Jan Buchholz | Austin Business Journal
Dallas-based HomeVestors has ranked Austin as the top market in the U.S. for single-family home investors.
Several other Texas cities made the list: Houston, No. 2; San Antonio, No. 7; Dallas, No. 14; and Fort Worth, No. 16.
“Texas has always been a sweet spot for real estate investing. Its economy is strong and only getting stronger,” said David Hicks, HomeVestors co-president, in an announcement.
HomeVestors earned its national profile by advertising “We buy ugly houses.” The company is a franchising operation that trains its network businesses in ways to attract real estate investors who pay a fee for leads for potential single family home investment properties.
On its website HomeVestors explains why those fees are worthwhile: “We spend millions of dollar annually on local and national advertising. HomeVestors advertising attracts thousands of calls per month from sellers wanting to sell their properties. From those leads, we select only the houses that are most likely to produce the type of financial results that investors demand.”
Hicks, in an announcement distributed Dec. 30, says Austin represents the best opportunity to make money as a single family home investor because of job growth and “relatively low home prices.” HomeVestors says the average home price in the Top 10 markets is under $300,000.
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