RRR Austin

Friday, September 22, 2006

Investor's Already Pouring into Austin, Here's another group...

An LA development firm just bought 20 apartment complexes in downtown Austin. The plan on fixing them up to help them perform better.

The key outlook for OTHER investors to learn from here stems from what one executive from the purchasing company said. "We look for markets that are improving, that are turning around from an event that happened previously that had negatively affected the market," the executive says. "We see Austin coming back and we're definitely bullish on that market.

Taking a look at previous posts, you can see that trend is backed by additional jobs, angel investors, and better infrastructure.

Don't be fooled however, there is still plenty to buy up in the Austin Area... just beware of Texas' high property tax particularly when looking at Single Family Dwellings. The Property Tax could negate any Cashflow potential, or even prove a negative cashflow situation.

Just factor that in when looking at the market in TX.

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