As a commercial multifamily real estate investor and acquisition specialist I have been making money in Texas for years. The first order of business in making money in real estate is to find a great market. While there are many variables that make a great market, the two big ones are population growth and job growth. Are people moving to your city and is there jobs to support them when they get there?
The Texas Triangle which is loosely defined as Dallas to the north, Houston to the southeast, and San Antonio to the southwest is the largest area of population and economic growth in this country. Year after year this area grows bigger and creates more economic opportunities. Where there are jobs and people, there is demand for multifamily real estate.
Last month, Richard Fisher, President and CEO of the Federal Reserve Bank of Dallas gave his annual update on the State of the Texas Economy. You can read those comments in their entirety by clicking here. However, I want to summarize some of the points below:
- Texas is outpacing the nation in terms of economic growth
- The equivalent of GDP for Texas is approximately $1.4 trillion on par with countries like Australia and Spain
- Texas produces more oil than Venezuela and more natural gas than Canada
- Nearly one quarter of domestic migration to Texas comes from California. In fact, a U-Haul trailer from San Francisco to San Antonio will cost more than double the price for the same route in the opposite direction
- There is a new Houstonian every 4 minutes
Texas has been and continues to lead the country in job growth. These jobs have led to massive population growth and demand for multifamily apartments. You don’t have to live in Texas to take advantage of the sea of opportunity that exists there. All you have to do is email me or click this link to learn more. For those who do live in Texas, I am hosting a 100% educational luncheon on January 25th in Austin, Texas. This is your no obligation chance to learn more about commercial multifamily real estate and lunch is on us. I will be introducing the CEO of a Private Real Estate Investment Firm with a long track record of success in Texas. Reserve your seat today by clicking this link as seating is limited and invite a colleague.
To Your Wealth,
Dennis Bethel, M.D.
P.S. Texas multifamily real estate has been lucrative for me and many investors. Don’t miss your chance to learn more on January 25, 2014 in Austin, Texas. Hope to see you there.