Welcome to all things about Texas Real Estate, including news and a resource portal where you will find valuable information and links to resources that will help make your real estate activities more profitable.
Some of the many topics we will be discussing here certainly include real estate investing, fix and flipping residential properties, where to find Texas hard money lenders so you can finance your real estate rehab projects, the different terminology used in real estate lending and investing, and current trends in the real estate market.
Dr. James Gaines, chief economist with the Real Estate Center at Texas A&M University,noted that more new homes were built in the Dallas-Ft. Worth Metroplex last year than in 19 states — including California.
As you can see, the Texas real estate market is an exciting and dynamic landscape for those looking for unique and profitable opportunities.
Whether you are looking to flip properties, build a portfolio of rental properties or just acquire equity, you will need to understand the scope and nuances of the market before jumping in.
#1: Understand The Key Real Estate Markets In Texas
Throughout the Texas area, you will note that there are plenty of areas where real estate is absolutely booming. This makes it one of the largest hotbeds for real estate in the entire country. Texas is such a large and diverse state, so it is not surprising that there are so many different hot button real estate areas found throughout the state. If you want to dip your toe in the water and get to know the real estate markets in Texas, it is critical that you learn which are the best for you so that you can begin your journey into reaping the benefits of these various real estate markets.
This city is the highest on the list of real estate areas in the entire country, coming in at number one. The reason for this is that Austin has a reasonable cost of living and a high quality of life throughout the entire area. In terms of Austin real estate, though population has grown by 9% in recent years, while the area still boasts some of the greatest job markets and some of the highest quality education in the entire nation. For people looking to invest in real estate in the Texas area, this is an excellent first place to look.
The Dallas-Fort Worth Metroplex
You can’t say Texas real estate without considering the Dallas-Fort Worth area. This is a hotbed area for real estate because it is one of the largest cities in the state full of hustle and bustle, tourism and plenty of business potential. There are a number of real estate agents that operate in this area for this reason, as this area continuously becomes one of the up-and-coming business sectors throughout the nation. If you would like to capitalize on these population growth and getting on the market on the front end, it is critical that you look into this market.
Houston is another wonderful area when it comes to buying Texas real estate. It is large and expansive and home to reasonably priced real estate of all types. So whether you are looking into commercial real estate or residential property, Houston has a little bit of everything that you can purchase, without you having to pay a huge amount of money in the process. The job market is thriving, the weather is beautiful and more and more people are looking to visit and relocate to the Houston area.
#2: Become Familiar With The Right Sources Of Information
When you want to get started on the right foot with your Texas real estate efforts, it is critical that you also get your hands on the right information. You would need to continuously access this information and familiarize yourself with it so that you can arm yourself with the right information whenever you need it. This will save you when you are in a bind, prevent you from making avoidable mistakes and keep you ahead of the game with all transactions that you look into.
Consider these different Texas real estate resources, so that you are able to get all that you can out of your transaction. Regardless of what type of real estate business or transaction that you are looking into, you will need to be sure that you are providing yourself the resources and tools to get the job done.
The Texas Real Estate Commission
If you want to take advantage of the help of an organization which will be helpful to you, this is one of the first places that you need to look. The Texas Real Estate Commission exists in order to protect the consumers of real estate all throughout the state. It would be a great idea to turn to this commission whether you are a real estate agent, a broker, an inspector, an investor or anyone else who wants to dabble in the field. The site will walk you through the process of acquiring these designations and will give you the help and service that you required for applying for such licenses or renewing such licenses. It will break down the fees and obligations that come with the territory, so that you are always operating within the letter of the law for all Texas real estate transactions. This gives you all that you require in order to understand what is expected of you and will assist you accordingly with any discrepancies or gray areas that you may not be aware of with regard to your Texas real estate transactions.
Texas Association Of Realtors
There are a variety of realtors who would be more than happy to assist you, all of whom are governed under the Texas Association of Realtors. It is great to familiarize yourself with this organization and take a visit to their site. There is a lot valuable information laid out on this site, including postings for events that will allow you to increase your knowledge of real estate, both n the state of Texas and as a whole. You will be able to pay dues and remain abreast of happenings in the area, including town hall meetings, regional meetings and informational sessions. This site is also critical because it gives you an opportunity to know who you are doing business with, due to the fact that it comes with a function for searching realtors. You will be able to look up any Realtor that is certified and licensed in the state of Texas, in order to find out information about their license renewal dates, their contact information and any other information pertaining to violations or restrictions. You will also be able to browse between a lot of tools that you will be able to use, including the ability to subscribe to e-mail lists, join groups and take advantage of publications pertaining to the industry. Learning this information will allow you to continuously remain in the loop with real estate information in the state of Texas. This should be one of the most important and useful resources that you take advantage on a regular basis.
The Texas A&M Real Estate Center
When it comes to resources that you need to continuously familiarize yourself with, you should be sure that the Texas A&M Real Estate Center remains at the top of your list. This university is one of the most prestigious when it comes to providing real estate information throughout the state. You will be able to stay on top of the headlines relevant to state real estate, and will have access to data and studies that are useful to you.
This site also gives you access to people that you will be able to contact in order to field questions related to the field. You will have the opportunity to look into information that will also be relevant for when you want to begin your career in real estate and get your hands on information that will be useful to you. For instance, there is a thorough and in depth guide on how to obtain your real estate license in Texas, which should be required reading for anyone trying to do so.
The University Of Texas Real Estate Resources
When you want to be sure that you are able to get the most out of your success as a Realtor, it is critical that you always have a list of resources at your disposal. This site comes equipped with a host of information which will allow you to look into Texas real estate organizations, an archive of articles related to real estate in Texas and legal guides related to each and every type of Texas real estate transaction.
This university also holds offices with representatives in the department who can field questions during regular hours. This site is a hotbed of information if you are looking anything related to zoning, permits and titles, land transfers and more. You will be able to look through a series of databases that will also inform you of different land transfers and zoning changes that happen on a regular basis. This data and archives will give you a great opportunity to learn about the history of real estate in the areas that you are serving as well.
#3: Put Together A Team Of Quality Real Estate Experts
Since you will need need to get all that you can out every transaction, it is critical that you have a team of experts that are well rounded and able to provide for you. This will give you peace of mind and will make sure that you are always informed and prepared to make the best decision for yourself. When you have a team around you that is dedicated to the success of these transactions, you will have the greatest opportunity possible to capitalize on each and every transaction in front of you. These professionals should be hired with care and discretion, to make sure that you are doing your best to get all that you can out of your process. These professionals can get paid in a lot of different ways, including retainer, a case by case basis and in the form of a contingency fee.
You will need a quality lawyer to look over any and all contracts and to search for titles, a real estate agent to keep you abreast of listings, so that you can acquire property, accounting professionals to assist you in financial matters related to real estate and more. By having such a team on your side, you will also be able to stay aware of Texas real estate taxes, which will always be a factor when you are dealing in real estate in any capacity. Do your due diligence in putting together this team.
#4: Continuously Stay On The Pulse Of Real Estate Investing And Make It A Lifestyle
The best thing you can do is make real estate part of your lifestyle. You should always be subscribing to, purchasing and reading real estate related literature. You will also be able to subscribe to podcasts and YouTube channels related to it, so that you can learn from other people who are succeeding at real estate ventures of their own.
#5: Stay Abreast Of Your Financial Resources
Make sure that you are always keeping track of financial matters, so that they do not get out of hand. You will need to spend money wisely and avoiding bad debt. Further, always know where to bank and where to go for lending.
As you can tell, there are a lot of things that you will need to keep in mind when it comes to the Texas real estate market. By taking advantage of these points, you will have the opportunity to get all that you can out of this market and will provide yourself a realistic shot at getting all that you can out of this. No matter where you live in Texas, you can provide yourself with the knowledge that will allow you to capitalize on the Texas real estate market by applying these points and taking advantage of the resources.