Real Estate Investors — Austin Deserves Serious Attention — BawldGuy Wish List
Posted @ 10:57 pm - Filed under Austin, Builders, Check This Out, Cool Info, Leverage
When we first decided it was time to get our investors out of San Diego and into areas much better positioned for both short and long term capital growth, we 
made a list of what we thought might be the perfect region. It was meant to describe what we hoped would be the best of all worlds. Any real estate investor will tell you, if they’re being honest, they have their own secret Wish List.
I have mine too. Of course, part of making out a list like that, is the hope it can come true. In the back of your mind, there’s that little voice telling you that somewhere there are properties described by what’s on the list. As you read this list, (which isn’t all inclusive, by the way) try to visualize what it would look like to you. Maybe you have a wish you think should be added.
Here’s mine.
Calling it a Wish List would be abusing understatement. (Full disclosure. 
)
Job creating economy with obvious diversification — not a single industry area.
Median home prices at levels affordable to the majority of the local work force. High rent to price ratios — Low prices with High rents. Apply Leverage while using fixed rate loans — break even or positive cash flow. High quality construction employing user friendly floor plans and great architecture.
See what I mean by Wish List? Doesn’t it remind you of what you might have told Santa as a six year old? And the list goes on.
Vacancy rates under 5% — Lease up periods taking 4-6 weeks or less.
Purchase terms including seller picking up at least some of buyer’s closing costs. Tenants with excellent credit and high paying jobs wishing to sign long term leases. A+ locations in high demand by owner-occupying home buyers. Upgraded counter-tops, molding, carpeting, landscaping, appliances, etc. Near modern regional malls catering to upscale shoppers — magnets for money.
Do regions like this even exist in real life? Who’s kiddin’ whom here? Since it’s a Wish List, we’ll keep going. The best part about wishing for something is knowing it might actually come true some day, right?
The surrounding neighborhoods should be much more expensive than ours. Commute time to and from work is 30 minutes or less.
Can be acquired below lender’s appraisal. Competing properties should sell for more, and generate higher rents. Crazy, insane curb appeal — it knocks the socks of all who drive up. World class university in the region. Multiple, high level, and diversified entertainment venues nearby. The name of the subdivision should be BawldGuy Estates.
Hey, it’s my Wish List. You can wish for what you want on yours.
The properties we saw Austin are just about what you’d get if my Wish List was converted into reality.
Window of Opportunity
No kidding — I was excited about a new region for the first time in, well, a long time. The window to invest in Austin, in my opinion is gonna be good for awhile, but not a long while. The timer was set awhile ago. Remember the last time you said to yourself, “I could’ve, and I should’ve, and next time I will?”
Do yourself a favor — don’t find yourself saying that about Austin.
You’ll not hear about specific properties or projects on this blog. I’m keeping our Austin discoveries so far under the radar, we’re gonna redefine the very concept of stealthy.
Yep, going to Texas was a solid move. Austin?
A Wish List come true.
This entry was posted on Saturday, October 13th, 2007 at 10:57 pm and is filed under Austin, Builders, Check This Out, Cool Info, Leverage. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
