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| Is Cash Still King… and Land His Queen? |
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In one short year ,many things are still changing in our economy that have affected the commercial investment world. However, after much discussion with many of my international clients, I hear that they are continuing to buy land. To many international investors, land is the “go-to investment” which, over the long haul, has been one of the most profitable assets in their portfolios. Even after all that has happened in the national economy, Houston’s economy remains strong. Many of my international clients like Houston because it is still growing—maybe not as fast as some would like, but growing nonetheless. You see signs of new construction, re-development and expansion on virtually every corner of the greater Houston area.
When asked why they like Houston, the most common answer among international clients is that Houston represents the best return on their investment. Several prefer to purchase land, anywhere from five acres to about 50, so they can subdivide and sell. Many prefer to purchase B and C retail strip centers, hold for a period of time and then sell. Others prefer to purchase residential properties and hold for a longer term.
There are many opportunities out there for investors, and local banks and other financing institutions are lending money. John Sexton of Oasis Bank says, “Bring me the deals.” We specialize in deals and welcome international clients.”
Following the Houston city elections, the new mayor, City Council members and other elected officials will have the chance to make a huge impact on the development of the city’s infrastructure, transportation venues and opportunities, and redevelopment challenges. I asked my international clients for their take on our electoral process. They responded almost immediately that they knew our political process was second to none in the world and they knew their investments here would always be sound.
In conclusion, Houston’s economy is still standing, and that is critical for development, redevelopment, jobs, housing, energy, technology and the medical industry, to name a few. Small business owners, foreign and domestic, have staying power. Cash is King, and land is his Queen.
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