The housing market has been on the mend for some time now, and private real estate investors in Dallas have reaped a great many benefits from it. They have also been a strong force for good in the Dallas economy, as well. Some might be surprised to hear this, as they think of investors swooping in on low prices on foreclosed condos for sale in Dallas, TX, as well as other foreclosures. However, when you look at the big picture, you can see how investors have played an integral part in recent improvements in the economy in Dallas and all over the United States.
You may remember, after the housing bubble burst, many Occupy Movement activists protested and attempted to shut down courthouse auctions of houses and foreclosed condos for sale in Dallas, TX and other places in the country. Though these people thought that they were fighting for financially distressed homeowners’ rights, they were actually hurting them.
Private real estate investors in Dallas, on the other hand, have been taking over the debts owed to the banks on these properties, freeing homeowners from their obligations to the homes they can no longer afford to maintain. Foreclosures that sell at auction actually stand the greatest chance of returning some capital to the homeowner, as any payment above the money owed to the mortgage lender is automatically transferred to the homeowner.
Many foreclosure properties stand vacant for months (or more) before auction. In these cases, property values in the entire neighborhood will suffer. The more vacancies a community has, the lower the overall appeal of the area will be, and the lower property values will dip. As private real estate investors purchase, rehabilitate, and sell these properties, the curb appeal of the whole area increases, and everyone’s property values see improvements.
Providing Jobs in the Community
Furthermore, these properties almost always need work to bring them up to code and to make them more attractive to potential buyers and/or renters. Whether they intend to lease the property or sell it in just a few weeks or months, private investors usually hire local contractors and construction professionals to do the necessary renovations.
As an investor, you can help the communities where you invest even more by purchasing materials for your renovations and rehabilitations from local vendors. As you do this, you improve property values and pour money into the local economy, as well. By doing this, you’ll help to further improve the area where you’re investing.
Operating with this “helping” model in mind will increase your ROIs and help maintain sustainability for your investments. As an investor, you can help Dallas continue to improve and grow.