Movin’ on up

November 18, 2021

We are excited to announce our big move. The construction is almost complete and Tower Realty Austin will soon be moving to our new home at 611 W 22nd St – Suite B – Austin TX 78705

Stop by and say hi – the Starbucks is on the first floor.

This move is a physical symbol of the success we have accomplished over the past years. We started Tower Realty Austin as the pioneer realtor in this niche market.

12 years ago, I was just starting out as a real estate broker when an out-of-state parent came into the office and said he had 5 days to close on an apartment for his incoming freshman. That was how he learned about a little-known Texas state law that allows out-of-state families to gain residency for their students and qualify for in-state tuition, saving them over $80K in tuition.

From that day forward, we have specialized in this niche market. Fast forward to today, Tower Realty Austin has helped hundreds of out-of-state families research, tour, and purchase a Texas property and gain Texas residency. Each year we celebrate with our Tower Realty Austin families as their sophomores are officially granted Texas residency status.

How have we gained the trust of these families year after year?

It is simple.  We are the leader in the out-of-state investment market area. Other realtors have tried to gain traction in this market, only to realize how specialized it is.

Austin-born and bred and a former UT student, I can honestly say I know every property in the Austin University area. I have long-term relationships with property managers, tradespeople, HOAs, builders – the list goes on and on. I follow the market’s ups and downs, property pricing, and rental fees. There is no one with a deeper knowledge of this area than Tower Austin Realty.

When you become a member of the Tower Realty Austin family you gain access to our Facebook family group. You can talk with the over 100 members strong group about anything you might be wondering about. You will also receive a welcome packet that outlines all the steps you will need to take to obtain Texas residency. We walk you through the residency process with a series of emails sent each month to remind you of the next steps. When you purchase your property through us, you are benefitting from the years of experience we have helping families just like yours navigate the residency process.

We also provide you with all the information you need to research this process and make an informed decision. Please check out our YouTube video and our FAQ page to get started.

As one out-of-state Tower mother wrote:

“On navigating the student housing real estate market, lending process and deed requirements to obtain Texas residency, Chesney Coker is the preeminent expert. For someone who has never done this, it is not obvious to grasp that that (1) investing in student housing is a different market from a typical real estate purchase, and Austin is not your typical market; (2) certain condominiums have warrantability issues, which you later discover makes financing difficult to impossible (Chesney knows many of these off the top of his head); (3) conventional financing may not work if you are purchasing with your child intended at the owner of the property, or if the condo has a high ratio of tenants to owner-residents – (and Chesney has relationships with lenders who understand the end-goal); and more generally, (4) there are other factors and timing issues that require tactical awareness.

As a lawyer myself, I have profound respect for Chesney’s knowledge and sophistication in choreographing and strategizing a very tricky, niche process. Please trust me, if you are looking to gain residency to obtain in-state tuition, Tower Realty is THE way, the ONLY way to go. This is a difficult, complicated process with potentially fatal pitfalls. Without going into detail about troubles we experienced using a conventional broker (who was also excellent but did not understand obscure ways to avoid errors and get to this particular end game) I can attest that seemingly minor moves can be fatal. Chesney is brilliant, strategic and saved us from the jaws of defeat. No one out there knows more about the intricacies of the process than Chesney. On top of that, as a property manager, his team is diligent, thorough, communicative, and dogged in their efforts. His team – in marketing, leasing, maintenance, and management – deserve an A-plus as well.”

 

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