Recent news in the Austin American Statesman and Austin Business Journal have announced plans by Kline Ventures to convert old apartments at 2020 South Congress into Condos for sale, priced between $96,000 - $196,000. In comparison with other condo units be built in the area, from the ground up the price is very appealing. Think about the options one could use these for (second home or lease property, within a stone's through from the entertainment area of SoCo. Now I have not done my full research on the project as of yet, but one could imagine a second home that can be rented to artists and festival goers alike while not in use. Or rented, and possibility of immediate cash flow with the right money down. All of us Austinites are well aware of the demand for affordable rental property in the area, and think possibly you might be able to make money to boot!
Check out the articles and feel free to add anything you might know about the project
http://www.statesman.com/business/content/business/stories/realestate/02/22/0222condos.html
http://austin.bizjournals.com/austin/stories/2008/02/18/daily26.html?surround=lfn
Friday, February 22, 2008
Thursday, February 14, 2008
Do you have an Investment Plan?
This is a question that many investors fail to ask themselves before jumping into arena of real estate investing. I can't count the number of people that I have told me they have lost, or were unhappy with their return in real estate investing. I ask what their plan was and they tell me their goal. What they failed to realize is that investing in real estate is a journey, not an event. You must plan to produce. Planning is the foundation of a succcessful journey.
It is important to note there are hundreds of ways to make money in real estate, some that fit your personality and comfort levels and some that don't. None are the best nor the worst. Some are meant for short term returns and some for long term. If you are new to real estate investing or own property without a plan, I recommend you read up. If you are not a reader, or feel that you learn better from experience, do yourself a huge favor and consult an experienced investor (or investment consultant). One great thing about most real estate investors and professionals is that they love to share their knowledge and experience. You will find that networking in Real Estate is extremely important and the successful investor already knows this. Become part of their network and add them to yours. If you happen not to know anyone in the business, find yourself a workshop or agent/mortgage broker/contractor experienced in real estate investing.
Even if you do neither, sit down and write out how you are going to reach your goal! Don't expect that investing in one piece of property will make you a millionaire, just as in the stock market, the savvy investor is the one that wins in the long run. Plan your journey and you will find success in real estate investing.
It is important to note there are hundreds of ways to make money in real estate, some that fit your personality and comfort levels and some that don't. None are the best nor the worst. Some are meant for short term returns and some for long term. If you are new to real estate investing or own property without a plan, I recommend you read up. If you are not a reader, or feel that you learn better from experience, do yourself a huge favor and consult an experienced investor (or investment consultant). One great thing about most real estate investors and professionals is that they love to share their knowledge and experience. You will find that networking in Real Estate is extremely important and the successful investor already knows this. Become part of their network and add them to yours. If you happen not to know anyone in the business, find yourself a workshop or agent/mortgage broker/contractor experienced in real estate investing.
Even if you do neither, sit down and write out how you are going to reach your goal! Don't expect that investing in one piece of property will make you a millionaire, just as in the stock market, the savvy investor is the one that wins in the long run. Plan your journey and you will find success in real estate investing.
Introduction
This site is dedicated to the real estate investor. Feel free to post your ideas and thoughts as we all gain from discussiong.
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