All Forum Posts by: Rica Greenwood

Your broker will be a better source for vacany rates, especially since you've already narrowed down the area/neighborhood. I am a broker myself and own properties. The taxes are higher for rentals since the homestead does not apply. If you're getting a loan, best to re-run your numbers. 

The vacancy will depend on your realistic lease price, the area that you buy into and the condition of the property.  Anything in the price range you're looking for is very, very competitive. 

There is no over valuation. This is just the hot market we're in. Demand and supply. And, Yes there are still deals out there. You have to find it. The career fields are all the above and then some. Hence, great economy. Great demand. 

I've leased out my investment property during winter with many interested parties and no appliances.  I agree with Marian.  Save your money.  I'm a broker and rule of thumb, as with all sales and leases, the dictating factors are PCL:  price, condition, location.

There is a stats somewhere indicating that 150 come daily to Austin and its neighboring towns, out of those numbers, 130 people stay. Additionally, the job market is enticing for many major companies. People that do migrate to Austin and the suburbs have careers that is why the values have gone up. Quality of life is great, schools are great, groceries are affordable, et al. Why wouldn't you want to live and invest here? Apartment prices have increased in the past years so there is a demand for SFH.
Please remember that Trulia is Not a real estate company.  If I remember the article, they never discussed job growth--just kept referring to some numbers retrieved--which as many of us know in real estate, Trulia does not provide accurate numbers.  That is why many brokerage firms removed syndication due to Trulia's inaccuracy.  I wouldn't rely on this article. 

You have to do improvements that conform with the neighborhood. Additionally, you have to look at long term, not short term. Tile vs laminate. You don't need to supply appliances nor a redo of bath. If plumbing is the issue, re-doing the bath will not fix plumbing. Best of luck. 

What are you trying to remodel to get it rented out?

Toll, 183A.  Williamson County and TxDot have plans to improve the roads, many are already initiated.  Cedar park is the 4th fastest growing city in the country, 5th most desirable in the country, et al.  Traffic is inevitable if Cedar Park is on the map, but again, that is already being addressed.  Regardless, you see many medical offices, restaurants, shops that are established or being established to see this growth.  Values are up and so is the rental market.

Cedar Park has lower taxes than Leander (0.49 vs 0.66) and values are higher in Cedar Park.  There is a stats shared by community impact (local paper) comparing the two cities.  Schools are great for both--some of Cedar Park is either RR or Leander.  The medical industry moved up north along with all other big chains: Costco, walmart, Heb, etc.  Cedar Park is land locked so values are higher, but people are going slightly farther, ie. Leander, Liberty Hill.  The distance to the toll is a great factor along with its closeness to the Metrorail, closeness to the lake, downtown, etc.

in central Texas, best way to evict is not to accept payment. once accepted, it proves to the court that tenant made good faith to pay and as such, does not need to be evicted. your lease agreement should have stated for additional fees for every day it's late. in addition, it should also state as to how often you would allow for late rent and repercussion. evictions vary by state and local so you should refer to your laws. all the best.