A Guide to Creating a Rental Property in Harlingen

Rental properties are a great business that can become a consistent source of income if you make the investment.

If you’re considering developing a rental property in Harlingen and don’t know where to begin, our property experts at SRC Land can help! Let us share a few essential tips to consider when investing in a rental property.

 

What Is a Rental Property Business?

Entry-level real estate businesses begin with rental properties. These types of investments are likely to give you a high amount of income in return. 

Investing in a rental property involves leasing one or more units to tenants for a monthly rental charge and any additional monthly or yearly fees. You can choose to handle all of the rent collection and maintenance yourself as a landlord or hire a property management company to work on all the details for you. 

 

Tips to Consider When Developing a Rental Property

 

1. Research

First and foremost, investing in a rental property requires a good amount of research, whether you’re a novice or experienced. Be sure to research the types of rental properties you are interested in and take any laws, regulations, and taxation into consideration. 

Rental properties are part of the real estate market, so focusing on where the market is going will benefit your investment in the long run. Knowledge is power, hence researching every aspect of your investment will get you far and help you reap the most rewards!

2. Picking a Niche

Rental property businesses often come in many different shapes and forms to take in mind. Each niche requires its own set of rules, regulations, and strategies. Two of the more popular niches to consider looking into are:

        • Long-term rental properties: These rental properties are also known as traditional rental properties. This form involves renting to tenants on an annual or month-to-month basis. Benefits of long-term rental properties include consistent income, easier to manage (yourself or with the help of a property manager), and you may have tenants pay for utilities. 
        • Short-term rental properties: An excellent example of a short-term rental property is Airbnb. Short-term rental properties may offer higher income potential, require more hands-on maintenance, and you may have the ability to change your pricing at will.

3. Networking

Networking is a significant step to help you create a successful rental property. Consider joining a local real estate investment club, association, or group.

Our property experts at SRC Land are a great way to begin the process of networking. With their knowledge and help, you can start searching for commercial properties for sale in Harlingen. 

4. Location

Part of researching requires knowing the details of the location you wish to begin your rental property business. The entire real estate market depends on it! Luckily for you, SRC Land will help you pick the right location for your rental property.

Currently, SRC Land serves the following areas:

        • Harlingen
        • Rio Grande
        • Los Indios
        • La Feria
        • San Benito
        • Rio Hondo
        • Donna
        • Los Fresnos
        • Brownsville
        • Houston

5. Financing

If you are an entrepreneur looking to buy land to make a commercial property, reach out to our dedicated team today to learn more about how we may help you! via @SRCLand #sellerfinancedland #commercialpropertyinharlingen #HarlingenTX
Click to Tweet

We make it possible to purchase properties with our seller financing options thanks to low down payments and affordable monthly payments. We help make it possible for people with bad or no credit to own land and make their business goals a reality in Texas.

Our seller-financing will help you by offering:

        • Lower prices
        • Personalized terms
        • Low-interest rates
        • Quick & cheap closing
        • Financing regardless of credit
        • No requirements for mortgages

6. Organize/Systemize

As a new rental property owner, you will need to have a system in place for your tenants. Various things to consider are applications, credit, and background checks. Consider organizing multiple systems in place for each process before it’s time to rent out your rental property. You can do this yourself or hire a property management company or manager to help you out!

7. Make a Business Plan

The key to beginning your own rental property business is a business plan. Some essential vital points when making a business plan for your rental property are:

        • Vision: To have a vision is to have a mission. Keeping your vision secure will help you pave your path towards success.
        • Income Goals: Knowing how much wealth you wish to make will ultimately depend on the vision you have in mind and the niche you choose. 
        • Structure: A rental property may need an excellent team to help you fulfill your vision. Consider hiring a team of experienced people that will help manage and bring success to your rental property.
        • Marketing: Figuring out how to spread the word about your new rental property is as essential as knowing your vision. Utilizing intelligent marketing tactics, like social media or word-of-mouth, or hiring a marketing team, will help reach more people looking to rent. 

 

Invest in Rental Property with SRC Land Today

Starting a rental property is an exciting journey to take on, and our property experts at SRC Land are here to help you find the perfect property for you! With our knowledge and expertise, we will help you take advantage of our seller financing options to make your dreams a reality and start you off on your path to becoming the best rental property owner you can be. 

Contact Us Today

Follow us on Twitter and Facebook!

Is Cameron County the Right Choice for My Children?

As parents, we want the best for our children. We strive to give them the best life possible so that they can achieve any goal that they set their minds to.

This means more than just spoiling them with the occasional candy splurge or a new toy – we want to set them up so that they have opportunities to grow their confidence, expand their mindset, and develop their social skills so they can live fulfilling lives.

With that being said, it can’t be denied that investing in property will benefit your family and children. Studies indicate that owning property can positively affect child outcomes compared to families that rent or lease.

These benefits reflect a positive impact on education outcomes (such as high school completion and college attendance), as well as the potential to reduce the likelihood of teenage parenthood, and improved chances of participation in the workforce.

For more than 20 years, SRC Land has been helping families establish the foundation for their children’s success by making land ownership attainable.

If you’re ready to invest in land to build a future for your family, Cameron County is a fantastic place to start.

Let’s go over some of the benefits that Cameron County has for families and their children.

Child Care Options in Cameron County

If you’re a parent to young children, there’s a chance you will need some assistance caring for your children while you’re at work.

Not every family is fortunate enough to have relatives nearby who can help look after kids while they work, but fortunately, child care options in Cameron County are abundant, with over 200 active child care providers available in the area.

Additionally, there are currently a few support options available for parents to attain payment assistance for child care services in Texas.

One option worth mentioning is Service Industry Recovery Child Care, which provides qualifying parents with up to 12 months of free child care if they are currently employed or entering employment in the following industries:

  • Arts, Entertainment, and Recreation
    • Examples include (but aren’t limited to) jobs at movie theaters, gyms, bowling centers.
  • Accommodation and Food Services
    • Examples include (but aren’t limited to) jobs at restaurants, hotels, caterers, and bars.
  • Retail Trade
    • Examples include (but aren’t limited to) jobs at clothing, convenience, and grocery stores.

Schools in Cameron County

Education is the key to opportunity, and in Cameron County, you can rest assured that your child will have access to quality education.

For the 2021 school year, 175 public schools served more than 100,000 students in the county. Currently, the area features one of the highest concentrations of top-ranked public schools in the Lone Star State.

According to Public School Review, these schools have an average ranking of 8 out of 10, putting Cameron County in the top 30 percent of Texas public schools.

In Texas, the usual math proficiency score is 51 percent, but Cameron County schools boast an above-average math proficiency score of 54 percent. – via @SRCLand

Click to Tweet

Recreational Fun for Kids in Cameron County

In this day and age, kids can spend hours on end on devices like tablets, gaming consoles, and smartphones. Most parents make attempts to limit screen time by providing alternative activities for kids to focus on.

In Cameron County, kids have a variety of outdoor activities to enjoy – certainly more than enough to make them want to ditch the electronic devices and spend time basking in the sun.

Whereas the rest of the United States sees an average of 205 sunny days, Cameron County residents enjoy approximately 227 sunny days each year.

This gives families the opportunity to make frequent trips to places like South Padre Island, where kids can have fun playing at the beach, enjoy waterparks, meet with sea turtles, and even visit alligators!

Owing Property in Cameron County is a Great Investment for Your Family

Investing in land is a smart choice if you’re planning on starting a family or even if you already have kids.

With plenty of land options available in cities such as Brownsville, Harlingen, La Feria, San Benito, and Los Fresnos, SRC Land has the experience and insight to help you find the perfect Cameron County property for your needs.

Paired with our low prices and interest rates, our seller-financing options are the perfect solution for interested buyers with no or bad credit. Contact us today to take the first step towards becoming a landowner in Cameron County!

Contact Us Today