A Personal Note
Happy New Year! We hope you all had a great holiday season and are looking forward to 2021. We had a great holiday, and our family was able to spend some time together during the Christmas weekend. While we weren't able to spend time with our extended family this year due to Covid, we did enjoy our low key Christmas and New Year celebrations here at home. We are excited about 2021 and the opportunities we will bring to the table for our family, friends and investors.
December in Review
December was (and typically is) a slow month due to the holidays, although we kept pretty busy in the first few weeks. We toured two complexes last month, a 68-unit complex in San Antonio and a 227-unit complex in Fort Worth. We also put in our best and final offer on a project, but unfortunately, we did not win the deal.
Despite losing that deal, we continue to look for projects that excite us while also meeting our conservative approach to investing. While this approach does mean we lose upwards of 90% of all the projects we bid on, it also means we safeguard our investors’ capital. Finding the right project can take time, but it’s worth the wait.
Our Market
Texas has seen strong growth in the markets we track despite the unique challenges we faced in 2020. Due to new companies moving to the state and the draw of a number of industries, net migration to the state increased. Companies such as Apple, Oracle, and Tesla have moved significant parts of their operations to Texas or have even relocated their headquarters to the state.
More people in the state means a higher demand for rental properties. While Texas overall has seen an increase in the demand for housing, San Antonio is experiencing incredible demand. In fact, experts have predicted that over the next eight years, rent in the city will increase as demand outpaces supply. It’s likely that San Antonio will even experience a housing shortage of 55,000 units or more over the next 8 years. Investing in multi-unit real estate is certainly going to pay off.
But that’s not all the good news for San Antonio. According to a survey done by RENTCafe, many millennials are moving to the city. These young professionals made up 44.8 percent of all applicants for rental properties received over the past five years. San Antonio was already known for its “diverse economy, below-average unemployment rates and an affordable housing market” according to RENTCafe, all of which make it the ideal place for millennials and others looking for a great location to begin or advance their careers.
Happy New Year! We hope you all had a great holiday season and are looking forward to 2021. We had a great holiday, and our family was able to spend some time together during the Christmas weekend. While we weren't able to spend time with our extended family this year due to Covid, we did enjoy our low key Christmas and New Year celebrations here at home. We are excited about 2021 and the opportunities we will bring to the table for our family, friends and investors.
December in Review
December was (and typically is) a slow month due to the holidays, although we kept pretty busy in the first few weeks. We toured two complexes last month, a 68-unit complex in San Antonio and a 227-unit complex in Fort Worth. We also put in our best and final offer on a project, but unfortunately, we did not win the deal.
Despite losing that deal, we continue to look for projects that excite us while also meeting our conservative approach to investing. While this approach does mean we lose upwards of 90% of all the projects we bid on, it also means we safeguard our investors’ capital. Finding the right project can take time, but it’s worth the wait.
Our Market
Texas has seen strong growth in the markets we track despite the unique challenges we faced in 2020. Due to new companies moving to the state and the draw of a number of industries, net migration to the state increased. Companies such as Apple, Oracle, and Tesla have moved significant parts of their operations to Texas or have even relocated their headquarters to the state.
More people in the state means a higher demand for rental properties. While Texas overall has seen an increase in the demand for housing, San Antonio is experiencing incredible demand. In fact, experts have predicted that over the next eight years, rent in the city will increase as demand outpaces supply. It’s likely that San Antonio will even experience a housing shortage of 55,000 units or more over the next 8 years. Investing in multi-unit real estate is certainly going to pay off.
But that’s not all the good news for San Antonio. According to a survey done by RENTCafe, many millennials are moving to the city. These young professionals made up 44.8 percent of all applicants for rental properties received over the past five years. San Antonio was already known for its “diverse economy, below-average unemployment rates and an affordable housing market” according to RENTCafe, all of which make it the ideal place for millennials and others looking for a great location to begin or advance their careers.