If you live outside of Texas and are looking to buy Austin property, we can help you invest with confidence. We offer competent, honest and fiduciary representation to our international and greater U.S. real estate clients.
Buying property in Austin, Texas can be a successful investment strategy for your greater investment portfolio. Many out of town buyers come to Austin to invest in real estate as a way to hedge against inflation or currency exchange rates. Investment property can also provide monthly cash flow (income) and long term capital appreciation. You can find a place that works as a vacation home, a permanent residence, or as rental property.
I welcome your visit to Austin, but you can also purchase property remotely. You do not need to be present to buy homes in Austin. Most contract documents and agreements are completed with electronic signatures. In some cases, we may need to connect with a local notary in your area. If you are buying multiple Austin properties, I recommend seeking book keeping with an Austin based Certified Public Accountant and lawyer to develop a legal trust to contain and protect your properties.
Before selecting homes for purchase, I conduct an investment objective meeting with my clients. This can be done over cellphone, skype or email. The objectives of the meeting are to determine the unique financial goals of the investor. We also discuss housing availability, rental rates and speculative appreciation. In addition, each investor tends to favor different types of property. This may include older, inner city housing, gentrifying sections of Austin, stable or family neighborhoods or suburban sections. Each section of Austin has experienced different appreciation and rental expense rates.
1) Locate Austin property. You will get daily alerts from the Multiple Listing Service (MLS) via The Austin Board of Realtors. Morris Green Properties is also apart of several, local real estate investment networks that produce, trade and wholesale Austin property.
2) Analyze projected investment returns. We calculate your Return on Investment (ROI) with a proven solution that includes purchase and initial improvement costs as well as ongoing operation expenses (insurance, management fees, property taxes, vacancy rates, maintenance). We look at total expense and compare to current monthly rental rates. Our goal is to maximize rental returns while minimizing your expenses.
3) Place offer on Austin property. The competition for Austin property (low inventory and high demand) is resulting in multiple offers, often over asking price. I write offers to win. I do my best to determine sellers objectives so we can get property under contract fast.
4) Have property inspected by Texas State Licensed Property Inspector. I attend this for you and provide a written report of the findings. This costs the investor $350-450 but can help reduce risk of unknown structural deficiencies and other problems with the property.
5) Negotiate with Seller to correct any deficiencies found in Inspection Report. Sometimes sellers are willing to make minor repairs to the property before sale is complete. However, in Austin's highly competitive real estate market, Sellers are not always willing to make any repairs. Many homes sold today are being sold "as-is".
6) Complete remaining sales paperwork with title company. Secure loan or issue cash paid check from local bank. Convey legal ownership to investor.
7) Morris Green Properties immediately begins make-ready process. It could be a complete rehab or simple paint and carpet. Our goal is to make the property attractive to future tenant.
8) Market property for lease. Find qualified, credit worthy tenants to occupy the property. Move new tenants into property.
9) Move new tenants into property.
10) Investment returns begin. Property owners (investors) are provided a log in to Morris Green Properties owner portal to track rent payments, maintenance requests, and other expenses.
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