I'm currently in NYC but realizing it's hard to find SFH or Condos in NYC to start my real estate investment journey. I listened to the BP podcast and Texas seems like a good opportunity. I'm looking at SFH ($150 to %250K range) in the surrounding suburbs of Austin. I'm looking to start by using a conventional home loan, put 20% down (30 year mortgage). Also plan on using a Property Manager. What advice can you give? TIA!
Rental Property Investor · CA · Member since 2019 · 65 posts · 53 votes
7y
Property management should be a bigger consideration than other areas. One manager ghosted us after years of working together. We have a C+/B- duplex in North Austin with solid income and still struggled to find a replacement manager willing to take us on. Some managers only work a certain portion of the city. Some only want the cream. PM for the company we landed with. They are wonderful.
Flipper/Rehabber · Fayetteville, AR · Member since 2016 · 130 posts · 62 votes
7y
@Min Kwon There are a lot of investors and real estate professionals on this forum that should be able to give some great advice and help you reach your goals.
My advice would be to study the market and the submarkets because each town and even neighborhood can have their own advantages and disadvantages. Find someone you can trust to provide deals to evaluate and then verify that they're giving you the full picture.
Flipper/Rehabber · Fayetteville, AR · Member since 2016 · 130 posts · 62 votes
7y
@Min Kwon I'm investing in San Antonio and currently live in San Marcos so feel free to reach out anytime if you want any information about the I-35 corridor area.
Rental Property Investor · CA · Member since 2019 · 65 posts · 53 votes
7y
Property management should be a bigger consideration than other areas. One manager ghosted us after years of working together. We have a C+/B- duplex in North Austin with solid income and still struggled to find a replacement manager willing to take us on. Some managers only work a certain portion of the city. Some only want the cream. PM for the company we landed with. They are wonderful.
Real Estate Broker · Austin, TX · Member since 2016 · 834 posts · 449 votes
7y
Lots to think about in Austin. There is not much cash flow unless you step outside the city. You will also need 25% down normally. Give me some more specifics and i can help.
Lender · Austin, TX · Member since 2018 · 241 posts · 136 votes
7y
Hi @Min Kwon - there are turnkey opportunities in your price range and within the closest suburbs - like Pflugerville, Round Rock, Georgetown, Kyle, and Buda. Round Rock is the most popular buy & hold suburb with inventory last less than 24 hours.