SA Investment property - which areas are good (San Antonio, Austin: home, buying)

[ashbeeigh]

Originally Posted by Austinite888

Gosh i hope it will not go up so much, beause i really like NB haha. I have ask some investor friends in austin and it seems they are not so keen on NB as it is too "far" for them. Hopefully, the interest in NB does not increase much, because i hope to get my 250-260K house.

It’s on a small list of people in the military (as mentioned), people who work at the few distribution centers in the area, tourists and people who want land. I’ll repeat it again, you’re not investing in a secret wonderland. Maybe 25 years ago you’d be investing in a secret wonderland, when there was space between Schertz and new Braunfels and New Braunfels and San Marcos, but today, the only way you can tell you’ve crossed a city line is seeing the signs of “Welcome to New Braunfels” snd “now entering Hats county.” People know and love new Braunfels. It’s one of the fastest growing cities in the US- New Braunfels eyes 100,000 population milestone | Community Alert | herald-zeitung.com

[gtoman67z]

Just heard that our neighborhood ne'er do well that is constantly being cited for code compliance violations on his ill-mantained 50-some y/o house is about to sell...perfect timing!

[ashbeeigh]

Originally Posted by gtoman67z

Just heard that our neighborhood ne'er do well that is constantly being cited for code compliance violations on his ill-mantained 50-some y/o house is about to sell...perfect timing!

Here's your chance, OP. A legitimate pocket listing in San Antonio! Get it before another austinite gets it!!

[Austinite888]

Originally Posted by ashbeeigh

Here's your chance, OP. A legitimate pocket listing in San Antonio! Get it before another austinite gets it!!

I prefer new builts

[eastontracks]

I’m big on any potential up and comers near downtown. A few years ago bought near San Pedro park, and 6 Mos ago got another space on the east side. Very hot market, prices are insane even since January. Lots of new builds and remodels taking place east of the Alamodome but west of new braunfels street.

[txbullsfan]

Investors are a large part of the affordable housing problem. Here in San Antonio, we have a large population of working poor that are detrimentaly affected by this greed. It drives property values through the roof which in turn property taxes, which drives people to further poverty to outright being priced out of their home. It drives home prices beyond purchase for people which in turn forces them into a rent situation. They are then hit with higher and higher rents (houses like you are investing in and apartments) because of demand and shelter as a basic need, which further squeezes them financially and further keeps them from having a place to call their own / American dream. Its beneficial for the few investors and those with wealth to acquire even more wealth but is detrimental to a sizable portion of people.

[TexasRedneck]

Originally Posted by txbullsfan

Its beneficial for the few investors and those with wealth to acquire even more wealth but is detrimental to a sizable portion of people.

For a supposed businessman, you sure embrace the socialistic ideals.

[ashbeeigh]

Originally Posted by txbullsfan

Investors are a large part of the affordable housing problem. Here in San Antonio, we have a large population of working poor that are detrimentaly affected by this greed. It drives property values through the roof which in turn property taxes, which drives people to further poverty to outright being priced out of their home. It drives home prices beyond purchase for people which in turn forces them into a rent situation. They are then hit with higher and higher rents (houses like you are investing in and apartments) because of demand and shelter as a basic need, which further squeezes them financially and further keeps them from having a place to call their own / American dream. Its beneficial for the few investors and those with wealth to acquire even more wealth but is detrimental to a sizable portion of people.

Which is exactly what is happening where OP lives. He doesn’t realize he’s just shifting the problem an hour and a half south.

[Austinite888]

Originally Posted by ashbeeigh

Which is exactly what is happening where OP lives. He doesn’t realize he’s just shifting the problem an hour and a half south.

Do you have any advice on converse area? i am looking around there too.

[txbullsfan]

Originally Posted by ashbeeigh

Which is exactly what is happening where OP lives. He doesn’t realize he’s just shifting the problem an hour and a half south.

Yes, Austin is also substantially experiencing the housing boom. The Austin to San Antonio belt (everywhere in between - New Braunfels etc.) is one of the top 10 most moved to spots in the country. This influx of people as well as in state and out of state investors (people who own multiple non primary resident homes and are renting out) are large parts of what is creating the housing shortage. Insufficient supply, insatiable demand.

While those with wealth (enough to actually afford a second or more homes for ownership at the moment) can contemplate actually increasing their wealthy by owning and renting out non primary resident homes, actually doing so is one less property in the area that someone can live in as a primary resident to build their own equity. Couple that with a large number of investors doing this on a large scale, a high local working poverty level here, the problem becomes exponential and detrimental to society and a sizable portion of people.

This disparity is driving a portion of people out of homes and out of being able to afford their first time home to own a piece of their dream and to build their own equity. People are regularly being outbid on used homes, even above asking price. Many working locals simply can not compete with with that kind of out of state (and in state) money.

New homes are also in short supply and the demand for them has substantially increased the new home purchase price beyond being able to afford them (even at low interest rates) for a sizable portion of people. People are then stuck in rents (by investors) whose rent is also increasing (due to property tax increases and values of other rents raising higher) causing a further squeeze on the residents looking for a way to get out and own and build equity. Its an increase of "haves" versus the "have nots" and a sizable portion of locals are being hit by all sides.

To the OP, if you are adamant to follow through with owning and renting out properties, I would recommend getting in touch with a realtor who can assist you in finding what you are looking for.