The premise of the article was that Austin's Growth was not paying for itself meaning that its existing residents were subsidizing the growth that the city was experiencing. While not wanting to get into that argument I did notice some interesting info on whether or not based upon the data that was presenting in the article the tax rate actually went up or did the property value go up. If the property value went up does that negate the entire premise of the article?
check out the following picture:
The article had some interesting info about whether the tax rate rose or the property value rose but it did not so the simpliest math to reach the conclusions that it tries to reach.
For example the tax rate in 2000 was 3,147 / 138,674 = 2.27% and the tax rate in 2010 was 5,590 / 261,542 = 2.14% so the tax rate did not go up but actually went down over the 10 year period. What went thru the roof was the property value! Thats right is nearly doubled! I will take paying higher taxes everyday in exchange for a higher property value, because I am gaining in real wealth!. In the article the couple featured saw a tremendous increase in their taxes paid but the property value went THRU THE ROOF!!!
Are your investments going thru the ROOF if not call me to add some real estate to your profolio at 512-782-8982.
A case study on 4800 Spring Meadow Cove, Austin TX 78744
The Spring Meadow Cove property was purchased on April 22, 2003 from HUD for $54,603. The property was built in 1984. The house was a 3 bedroom, 2 bathroom, 2 living areas, a dining area, and a 2 car garage. The house was immediately rehabbed and listed for sale at $115,000. It was sold for sale for $116,000. The repairs were complete by Remar Ministries. It required approximately $7,500 in repairs. The list of repairs included:
Marcus and milichap has publised their 3rd quarter apartment research report. I says in so many words that Austin is experiencing a growth in jobs, a reduction in construction, an increase in rents and a reduction in vacancy. Each of those things combined equals a good time to own rental property.
So last week I began the process of completing the energy audit that the city of Austin Mandates for all multi family properties inside the city. The City passed an energy audit ordnance and it says that by June 1 you need to do an energy audit on your property and then you going to need to disclose the results to the prospective tenants. So after calling a few energy audit companies. I settled on one 1stchoiceenergy.com David Malone is the owner and they can be reached at 512-762-5000 and his website is www.1stchoiceenergy.comContinue reading Energy Audit in Austin TX→
(Normally evictions are a pain but not a SAGA) It all started when a tenant did not pay and performed what I call a Midnight move out. That is when they move at midnight so no one would see what was happening. Well this tenant did not take everything. So I called her and said hey do you want this stuff?
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