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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 stephen@txbrokers.net Tell him Noah sent you! |
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02-20-2019, 10:10 AM | #3 | |
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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.
https://www.twelveriversrealty.com/a...2VyLzIzODI3In0 |
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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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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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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.
Last edited by whats77inaname; 12-16-2019 at 12:42 PM.. |
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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?
Last edited by ImmortalOne; 08-10-2020 at 03:04 AM.. |
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08-06-2020, 08:26 AM | #11 | |
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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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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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08-23-2020, 08:35 PM | #15 | |
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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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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 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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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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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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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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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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Last edited by roastbeef; 09-22-2020 at 08:05 PM.. |
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