5 Reasons California Investors are buying houses in San Antonio
For California investors, one of the best ways to make extra cash is to sell homes for a profit. Whether it is flipping homes, purchasing homes at a price well below the market value and updating, or otherwise purchasing through foreclosure sales, these are all ways in which you can purchase a home for less, and turn it around for a great deal of profit. So, for investors searching for a great market, San Antonio, TX is one in which to consider purchasing. These are reasons California investors have turned to this market.
Great foreclosure rates
Investors love a great deal, and what better deal than a foreclosed home? California buyers can purchase foreclosed homes in the area, as many housing communities are currently experiencing a great deal of foreclosed properties. This allows investors to purchase homes for a price that is well below market value, turn around and sell it for a profit. Some of the best deals in San Antonio are found in dealing directly with a homeowner that needs to sell their house quickly for cash.
Homes in California are extremely high in price. A home in San Antonio selling for $150,000 would sell for $300,000 or more in certain areas of California. For this reason, investors can get much more home, and updated homes, for a fraction of the price they would pay at home. HouseBuyerSanAntonio.com is an investment company that relocated from Los Angeles to San Antonio, TX and is currently paying cash for houses to homeowners that are ready to dump their house. They can update the homes, and still come in under budget, then turn around and sell the home for a huge profit.
Many homes can also provide great rental income for the investor. Homes selling for lower prices, or selling in auction, are in great demand. Buyers with sufficient cash funds on hand can buy homes for a price that is well below market value, and then turn around and rent out the properties. Further, in duplexes or larger homes, they can rent to more than one tenant, allowing them to receive even higher profits on the home.
Tax write offs
If the investor is also in business, purchasing a home in different areas can be used as a tax write off. Whether it is a rental property scheme, or a property being used for “business” purposes, these can be included as deductions on the income taxes being filed by the homes’ owners. Therefore, the homes can be used by the investor, can be rented out, or can be used for other purposes, all to serve as tax write offs for the owner of the properties.
Homes in California are ridiculously priced. So, even if investors have a high amount of capital to spend, they are going to have to pay a lot, in order to be able to turn around and resell or rent out the properties for profits. This results in smaller profit margins, and more work for the investor to do prior to being able to sell or rent. In a market such as San Antonio, TX, this is not the case. With low pricing, a slew of available properties, and distressed properties selling for such low rates, investors can buy low, and sell (or rent) high, to turn the highest profit margins possible.