Forbes Picks Austin as #1 to Buy Investment Real Estate

This month Forbes chose Austin Texas as the number one place in the nation to purchase real estate as an investment. What a way to start off the New Year! It shouldn’t surprise any of us that already own Austin area residential rentals because we have been harvesting the rewards of our area for several years. The Forbes article is singing… my mantra, “now is a good time to buy and hold for a long time. The article went on to state that real estate purchased in one of their favorite places (Austin is numero uno) that it should be a safe bet. I have to interject and state that nothing is a “safe bet”, but investing in Austin area residential real estate is a darn good one. Forbes quoted a study done by Local Market Monitor. The study screened the 105 largest MSA’s with populations having a minimum of 550,000. It stated in part that the recession is getting “…long in the tooth…and fewer markets are undervalued”. I would agree with that; so what. What is important is the fact that you can make money by owning Austin area real estate. The article went on to state the reasons for being bulling on residential rentals and Austin in particular, is the promise of a good supply of renters. The Austin area population grew 8.9% between 2010 and 2013. Oh yes, and the traffic proves it!