This post is based on an email that I sent to our team's Communication Manager to help set expectations for the out-of-state investors that contact us. It seemed helpful, so I decided to post here.
THE CURRENT TEXAS REAL ESTATE MARKET
Texas real estate is still HOT. Austin is one of the hottest cities in Texas. Houston and San Antonio are cash flow markets. Austin and Dallas are examples of top appreciation markets. Agents in our area receive similar calls/emails to this at least once per week:
"I am a beginning/relatively experienced investor from Arizona/California. The market isn't doing so well here, so I've been researching Texas. I have $1M-$5M cash to spend and would like some duplexes/fourplexes/small apartment complex that will have both cash-flow and appreciation. I'd like at least 6% CAP Rate.
I do/do not have partners. I will be coming to Texas/Austin within the next few weeks/months and would like to see properties/land when we're there. Please call us back asap."
NOW, SET PROPER EXPECTATIONS
The typical response from the typical agent is, "Great! We can definitely help you find something. When did you say you were coming in town? Let me set something up."
Our group's typical response:
"We are a group of specialists who strive to better ensure the success of our clients. We believe in properly setting expectations from the start, so need to have a discussion with you to fully understand your needs.
When can we set up a FREE, no obligation phone consultation? The goal of that 20-minute session is to determine whether we are the right real estate group for you and, if so, how we can help you. After we talk, we can then both make an educated decision on how to proceed."
The bottom line truth is that out-of-state investors are coming in droves to Austin. If your agent doesn't provide a similar response, you may want to hang up and call the next one! Otherwise, you will likely waste both their time and yours.
Contact us anytime (24/7) to set up a FREE consultation or to better understand the Texas real estate market. Stay updated with our Market Updates category.
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