Galveston MLS Comps data can assist investors navigate the unique real estate market of a favorite Texas tourist destination.
Galveston was known throughout the 1800s as “The Playground of the South” and even today, it is a perennial favorite among tourists looking to spend time on the warm beaches far from bustling cities. However, it’s not just tourists that find Galveston attractive. After tourism, healthcare and shipping round out the three major industries which keep this beautiful region economically fit and comparably affordable. As a destination city, Galveston offers a unique opportunity for real estate investors. Here, there is a constant market for retirement homes, vacation, and second homes in addition to the homesteaders. With access to Galveston MLS Comps, investors can take advantage of that unique opportunity in a savvy way.
The Stock Rises
Not only does Galveston offer a laid-back lifestyle with access to gulf-coast beaches and a booming tourism industry which brings in over $800 million per year, but locals can easily get away even further thanks to the cities position as a major cruise port. Everything looks rosy as Disney has announced a new cruise line coming in the Fall of 2017 which will offer trips to the Caribbean and Bahamas. With the addition of the Disney cruises, more retirees will be looking to purchase homes in the area, and more tourists will be looking for rental units, and in turn, more landlords will be looking to purchase units to rent to those tourists. Being able to market to both of these client-types is easier and more profitable with the help of Galveston MLS Comps, which accurately reflect the fluctuations in the market.
When looking at the real estate market as it is, the real opportunity for investment success lies in the ability to use Galveston MLS Comps to locate properties which are undervalued. They’re undervalued, because they are being marketed as homes would be in any other market, but a savvy investor can turn over a property and market it to buyers as a vacation/second home or as an income property for a landlord who can rent it as a vacation/second home to tourists. The prices which buyers and renters are willing to pay for ‘destination’ vs primary residence properties is higher, meaning a higher return on investment for a flip and more cash flow for an income property.
Galveston is an exciting place to invest in real estate, with its abundance of beauty and buyers of all kinds. Using Galveston MLS Comps, you, as an investor can find undervalued properties and maximize your returns by marketing them as the gems they really are, nestled in this coastal town with a passport to the Caribbean.
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