage of the unique niche opportunities not being serviced by traditional banks.
Basically, a mortgage pool is an investment vehicle where investors desire to spread their investment (and thus the risk) over several loans secured with short term deeds of trust and mechanic liens. The minimum investment in a mortgage pool is $10,000.00. There is not a maximum investment.
Each investor has access to his or her own secure online account login area that details the status of their investment in real time. Quarterly dividend checks are either re-invested or directly wire transferred into the investor’s bank account, whichever the investor directs.
Please visit Pride of Austin Capital Partners for more information on this investment opportunity.
3. MODEL HOME LEASE BACKS
Many builders will sell their model homes to investors when they start a new subdivision. They then use the model home for their sales center and lease it back from the investor for specific period of time. Normally, the lease requires the builder to pay a rental amount that exceeds the PITI of the mortgage as well as frequently paying the property taxes and, at the same time, add the investor as an additional insured on their liability policy during the term of the lease.
Builders maintain their model homes in pristine condition because having an attractive model home is what helps them sell homes in the subdivision. Therefore, when the lease is terminated the investor can sell the property as if it is a new home. Pride of Austin Realty, LLC. has negotiated many model home leaseback transactions with area builders. Demand for these properties is extremely high.
If you are considering this type of investment then you would need to be ready to make a purchase within days of a model home coming on the market.
To better help us serve you, please Contact Us We will get back to you as quickly as possible!
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