Rise in random offers for my own home
Since January, I have been contacted 8 times by investors who want to buy my house, two that want to buy my mother's house, and one that wants to buy my sister's house. I don't recall ever getting this much, and this aggressive, interest before. Yes, I get the random "we buy ugly houses" general mailer, but not the phone calls and personal notices (including two handwritten).
Also, I am noticing that available rentals are staying empty for up to two months, which is unusual in Austin, TX.
I am just getting into real estate investing myself, but now I am starting to think this market, which is already expensive, is going to be even more competitive and saturated.
Am I right, or am I just more aware since I am trying to break into the market, too?
Time is never right. Best time to get in the market is now. I agree, it has gotten competitive and saturated over last 2-3 years.
Not sure if you're tracking individual vacant rental or entire Austin rental market rental in general. Those vacancy can depend on several factors:- Are those rental priced competitively? Form of marketing the rental owner is using?
Do you due diligence and you can make money in any market condition. Don't let any market condition deter you.
I get a few too. Ever since we bought our BRRR.
Originally posted by @Lisa Lusby:The wholesalers are pests. Its like that here too. (Columbus Ohio) .. interestingly I have also noticed rentals sitting on the market for longer than normal. We have several groups with seemingly endless money paying for anything they can get and turning them into rentals. Will be very interesting to see what happens in Spring.Since January, I have been contacted 8 times by investors who want to buy my house, two that want to buy my mother's house, and one that wants to buy my sister's house. I don't recall ever getting this much, and this aggressive, interest before. Yes, I get the random "we buy ugly houses" general mailer, but not the phone calls and personal notices (including two handwritten).
Also, I am noticing that available rentals are staying empty for up to two months, which is unusual in Austin, TX.
I am just getting into real estate investing myself, but now I am starting to think this market, which is already expensive, is going to be even more competitive and saturated.
Am I right, or am I just more aware since I am trying to break into the market, too?
@Lisa Lusby Hey Lisa, in any strong market, you will get lots of “investors” trying to find deals. Our current challenge in Austin is very low inventory, so wholesalers and Investors have to work harder to find properties to make offers on. Like others have said, today’s market is immaterial. The real question to ask is “What is my goal?” If you plan to own the property for 10-20 years, the properties are cheaper now than they are likely to be in the future, so investing now makes more sense than waiting.
Happy to connect anytime you want to chat!
Originally posted by @Account Closed:Originally posted by @Lisa Lusby:The wholesalers are pests. Its like that here too. (Columbus Ohio) .. interestingly I have also noticed rentals sitting on the market for longer than normal. We have several groups with seemingly endless money paying for anything they can get and turning them into rentals. Will be very interesting to see what happens in Spring.Since January, I have been contacted 8 times by investors who want to buy my house, two that want to buy my mother's house, and one that wants to buy my sister's house. I don't recall ever getting this much, and this aggressive, interest before. Yes, I get the random "we buy ugly houses" general mailer, but not the phone calls and personal notices (including two handwritten).
Also, I am noticing that available rentals are staying empty for up to two months, which is unusual in Austin, TX.
I am just getting into real estate investing myself, but now I am starting to think this market, which is already expensive, is going to be even more competitive and saturated.
Am I right, or am I just more aware since I am trying to break into the market, too?
Are you trying to sell your home? I can offer you a cash offer with a 45 business day inspection period. No EMD. What price would do you want?
The rental market is really strong in Austin right now, I am averaging a week to 2 weeks on getting homes rented and 5-6 showings a week. This issue might be specific to a location, house or price but I am not seeing rentals sitting on the market for 2 months generally
Austin is hot. Extremely competitive but exactly right everyone. With a long term mindset it will be great to have real estate in Austin 20 years from now. JOBS JOBS JOBS are the key.
Regarding the yellow letters, post cards, phone calls, forced voice mails (no preceding call) and so forth, I get multiple ones per week if not per day. I just ran one through the shredder a few minutes ago that came in today's mail.
Once you get on some lists they just do not stop. Even if you tell them to stop, it soo much trouble to remove you from their lists. They would rather waste to postage and call.
You can get on their list for most any reason, just the right neighborhood they invest in, an unkempt yard or exterior, tax bills sent to a different address, etc.
Originally posted by @Account Closed:Originally posted by @Lisa Lusby:The wholesalers are pests. Its like that here too. (Columbus Ohio) .. interestingly I have also noticed rentals sitting on the market for longer than normal. We have several groups with seemingly endless money paying for anything they can get and turning them into rentals. Will be very interesting to see what happens in Spring.Since January, I have been contacted 8 times by investors who want to buy my house, two that want to buy my mother's house, and one that wants to buy my sister's house. I don't recall ever getting this much, and this aggressive, interest before. Yes, I get the random "we buy ugly houses" general mailer, but not the phone calls and personal notices (including two handwritten).
Also, I am noticing that available rentals are staying empty for up to two months, which is unusual in Austin, TX.
I am just getting into real estate investing myself, but now I am starting to think this market, which is already expensive, is going to be even more competitive and saturated.
Am I right, or am I just more aware since I am trying to break into the market, too?
I've been seeing something similar, I'm assuming they're getting as many as they can since there is still a need for rental properties with so many people migrating here each year and not nearly enough new development.
@Lisa Lusby - I would look south towards San Antonio or possibly north to Temple/Killeen/Waco if you are doing rentals.
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Real Estate Agent Texas (#692589)
- Highland Properties
Lisa, thanks for your vote, what happened to your two houses that you will thinking of selling?
Did everything work out well for your family?
Happy Hollidays
Dave
