Updated over 6 years ago on . Most recent reply
Where to start investing in Austin Texas
Looking to get started investing in the Austin area. Interested in both flips and rentals. Any investor/realtor contacts or people who would be good to work with? Thanks in advanced.
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@Edwin L. the short answer is no. Long term rentals in town are closer to .7% of purchase price per month. You mentioned ARV which would account for some sweat equity improvement and also perhaps an under-rented property. Those situations help but Austin is largely an appreciation play at this point. Most entry-level single family homes and duplexes are priced such that they will just cover the monthly payment, repairs, and property management with 25% down. Over time, cash flows should increase but immediate cash flows in Austin typically requires house hacking or short term rental. AKA, additional work.