Occupancy 93.3%!!!
November was 93.1%
I am full in austin meaning 100% occupancy. Now I need to get full and paying but being full is a good start. Check out the write up from ALNsystems.com about the Austin, San Antonio, Dallas, Houston, and Fort Worth markets. I attached them as a PDF to this post.aln apartment data 1-11-11
Here is what the article says about housing: ”
HOUSING
New-home sales in 2010 drop to their lowest level in 47 years
Buyers purchased the fewest number of new homes last year on records going back 47 years. Continue reading Business Digest: Treasury’s $600 billion bond program still needed, Fed says; New-home sales in 2010 drop to lowest level in 47 years
“I hit a telephone pole that’s why I can’t pay my rent. ” Yep thats the latest excuse that I heard as to why the tenants could not pay thier rent. They even attached the picture below…..
My advice to them was to follow Ron’s rules and things that make you a better landlord and investor: Rule# 235,876 Slow down and pay your rent in the mail!
You never hear of the mail man hitting a telephone pole that’s why the rent did not get there on time.
over the holidays I had to deal with a fire in one of the apartments that I own. I am relieved that the resident was not killed and thankful that the damage was not to the entire building! Fires can wreck a real estate investment luckily this one is insured so the damage will not be as large as it could have been, but nevertheless it is a big distraction when you want to start the new year on a positive note. Check out some of the pictures of the fire
after the fire Continue reading FIRE!!!
an article in the austin business journal outlined the current state of new construction in Austin. You can find it by clicking the link below
Austin home starts down 26% in 4Q
2011-01-04 12:40 PM CST
Click here to read this article
For the existing housing stock this is good news as it means that builders are not adding to our existing inventory of homes and that as demand continues to build and as those living at home and doubling up move less and less inventory will be available for them to chose from. Continue reading Home starts down mean?? Increase in rents!!
I recently read an interesting article in Realty Line Newspaper (www.realtylineonline.com) The article was analyzing austins affordable housing needs. It was written by David Tandy of Gracy Title. The article was highlights one of Austins Austins affordable housing not-for-profit organizations “Foundation Communities (http://www.foundcom.org/)” and their efforts to assist those who need affordable housing.
Please check out the article attached to this post as a pdf and go to foundations communities website and support a not-forprofit organizaiton by giving back to those less fortunate this christmas season! Follow the link: austin affordable housing
I recently stumbled across a new website for comparing rents. www.Zilpy.com If you have rentals you should definately check it out. I typed in some of my property and it did a decent job of pulling back comparables that allowed me to see how my rental property compares to others around me. I am adding it to my checklist of things that I must do to stay on top of my property management duties.
How Does If Feel To Fill Up An Apartment Complex In 45 Days
Exhausting! Exhilarating all at the same time
In the last 45days or so we have rented 27 apartments evicted 2 people and re-rented their units bought. 6+8 refrigerators and need to buy more, 13 stoves and microwaves fixed countless plumbing leaks, fired 1 employee and hired 4 more, cut so much brush the city is looking at the property and wondering when will he stop. We have aggravated a neighbor and pleased them in the same day. One neighbor is so pleased with the work going on a the property that he said we could cut some brush on the property line and he would pay to have it hauled off! We have also Disposed of 2 dead cats, Gotten 1 bad check, and Taken 100’s of calls. I am tired! I am excited at the same time.
On last Friday I began a new journey of a new apartment complex in Texas. This complex is a group investment (real estate syndication) that I sponsored. The investment is owned with no Debt to eliminate the main risk that I believe cost the previous owner the building. Too much debt! I will be bloging about this investment over the next couple of months as a way of communicating to the investors in the syndication and as a means to share my experiences with other investors who may be interested in real estate investing.
One of the things I want to do this year is grow my business. So I began looking for opportunities to invest and to put together another group investment or syndication. I found a small apartment complex in one of the communities close to my home base and decided to go and look at it b/c it was a screaming great deal!
