Wayne & Jean - Thank you! I am working on building a complete guide about investing in Austin. If you are able to, please read the other portions of this series that are completed.
This is a good overview of some of the different types of investment properties. There are often buyers who look at condos which are not as good an investment as the two kinds you mention, especially since there are homeowners dues to be paid and you are at the mercy of the board.
Jordan,
You've provided excellent information and I like how you utilized links for easy reading. This is a topic many people are interested in and you covered the information like a true pro!
Jane - Thank you! Yes, I too have seen a lot of people that consider condos for investment properties. In some places it works, in others not so much. We have a lot of students (50,000+) that live here throughout the year and they prefer to live close to campus. Condos that are near The University of Texas tend to command a premium rent because of this and the rent premium is high enough to justify the increased HOA fees.
Patricia - Thank you! This blog series barely scratches the surface of this topic. If you would like more information, there is a great blog devoted to this topic and nothing else available here: http://www.investfourmore.com/
Real estate investments offer the best return on cash than any other instrument but opportunity capital and cash reserves are essential to get started. Once attained, the next step is, as you outlined, getting a Realtor with knowledge and experience as a first step and meeting with a tax adviser or CPA to formulate a plan.
I wrote a guide for Investors and it has brought me a lot of business. Mine was more general and not as locally focused.
Jordan, This is a great introduction into investment properties. Your links provide answers to many FAQs. Congratulations on the feature!
Kimo - Yes, I absolutely agree with you, but in the long run. Real estate investing is an investment vehicle that requires a multi-year commitment in order to realize gains. This style of real estate investing is really intended for someone who wants to achieve wealth slowly. Having a tax advisor as part of an investment team is a great idea because they can help the investor to maximize their deductions. Actually, that would make for a great blog topic. Thank you for the idea! Also, I really like the name of your company!
Gene - Thanks for the comment. I hope this will as well
Although intended for someone investing in Austin, there are many concepts covered in this series that can be applied to any market.
Sharon - Thank you! I hope to significantly expand this topic over the course of the year as being committed to blogging is one of my goals this year.
Jordan,
This is a great post filled with lots of excellent resources and info. Thank you for posting it.