It’s a great time to invest in Austin foreclosures!
Many of our clients are looking for Austin investment properties or great buys on homes for sale Austin and Travis County. With the current market, distressed housing and low interest rates, there’s never been a better time to start your Austin real estate search.
Most investors and home buyers are looking for Austin foreclosures (multi-unit buildings, condos, homes) that only need minor cosmetic renewal. Although we are not inspectors, when we tour properties with investors we keep a constant eye out for major structural issues. As experiences Austin realtors, we have a keen eye for identifying the red flags associated with costly repairs.
View our Austin Foreclosures map for a wide variety of properties and areas to consider.
Many new potential investors believe that property foreclosures are huge projects involving thousands of dollars and weeks of repairs. This is simply not true. We know that rehabbing a home or building or condos Austin (downtown or otherwise) can be costly, but we believe in leveraging capital.
The average repair costs for investor properties we close range from $6,000 to $10,000.
Our Austin foreclosure formula (example).
- Area with neighborhood homes for sale — $125,000 to $130,000:
- Make an offer on a bank-owned property for $115,000.
- Investor negotiates and secures the property at $108,000.
- Investor commits $7,000 to repairs (usually less than two weeks to complete).
- Total investment= $115,000.
- A management company markets the Austin foreclosure property for lease, as repairs are being done.
- Typical rent in this neighborhood is $1250.
- With 20% down, expect roughly $300/month in cash flow and $10,000 in instant equity upon completion of repairs.
Austin foreclosure scenarios vary, but this is a proven methodology for helping investors convert capital to “instant equity” in real estate.
How to Buy
Use the MLS Austin foreclosures map to look at property. As Foreclosure Listing Agents, we have access to hundreds of Austin area foreclosure listings. We also have established relationships with many of the agents who represent these listings, which give us a unique advantage in negotiating on your behalf.
Another value-added service our clients find invaluable is our ability to evaluate properties and accurately identify required repairs. This, coupled with our list of preferred vendors who can handle any repair on any property makes the transition from purchase-to-profits, seamless, painless, and transparent.
Check out our Austin foreclosure search below: