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      02-16-2019, 09:07 PM   #1
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anyone in real estate in texas? looking at austin...

i've never been, but i know its hot. houston had my interest for a while, but i'm leaning towards austin. i'm looking at a 1+1 or a 2+2, preferably with a garage. this is for investment purposes only.
i'd prefer nicer areas, A and B class areas and turnkey rentals- no fixers, i don't have the time.
i'm thinking $200-250k is the sweet spot depending on rents.

whats poppin?
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      02-20-2019, 09:08 AM   #2
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Reach out to Stephen Smith. Great to work with and super knowledgable:

https://www.realtor.com/realestateag...8415_578994591
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Tell him Noah sent you!
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      02-20-2019, 10:10 AM   #3
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Reach out to Stephen Smith. Great to work with and super knowledgable:

https://www.realtor.com/realestateag...8415_578994591
stephen@txbrokers.net

Tell him Noah sent you!
Thank you sir.
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      02-21-2019, 01:36 PM   #4
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Reach out to Kevin Bown. Born and raised in central Austin. Tell him Armando sent you.

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      02-26-2019, 08:55 PM   #5
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If you choose Dallas instead, that's what I do Not familiar with Austin, but looks like two good rec's there
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      02-27-2019, 11:07 PM   #6
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Just buy into a REIT exchange traded fund instead. Dealing with real estate from a distance is messy.
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      02-28-2019, 06:04 PM   #7
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Just buy into a REIT exchange traded fund instead. Dealing with real estate from a distance is messy.
Not necessarily. I have a client that does flip houses here in DFW from the comfort of his home in New York. He only comes down here once a month, at most, and could come down less often but likes being hands on in the construction process. It’s extremely possible. Especially with rentals. A good property manager is the key to that equation and worth every penny you pay them.
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      03-08-2019, 08:04 PM   #8
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Not necessarily. I have a client that does flip houses here in DFW from the comfort of his home in New York. He only comes down here once a month, at most, and could come down less often but likes being hands on in the construction process. It’s extremely possible. Especially with rentals. A good property manager is the key to that equation and worth every penny you pay them.
Definitely a good PM is key.
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      04-02-2019, 11:20 AM   #9
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You can still get pretty new construction in Leander (pretty much a suburb of Austin) that's 3/2/2 for that price.

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      08-06-2020, 05:14 AM   #10
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OP, what option did you take? I sold a house in the UK and now I want to make the same stuff you did. Right now I'm living in Dallas and thinking about buying something around here. BTW, selling property in England was damn hard. I didn't find a buyer and after 4 months of waiting just sold it to this thepropertybuyingcompany.co.uk company. BTW, they gave me decent money for my old house. And now I want to become an investor. What advice can you give me?

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      08-06-2020, 08:26 AM   #11
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OP, what option did you take? I sold a house in the UK and now I want to make the same stuff you did. Right now I'm living in Dallas and thinking about buying something around here.
i didn't do anything. i still make my weekly rounds checking austin, nashville, socal, and i'm starting to include idaho just to keep familiar with the market. its also really appealing to me to just pay down my two rentals and own them free and clear.
the biggest hurdle is not knowing the area and having my finger on the local pulse. is this an area that people are leaving because its shitty? local politics, etc.?
i still look at properties and compare potential rents from craigslist offerings. if i see an opportunity, i can get into it.
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      08-17-2020, 10:17 PM   #12
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OP, what option did you take? I sold a house in the UK and now I want to make the same stuff you did. Right now I'm living in Dallas and thinking about buying something around here. BTW, selling property in England was damn hard. I didn't find a buyer and after 4 months of waiting just sold it to this thepropertybuyingcompany.co.uk company. BTW, they gave me decent money for my old house. And now I want to become an investor. What advice can you give me?
Hey, if you're looking in Dallas I am happy to meet for coffee, lunch, a beer whatever and talk about the local market. It's really been pretty strong lately, but I work with several investors and deal in flipping foreclosures so I might be able to point you in the right direction there's uncertainty in where the market is going to go from here but I think there will be some deals to be had this winter.
We can PM and discuss further if you'd like to chat more.
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      08-23-2020, 07:02 PM   #13
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Only thing I know about Austin is that it's one of the fastest growing market (in terms of price) in Texas in the last decade or so, mainly due to all the tech and startups.

We joke and call it the most California city in Texas, and I know people who moved to TX from CA often consider Austin as their first choice.

Leander, TX that someone mentioned above for example, is about 20 minutes drive from Apple's Austin campus, which is also close to Adobe and some other big techs.

With the big techs expanding their Austin campus (Tesla is building new factory and maybe a new office there, and you also have traditional techs like Dell's HQ, etc), you should have no problem renting it out, but I don't think there is much space for significant property value appreciation like it did in the last 5-10 years.

Also stay away from most condo style property near UT Austin/Downtown area, as far as I know (knowledge from 3 years or so ago), the rental to property price ratio is not investment grade.
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      08-23-2020, 08:27 PM   #14
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Only thing I know about Austin is that it's one of the fastest growing market (in terms of price) in Texas in the last decade or so, mainly due to all the tech and startups.

We joke and call it the most California city in Texas, and I know people who moved to TX from CA often consider Austin as their first choice.

Leander, TX that someone mentioned above for example, is about 20 minutes drive from Apple's Austin campus, which is also close to Adobe and some other big techs.

With the big techs expanding their Austin campus (Tesla is building new factory and maybe a new office there, and you also have traditional techs like Dell's HQ, etc), you should have no problem renting it out, but I don't think there is much space for significant property value appreciation like it did in the last 5-10 years.

Also stay away from most condo style property near UT Austin/Downtown area, as far as I know (knowledge from 3 years or so ago), the rental to property price ratio is not investment grade.
i'm also growing hesitant to invest in a liberal city [austin]. you get some liberals voted in there and they start coming up with bullshit like rent control, limits on evictions, etc..
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      08-23-2020, 08:35 PM   #15
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i'm also growing hesitant to invest in a liberal city [austin]. you get some liberals voted in there and they start coming up with bullshit like rent control, limits on evictions, etc..
In that case, stay out of Travis county/Austin city limit for sure. They are probably the most liberal part of Texas, but with the growing tech scene there it's easier to rent out from what I heard.

Round Rock (right next to Austin) is a decent place and not as liberal based on what I know. Some parts of Houston is ok, not so sure about Dallas
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      08-23-2020, 08:43 PM   #16
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In that case, stay out of Travis county/Austin city limit for sure. They are probably the most liberal part of Texas, but with the growing tech scene there it's easier to rent out from what I heard.

Round Rock (right next to Austin) is a decent place and not as liberal based on what I know. Some parts of Houston is ok, not so sure about Dallas
i've kept an eye on round rock and pfluggerville, but its been a few months since i've looked. i'd also want a condo so i don't have to worry about exterior maintenance.
my other rentals are condos, and the hoa actually makes things a little easier. i don't want to get nastygrams from a single family residence hoa if the grass is getting a little long.
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      08-23-2020, 09:35 PM   #17
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i've kept an eye on round rock and pfluggerville, but its been a few months since i've looked. i'd also want a condo so i don't have to worry about exterior maintenance.
my other rentals are condos, and the hoa actually makes things a little easier. i don't want to get nastygrams from a single family residence hoa if the grass is getting a little long.
Single family can sure be a HUGE pita if you get a nasty HOA

I think condos are more common and popular in the inner city of Austin tho, same goes for Houston
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      09-21-2020, 08:45 AM   #18
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i've never been, but i know its hot. houston had my interest for a while, but i'm leaning towards austin. i'm looking at a 1+1 or a 2+2, preferably with a garage. this is for investment purposes only.
i'd prefer nicer areas, A and B class areas and turnkey rentals- no fixers, i don't have the time.
i'm thinking $200-250k is the sweet spot depending on rents.

whats poppin?


Dallas is booming as far as business growth and there are zillions of companies moving here. It feels like they can't build houses and apartments fast enough.

Austin just got a nice boost from the Tesla thing, but bear in mind that it is a very different place from other big Texas cities (new transplant to Texas giving you this opinion).

PS, you could also move out here yourself and get access to our tracks!
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      09-21-2020, 07:34 PM   #19
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Dallas is booming as far as business growth and there are zillions of companies moving here. It feels like they can't build houses and apartments fast enough.

Austin just got a nice boost from the Tesla thing, but bear in mind that it is a very different place from other big Texas cities (new transplant to Texas giving you this opinion).

PS, you could also move out here yourself and get access to our tracks!
i'm juggling a couple of options- i'm 33 now and figuring out retirement goals. this could go a couple of good routes- i have two rentals here in socal that i owe $121k on each of them. i'm looking at paying those off completely, or leveraging one of them to purchase another investment property. the investment property could also be a vacation rental, or a second residence. right now, i'm eyeballing the area of hayden lake, idaho.
texas is cool- no income tax, but property tax is higher, so thats a wash. austin becoming more liberal is a little bit of a red flag, but thats probably like investing in any city in california. some of the prices are almost on par with california as well. i do my rounds about every week and also look at nashville. after comping rents, nothing has gotten me too excited to pickup the phone just yet.

i'm weighing both options. my aggressive side wants to leverage and expand, but my conservative side wants to pay everything off. i'm a blue collar guy, so careful strategy has to be put in play here.
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      09-22-2020, 05:35 PM   #20
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Nashville is in the "ice belt"...gonna be a big change if you live in SoCal.
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      09-22-2020, 06:06 PM   #21
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Quote:
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Quote:
Originally Posted by dparm View Post
Dallas is booming as far as business growth and there are zillions of companies moving here. It feels like they can't build houses and apartments fast enough.

Austin just got a nice boost from the Tesla thing, but bear in mind that it is a very different place from other big Texas cities (new transplant to Texas giving you this opinion).

PS, you could also move out here yourself and get access to our tracks!
i'm juggling a couple of options- i'm 33 now and figuring out retirement goals. this could go a couple of good routes- i have two rentals here in socal that i owe $121k on each of them. i'm looking at paying those off completely, or leveraging one of them to purchase another investment property. the investment property could also be a vacation rental, or a second residence. right now, i'm eyeballing the area of hayden lake, idaho.
texas is cool- no income tax, but property tax is higher, so thats a wash. austin becoming more liberal is a little bit of a red flag, but thats probably like investing in any city in california. some of the prices are almost on par with california as well. i do my rounds about every week and also look at nashville. after comping rents, nothing has gotten me too excited to pickup the phone just yet.

i'm weighing both options. my aggressive side wants to leverage and expand, but my conservative side wants to pay everything off. i'm a blue collar guy, so careful strategy has to be put in play here.
My 36 yr old 2 cents... Pay off the existing mortgages. Let them generate cash for a couple years and provide down payment(s) for additional properties. At 33, you have plenty of time to accumulate more properties vs being over leveraged and potentially losing your shirt in the next inevitable downturn.

Consider upstate Michigan as a possible alternative. It's affordable, has a booming tourism in the summer months, and a solid haven should temps continue to rise or water become scarce.
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      09-22-2020, 07:43 PM   #22
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Nashville is in the "ice belt"...gonna be a big change if you live in SoCal.
i might be a little nuts, but i want seasonal snow when i retire. like a foot on the ground thats gone in a couple of weeks.

Quote:
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My 36 yr old 2 cents... Pay off the existing mortgages. Let them generate cash for a couple years and provide down payment(s) for additional properties. At 33, you have plenty of time to accumulate more properties vs being over leveraged and potentially losing your shirt in the next inevitable downturn.

Consider upstate Michigan as a possible alternative. It's affordable, has a booming tourism in the summer months, and a solid haven should temps continue to rise or water become scarce.
thats what i'm leaning towards. we almost have everything paid off except the houses. we just have the jeep that we've been knocking out.
the market just isn't the same as it was back in 2012 and 2015 when i bought the rentals. putting 25% down on a property and renting it rarely makes a profit or even breaks even anymore.

running a calculator, it would take us about two years to pay off one of the rentals if we were intentional and also threw our tax returns at it. it would be slightly less time to pay off the second. and if we used the profit from the rentals to pay extra on our primary, we would have that paid off in about ten years. that would give us a few years before we hit 50 to really beef up some mutual funds. after 50, i'll probably still work if i want to, but its going to be doing something i like.

where abouts in michigan would be a cool place to live or have a second home?

also, i've considered selling the rentals and paying down my primary, but it just doesn't make sense. capital gains are a huge bummer, and my rentals have made a decent profit since day one. i'm just not ready to let them go yet, since i don't mind being a landlord, and they continue to appreciate well while the tenant more than pays for the mortgage. i'm sure some day i won't want to do it anymore, but its not a bother right now.
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