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Jon McCarron
Pro Member
  • Real Estate Agent
  • Salem, MA
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114
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Out of State rentals: Austin, TX

Jon McCarron
Pro Member
  • Real Estate Agent
  • Salem, MA
Posted Nov 14 2014, 08:37

Hello All,

Recently, 2 old college roommates of mine moved to Austin, Texas. I told them that I can't wait to make a visit down there (I am currently in Massachusetts) to see them, and check out the city. But giving it some thought, I figure, why not check out some real estate while I am there. I have not done out of state deals before, so I am not sure how I would get started with it. I think I am going to plan and visit those guys in March 2015, so like 5 months away. 

My strategy would be buy and hold rental/s that produce positive cash-flow. Single or multifamily homes.

I am currently listening to any BP pod-casts related to out of state investing, and reading any blogs and forums about the subject as well. And I figure I would send this out to get even more perspective.

My questions are as follows:

1) What are some good places to start research about the city? Websites, blogs, newspapers?

2) How/ when would I consider building contacts/team for Austin? Suggested property management companies or real estate agents or agencies.

3) Any suggestions on areas to avoid, or any areas to definitely check out?

Thank you for any and all advice! 

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