Everyone has real estate questions. The Real Estate Center at Texas A&M University can help you find the answers.
Can a homeowner trim a neighbor’s tree when the limbs cross the property line? How do you get a Texas real estate license? What’s the median price of an existing Midland home? Why are water rights being bought and sold? My landlord won’t install a smoke detector. What can I do?
The Real Estate Center at Texas A&M University is the nation’s largest publicly funded organization devoted to real estate research. Most of our $5.1 million in annual funding comes from real estate license fees paid by more than 170,000 professionals. A nine-member advisory committee appointed by the governor provides research guidance and approves the budget.
Beside answering questions, the Real Estate Center at Texas A&M researched rural land prices and the results are online. For exam[ple, Rural Land Prices for Rolling Plains – Central (LMA 7) shows real median prices per acre and nominal median prices per acre all the way back to 1972. Real median means the numbers were adjusted for inflation, and nominal median is the price per acre as reported. I compared that area to another nearby; the Rural Land Prices for South Plains (LMA 3). I could see at a glance that nominal median prices per acre are lower in South Plains. if I were searching for a ranch in this area that is valuable information.
Under the heading “NEWS” ther are podcasts available. If you are interested in rural property this might be of interest: “Texas land has always been popular for hunting, fishing, and other recreational land uses, particularly on the outskirts of major metros. But who is buying, what are they looking for, and where are they looking? Blake Farrar, Texas sales manager for Whitetail Properties, shares his insights.”.
Then the Real Estate Center at Texas A&M has a blog with this very good article titled at Texas A&M Getting started in real estate investment by Gerald Klassen. Here are a few things for you to think about as you pursue real estate investment.
1 What type of property interests you the most? Look at the buildings around you and figure out what looks interesting to you. Land and buildings require a great deal of care to keep them generating income, so you better like what you are managing.
- Get a job working for someone managing the type of real estate that interests you most. You need to learn how the asset works and how to take care of it. I cannot emphasize this enough. It will save you from making many mistakes.
- Managing real estate isn’t a “passive” job. You need to be ready 24/7 to take care of it and serve the tenants who are paying you to be in your space.
- Plan to enroll in the Master of Real Estate Program at Texas A&M. Start talking with staff running the program so you can get the prerequisites for the program.
- Get an internship working for a firm managing the type of real estate that interests you most. The experience will help you a lot when you are in the MRE program. It will significantly increase your odds of getting a great internship in the program.
- Go to real estate conferences to network and learn what interests you.
Always conduct yourself with the highest ethical standards, and do your very best to serve people. It will open doors to great real estate opportunities.