Exploring Real Estate Growth in Temple and Belton

Understanding the dynamics of real estate growth in Temple and Belton is essential for anyone considering investment in Central Texas. Both cities, while relatively close in proximity, present unique opportunities for real estate investors. Knowledge of their respective markets can spell the difference between a lucrative investment and a missed opportunity.

Temple, known for its vibrant community and rich history, has seen a steady increase in population and economic activity. It boasts a blend of small-town charm and modern conveniences. In contrast, Belton, often recognized for its strong educational institutions and recreational opportunities, is an appealing choice for families and young professionals alike.

The significance of knowing these market differences goes beyond mere curiosity; it’s fundamental for strategic investment. For instance, the economic climate, rental demand, and property values are crucial indicators that ultimately influence your real estate portfolio’s success. Investing in the right area can lead to higher rental yields and long-term appreciation, while a poor choice may result in stagnation or loss.

In recent years, Temple has capitalized on its location and infrastructure improvements, drawing new residents and businesses. Meanwhile, Belton continues to diversify its economy and enhance its appeal with new developments. According to the U.S. Census Bureau, both cities have shown consistent growth, but understanding the subtleties in their markets can be paramount for generating profits.

Investors should ask themselves: What are the growth prospects in Temple versus Belton? Which city presents more favorable conditions for buying or renting properties? These considerations play a key role in long-term investment success.

As you delve deeper into this comparison, you’ll uncover insights that can guide your investment decisions. The goal is to align your strategy with the unique characteristics of each city, ultimately enabling you to maximize your investment returns while minimizing risks.

Overview of Temple and Belton

In order to make informed real estate investment decisions, it’s crucial to gain insight into the characteristics of Temple and Belton. These two cities, located in Central Texas, each offer unique attributes that appeal to different types of investors and residents.

Temple, Texas

Nestled approximately 30 miles east of Austin, Temple is a city that has steadily developed over the years. Known for its robust healthcare facilities, including the renowned Scott & White Medical Center, Temple provides a strong foundation for economic growth. The city’s population, which has grown to around 79,000, is diverse, with a mix of families, retirees, and young professionals seeking a balanced lifestyle.

The city’s charm lies in its cultural attractions and outdoor recreational spaces. With numerous parks, trails, and annual events like the Temple Railroad and Heritage Museum, residents enjoy a vibrant community atmosphere. Additionally, Temple’s strategic location along Interstate 35 provides quick access to larger metropolitan areas, enhancing its appeal to commuters.

Belton, Texas

Belton, often dubbed the “City of the Spirits,” is located just a few miles south of Temple. With a population of approximately 22,000, Belton is much smaller, which lends a tight-knit community feel. The city is well-known for its scenic lakes, including Belton Lake, and has a rich historical background, evident in its preserved architecture and landmarks.

The educational landscape in Belton is significant, with the Belton Independent School District earning accolades for its schools. This focus on education attracts families wishing to provide their children with quality schooling. Similarly, the growth of local parks and recreational facilities offers residents various opportunities for leisure and outdoor activities.

Both cities are part of the Greater Killeen-Temple Metropolitan Statistical Area, which means they often share economic trends. However, local offerings and demographics greatly differ, making understanding each area’s unique factors vital for potential investors.

Demographic Insights

Studying the demographics of both cities illuminates the different populations seeking residency in each location. Temple’s slightly larger population includes various age groups, with a significant percentage of residents aged 25-54. This age demographic often seeks housing that ranges in price, creating opportunities for both single-family homes and multi-family units.

On the other hand, Belton attracts a younger population, with many residents comprising families and young professionals. The smaller population size often leads to lower competition for rental units, ensuring that property owners can still maintain occupancy rates.

As both cities continue to grow, understanding where your target demographic lies can influence where to invest. For instance, if you’re looking at multi-family properties, Temple might present more opportunities due to its larger population base. Conversely, Belton’s family-friendly atmosphere may cater to single-family home investments.

While both Temple and Belton are classified as emerging markets in real estate, their contrasts offer a valuable perspective for investors. Knowing the cities’ distinctions allows you to formulate a strategic plan to capture their growth potential effectively. This understanding is the first step in determining which city aligns closest with your investment goals.

As we continue exploring the specifics of property values and rental demand in the subsequent sections, keep these overarching dynamics in mind. Your investment decisions should be grounded in an awareness of how each city fits into the broader narrative of Central Texas real estate.

Property Values: A Comparative Analysis

When considering any real estate investment, understanding property values is paramount. In this section, we will delve into the property markets of Temple and Belton, examining historical trends, current pricing, and appreciation rates over the past five years. With this analysis, investors can gain insights necessary for making informed decisions.

Current Market Trends

As of the latest reports, the average home price in Temple hovers around $270,000, showing steady growth year-over-year. This steady increase aligns with national housing trends, which have seen rising demand closely tied to low inventory levels. In contrast, Belton’s average home price is approximately $250,000, which presents a slightly more affordable option for first-time homebuyers and investors alike. According to data from the Texas A&M Real Estate Center, both cities have experienced a significant uptick in property values, making them attractive spots for investment.

Understanding the factors contributing to these trends is essential. Temple’s growth largely stems from its infrastructure improvements and the influx of new businesses, leading to an increased demand for housing. Furthermore, the city’s strategic position along Interstate 35 has made it appealing for residents commuting to Austin.

Conversely, Belton’s rise in property values can largely be attributed to its strong educational reputation and recreational services, which continue to draw families seeking quality environments for their children. The local government has also invested in revitalizing downtown areas, enhancing the urban landscape and attracting potential buyers.

Appreciation Rates

Analyzing appreciation rates over the past five years, Temple has experienced an average annual appreciation rate of approximately 6.5%. This rate indicates robust demand and can be seen as a sign of a healthy market. Conversely, Belton has enjoyed a slightly lower average annual appreciation rate of around 5%, yet still outpaces many urban areas across the state.

Why is this important for investors? Positive appreciation rates signal that properties in both cities are expected to grow in value over time. When considering long-term investments, higher appreciation rates can lead to more considerable returns when it’s time to sell.

Evaluating Investment Opportunities

Investors should consider both immediate income potential through rental income and long-term gains driven by appreciation. With the growing populations in both cities, demand for rental properties is likely to continue rising. The property market dynamics in larger cities often push residents to consider options in nearby smaller towns like Temple and Belton, which can drive rental prices upward due to increased demand.

For first-time investors, this comparative analysis provides a glimpse into which city may offer the best opportunities for property acquisition. If your focus is on higher-value properties and potential for rapid growth, Temple may take precedence. However, if you prefer more affordable options with solid appreciation rates, Belton could be the ideal choice.

Additionally, staying informed of local news can offer invaluable context for understanding market dynamics. For example, state initiatives that boost economic developments in either city can enhance property values and rental rates, making it imperative to remain engaged with regional updates.

In conclusion, understanding current market trends and appreciation rates in Temple and Belton is crucial for any investor looking to maximize returns. Both cities offer unique strengths, and the choice ultimately hinges on individual investment strategies. As we move on to explore rental demand in the following section, this foundational knowledge will help inform your decisions as a prospective property owner.

Rental Demand: What Investors Need to Know

As the real estate market continues to evolve in Central Texas, understanding rental demand becomes increasingly important for investors considering properties in Temple and Belton. The dynamics of rental markets in these cities can greatly influence your investment strategy and, ultimately, your financial returns.

Analyzing Rental Markets

When assessing rental demand, several key indicators come into play: occupancy rates, rental price trends, and tenant demographics. In Temple, the occupancy rate remains strong at about 92%, indicating that properties are being filled quickly. This high occupancy suggests a robust rental demand, fueled by the influx of newcomers and a significant workforce related to the healthcare and manufacturing sectors.

Belton also boasts competitive occupancy rates around 89%, which is commendable given its smaller market size. The city’s appeal to families due to its highly-rated schools and community-focused environment helps sustain rental demand. In both cities, the presence of universities and colleges drives a consistent influx of potential tenants.

Rental Price Trends

In terms of rental pricing, Temple typically offers slightly lower rental prices when compared to Belton. The average rent for a 3-bedroom home in Temple is around $1,600, while Belton sees averages closer to $1,700. However, properties in both markets have shown increasing rental prices over the past five years due to rising demand and a limited supply of available rental units. This upward trajectory benefits landlords and strengthens long-term income potential.

Investors need to be wary of the economic factors influencing rental prices, such as employment rates and local developments. The City of Temple’s continued investment in infrastructure, including transportation and commercial development, will likely support further rental price growth. Conversely, Belton’s drawn attention due to its educational accolades may further elevate rental prices.

Tenant Demographics

Understanding who your tenants will be is equally crucial. In Temple, a diverse population includes young professionals, families, and retirees. The presence of healthcare facilities attracts healthcare workers, while proximity to businesses draws young professionals seeking a suburban lifestyle close to the city. This diversity provides a rich pool of potential tenants to target for rental properties.

Belton’s demographic skews more towards families. The local schools’ reputation makes the city attractive for parents focused on quality education. As such, properties in Belton may benefit from stable, long-term tenants looking for homes to raise their children.

In both cities, appealing to your target demographic can enhance rental demand. For instance, investing in properties close to schools or healthcare facilities can position you favorably in the market. Additionally, offering competitive amenities can attract tenants who may be willing to pay a premium for the right location and conveniences.

Which City Has Higher Rental Demand?

While both Temple and Belton have their strengths, Temple edges ahead when it comes to overall rental demand. The higher occupancy rates and diverse tenant pool allow investors to capitalize on various demographic trends. However, Belton’s reputation for family-friendly living creates unique opportunities that should not be overlooked.

As you evaluate rental demand in these cities, keep in mind the nuances that can influence your decisions. The choice ultimately depends on your investment goals, whether you’re aiming for quick returns or stable long-term growth. As we transition into discussing economic growth and job opportunities in the next section, remember that rental demand is just one part of a larger picture that dictates real estate success. Understanding these interconnected factors will put you in a better position to navigate the Central Texas property market effectively.

Economic Growth and Job Opportunities

The economic landscape of a region plays a vital role in shaping its real estate market. For investors considering properties in Temple and Belton, understanding local economic growth and job opportunities can provide essential insights into potential investment success. Both cities are experiencing dynamic changes that could influence rental demand and property values.

Current Economic Conditions

Temple’s economy has witnessed significant growth in recent years, driven mainly by the healthcare and manufacturing sectors. With major employers like Baylor Scott & White Health and a host of manufacturing companies, Temple provides a stable job market. As detailed by the U.S. Bureau of Labor Statistics, the unemployment rate in Temple is presently around 3.8%, indicating a robust job market that can support housing demand.

In contrast, Belton enjoys a diverse economy supported by various industries, including education, retail, and healthcare. The city’s proximity to Fort Hood, one of the largest military installations in the United States, also influences its economy positively. This has led to a lower unemployment rate of approximately 3.5%. With new developments underway and an emphasis on local business growth, Belton is positioning itself as an attractive option for job seekers and families alike.

Recent Economic Developments

Recent developments in both cities signal promising economic opportunities. Temple has invested in infrastructure improvements and public amenities, including parks and recreational facilities. These upgrades enhance the quality of life for residents and create a more appealing environment for businesses and new residents.

Belton, on the other hand, focuses on strategic planning initiatives aimed at increasing its appeal. The city has seen an increase in retail options and recreational facilities, which attract families and businesses. As a result, the local government has launched programs to support existing businesses and encourage new ones to set up shop in Belton.

Investment Opportunities in Growth Industries

For real estate investors, understanding which industries are flourishing can inform where to focus their investment efforts. In Temple, the healthcare sector presents a strong opportunity. The growing demand for healthcare professionals has led to more projects aimed at accommodating this influx, including multi-family housing developments. Investors looking to meet the needs of healthcare workers may find attractive opportunities in this market.

On the other hand, Belton’s educational sector is thriving, making it an ideal locale for rental properties aimed at families and young professionals pursuing better schooling options. The attractions of Belton Lake and extensive parks also present possibilities for vacation rentals or single-family homes that cater to families seeking outdoor recreational spaces.

Comparative Job Market Insights

When comparing the job markets in these two cities, both have shown resilience and growth. Temple’s economy tends to be more reliant on healthcare, while Belton benefits from a diversified economic base that includes retail and education. Both cities provide stable employment opportunities which are crucial for driving demand for housing.

Investors should consider these factors when determining where to allocate resources. For instance, if an investor’s strategy aligns with healthcare support, Temple may be more appealing. Conversely, those looking to attract families may find Belton’s educational facilities more valuable.

In conclusion, understanding the economic growth and job opportunities in Temple and Belton is vital for informed investment decisions. By keeping a close eye on job market trends and recent developments, you can make choices that will maximize the returns on your real estate investments. As we move forward to assess the quality of life in each city in the next section, remember that these elements not only affect property demand but also enhance the overall appeal of each area, influencing long-term investment success.

Quality of Life Assessment

When evaluating real estate investment options, quality of life is a critical factor that influences not only property demand but also tenant satisfaction and retention. Temple and Belton, while both situated in Central Texas, offer distinct quality of life attributes that cater to various demographic needs. Understanding these elements can assist investors in making informed decisions on where to invest their resources.

Education and Schools

One significant component of the quality of life analysis in both cities is the education system. In Belton, the Belton Independent School District has built a reputation for excellence. With accolades for its strong academic performance and various dual-credit programs, Belton schools attract families prioritizing education. As a result, the demand for residential properties near these schools remains high.

Conversely, Temple offers several educational institutions, including the highly-rated Temple Independent School District and proximity to higher education facilities such as the University of Mary Hardin-Baylor. The presence of these institutions contributes to a diverse educational landscape, appealing to families and professionals who value both primary and secondary education options.

Healthcare Access

Healthcare access significantly contributes to overall quality of life. Temple is recognized for its healthcare services, notably the Baylor Scott & White Medical Center, which is one of the largest medical complexes in the nation. This facility not only caters to local residents but also attracts professionals from surrounding areas, further enhancing the demand for housing near these vital services.

Belton has also made strides in healthcare access, with several clinics and medical facilities available. Although it may not have the extensive healthcare infrastructure of Temple, the availability of essential medical services Combined with its community focus offers families a sense of safety and care.

Recreational Opportunities

Both cities boast ample recreational options that enhance the quality of life for residents. In Belton, the likes of Belton Lake provide opportunities for water sports, camping, and hiking, attracting those who enjoy outdoor activities. The city also hosts various community events and festivals, further fostering a sense of community.

Temple offers its own range of recreational opportunities, including parks such as the 200-acre Miller Park and the Temple Railroad and Heritage Museum. Several walking trails and sports facilities cater to active residents. Additionally, Temple hosts events like the annual Temple Blues Festival, which enhances community engagement and vibrancy.

Crime Rates and Community Safety

Safety is another crucial factor that influences the quality of life in any given area. According to the most recent data, both Temple and Belton maintain relatively low crime rates compared to national averages. While Temple may have higher reported crime than Belton, community initiatives and active neighborhood programs are in place to address these issues.

Belton, with its smaller size, often has a commendable reputation for safety, making it an attractive choice for families and young professionals. Investors should consider these safety metrics not only for tenant satisfaction but also for maintaining property values in the long run.

Concluding Quality of Life Insights

In conclusion, assessing the quality of life reveals valuable insights into the markets of Temple and Belton. While each city offers unique strengths—Belton with its excellent educational facilities and community feel, and Temple with its robust healthcare services and recreational opportunities—both provide compelling reasons for potential investors to look closely at their real estate options.

As you consider investing in property, reflect on the specific quality-of-life factors that matter most to your target demographics. By aligning investment strategies with the unique offerings of each city, you can maximize your investment’s appeal and achieve long-term financial success. Moving forward, we will explore the long-term investment implications in both cities, helping you make sound decisions based on the insights gathered from this quality of life assessment.

Long-Term Investment Insights

As the Central Texas real estate market continues to evolve, discerning long-term investment opportunities requires an insightful analysis of both Temple and Belton. Understanding the broader economic and demographic trends, as well as the quality of life factors discussed in previous sections, enables investors to make informed decisions that align with their financial goals.

Prospects for Investment Growth

Both Temple and Belton exhibit promising growth potential, albeit with distinct paths and characteristics. Temple’s substantial investment in infrastructure, combined with its strong healthcare sector, makes it an attractive location for long-term real estate investments. The city’s efforts to improve public amenities and promote economic development signal ongoing growth, potentially leading to increased property values and rental demand.

On the other hand, Belton’s focus on educational excellence and community engagement enhances its appeal to families and young professionals. As the demand for quality educational facilities rises, the need for housing in the vicinity of these institutions grows as well. This trend positions Belton as a lucrative option for investors aiming for stable, long-term returns through residential properties.

Evaluating Risks and Rewards

Investing in real estate always comes with inherent risks. In Temple, potential risks include fluctuations in healthcare-related job markets and reliance on specific sectors for economic stability. However, given the growing population and job opportunities, these risks are mitigated by the overall upward trajectory of the city’s economy.

In Belton, risks may emerge from its smaller market size and slower growth pace compared to Temple. However, the steady demand for family-centric housing and the city’s low crime rates provide a buffer against downturns in the market. Investors should evaluate these risks against their long-term strategies to determine which city fits their investment profile better.

Investment Strategies in Both Cities

Tailoring investment strategies to match the unique characteristics of each city is vital. In Temple, opportunities for multi-family properties are abundant, given the influx of healthcare workers and professionals seeking affordable rentals. Investors may find success by acquiring properties that can cater to this demographic and meet the growing demand for multi-family housing.

In contrast, Belton may present more opportunities for single-family home investments. With families seeking quality neighborhoods, homes near top-rated schools and recreational facilities may yield higher demand. Additionally, properties marketed towards families can achieve steady rental income as they align perfectly with the younger demographic flocking to the area.

The Role of Property Management

A crucial factor in maximizing your investment returns in both cities is effective property management. Partnering with property management experts, such as IMC Capital, can help streamline operations, from tenant screenings to maintenance coordination. By utilizing professional services, you can focus on long-term strategies while ensuring properties remain in top condition and tenants enjoy a seamless living experience. For more insights on how IMC Capital can assist in property management, visit our Residential Services page.

Conclusion: Making Informed Decisions

In conclusion, the long-term investment landscapes of Temple and Belton present distinct opportunities for savvy investors. With economic growth factors, quality of life metrics, and potential property demands all playing a significant role, understanding these elements is crucial for making informed investment choices.

By aligning your investment strategy with the unique characteristics of each city, you can position yourself for success in the Central Texas real estate market. With the right knowledge and support, both Temple and Belton can prove to be rewarding ventures. As we transition to the next section, we will explore how IMC Capital can further support your investment journey, ensuring you maximize your potential while minimizing hassle.

How IMC Capital Can Support Your Investment Journey

Investing in real estate can be both rewarding and challenging. To maximize your success in the Temple and Belton markets, partnering with a trusted property management service is crucial. IMC Capital is dedicated to providing comprehensive property management solutions tailored to meet the unique needs of investors in Central Texas.

Expert Tenant Screening

One of the most critical aspects of successful property management is tenant screening. Proper screening can significantly reduce the risk of costly vacancies and tenant-related issues. IMC Capital employs a thorough screening process, evaluating potential tenants based on various criteria, including credit history, rental history, and income verification. By ensuring that only qualified tenants occupy your properties, we help maintain a steady income stream and minimize the likelihood of problematic situations.

Maintenance Coordination

Another key component to successful property management is efficient maintenance coordination. At IMC Capital, we understand that timely maintenance is essential to tenant satisfaction and property preservation. Our team is skilled at handling maintenance requests promptly and professionally, ensuring that tenants receive the support they need. This proactive approach enhances tenant retention, as satisfied renters are more likely to renew leases, ultimately benefiting your bottom line.

Detailed Financial Reporting

A strong financial foundation is vital for any successful investment. IMC Capital provides comprehensive financial reporting tools to keep investors informed about their properties’ performance. Regular reports on expenses, income, and occupancy rates help you track your investment’s progress and make informed decisions about future strategies.

Our team of experts is available to provide personalized advice and insights, ensuring that you stay up-to-date with market trends and regional developments that may impact your investments.

Tailored Services for Your Property Needs

Whether you are managing single-family homes, multi-family properties, or commercial spaces, IMC Capital offers a range of services designed to fit your needs. Our commitment to exceptional customer service and hands-on management means that you can rest easy knowing your properties are in capable hands.

Furthermore, as you explore investment opportunities in both Temple and Belton, our resources can help guide you in maximizing property value and managing tenant relationships. Engaging with IMC Capital not only relieves the burdens of daily management tasks but also allows you to focus on strategic growth for your portfolio.

Investors looking to capitalize on the thriving rental markets in Temple and Belton should consider the advantages of professional property management. By partnering with IMC Capital, you gain a dedicated ally in navigating the complexities of real estate investments.

For more information on how we can assist you in managing your properties effectively, check out our Temple Property Management and Belton Property Management pages.

In conclusion, having a knowledgeable property management partner like IMC Capital can make all the difference in achieving long-term success in real estate. By leveraging our expertise, you can navigate the demands of property investment with confidence, ensuring both your properties and your tenants receive the best care. As we move to the next section, we will address frequently asked questions that potential investors may have about real estate in Temple and Belton.

Frequently Asked Questions

When considering real estate investments in Temple and Belton, potential investors often have a range of questions. Addressing these common inquiries can provide clarity and help inform your investment strategy. Below are some frequently asked questions that may arise during your investment journey.

What is the average return on investment (ROI) in Temple and Belton?

The average return on investment can vary based on several factors, including property type, location, and market conditions. Generally, investors in Temple might expect an ROI between 7-10% due to rising property values and strong rental demand. In Belton, the ROI may be similar, though the emphasis on family-centered homes can lead to steadier, long-term returns. Both cities exhibit healthy rental yields, making them attractive options for real estate investment.

How do property values compare between Temple and Belton?

As explored in earlier sections, property values in Temple typically average around $270,000, while Belton averages closer to $250,000. Although prices are slightly lower in Belton, appreciation rates in both cities indicate that property values are on the rise. Investors should consider these factors alongside their specific investment goals when making decisions about where to invest.

What should I consider when choosing between single-family and multi-family properties?

Choosing between single-family and multi-family properties largely depends on your investment strategy. Single-family homes may attract long-term tenants and provide stability, particularly in family-oriented areas like Belton. Multi-family properties, however, can generate higher cash flow by accommodating multiple tenants, making them ideal for investors focused on maximizing income. Analyzing the demographics and rental demand in each city can help guide this decision.

Are there any upcoming developments in Temple or Belton?

Both Temple and Belton continue to experience growth and development. In Temple, recent infrastructure improvements and commercial developments signal ongoing economic expansion. On the other hand, Belton has focused on enhancing its community amenities and educational facilities. Staying informed about local developments can provide valuable insights into potential investment opportunities.

For detailed information about current developments, check local news sources or engage with community boards.

Where can I find additional resources on property management?

For more comprehensive information on property management, consider visiting the Landlord Resources page on the IMC Capital website. This directory provides valuable insights into best practices, legal considerations, and property management tips tailored to the Central Texas market.

Overall, addressing these frequently asked questions can help you navigate the complexities of real estate investment in Temple and Belton. As you continue your research, maintaining an informed perspective will better equip you for success. Our goal is to provide you with the knowledge necessary for making well-informed decisions as you embark on your investment journey in Central Texas.

Conclusion

Navigating the real estate markets of Temple and Belton requires a thoughtful approach, informed by various metrics and local dynamics. Throughout this article, we have explored critical factors that can impact your investment decisions, including property values, rental demand, economic growth, quality of life, and available management services.

Both cities present unique advantages that cater to different types of investors. Temple, with its substantial healthcare infrastructure and ongoing economic development, offers abundant opportunities for those interested in multi-family and rental properties. Conversely, Belton shines with its family-friendly environment, educational reputation, and community-focused amenities, making it an excellent choice for single-family home investments.

As you consider which city aligns best with your investment strategy, it’s essential to remain vigilant about market trends and economic indicators. Understanding appraisal values, rental yields, and tenant demographics can equip you with crucial information for optimizing your property investments. Additionally, staying tuned to local developments in both cities can help you capitalize on untapped potential.

Working with a dedicated property management team, like IMC Capital, can further enhance your ability to achieve long-term success. Our expertise in tenant screening, maintenance management, and financial reporting can streamline your operations and provide peace of mind as you navigate tenant relationships and property upkeep.

In summary, both Temple and Belton offer promising landscapes for real estate investment. Your choice will ultimately depend on your investment objectives, risk tolerance, and the type of tenant demographic you wish to attract. The insights gathered throughout this article can serve as a roadmap for your investment decisions, guiding you toward a future of financial success.

As you embark on your real estate journey in Central Texas, remember that diligent research, a clear understanding of market dynamics, and effective property management can all play pivotal roles in your outcomes. With the right knowledge and tools at your disposal, you can decisively navigate the intricacies of the Temple and Belton markets, paving the way for sustainable and profitable investments.