Real Estate Investor · Austin, TX · Member since 2010 · 26 posts · 2 votes
What strategies are working well in Austin, TX today?
I ask because the odds are good that I could land a job there and I think it is a good idea to invest where you are... Especially at the start.
Finding niches in wholesaling property works really well. We like to figure out what is being taught most in the majority of the training courses and target niches outside of that.
At one point most courses were teaching people to send direct mail to:
Absentee owners
3/2/2's
owned for 15+ years
Therefore, sellers who meet that criteria get marketed to by 10's of people per day.
Just looking slightly outside of that produced many deals for us that were 2/1's, 2/2's, owned for 10 years , owner occupied etc.
Geographically, Austin is a big area so your land acquisition strategy can be to either buy older tear-downs, which are usually more central, or go out further and buy brand new land. There are some lots available central, but they're priced the same as the tear-downs.
I'm not sure about the prices and competition for land out in the burbs, but as Bryan Hancock said, the Austin market is tight right now so if you're looking inside the city, competition can be fierce.
The rental market is extremely good right now in Austin. We are seeing good opportunities in mismanaged & under rented multifamily properties. Buying them low, fixing them to maximize rents, then either holding as a long term cash flow properties or selling to another investor for a profit.
That's exactly what we're searching for. We're in Louisiana, looking to reach outside the area and Austin is a prime candidate. Any pointers for an exo researching the area?
We have written probably 50 contracts this year and had 5 or so accepted. Most of the things we have purchased have been off market. So yeah....things are very tough; especially stuff on market.
Finding niches in wholesaling property works really well. We like to figure out what is being taught most in the majority of the training courses and target niches outside of that.
At one point most courses were teaching people to send direct mail to:
Absentee owners
3/2/2's
owned for 15+ years
Therefore, sellers who meet that criteria get marketed to by 10's of people per day.
Just looking slightly outside of that produced many deals for us that were 2/1's, 2/2's, owned for 10 years , owner occupied etc.
Hi my name is Jeff and I'm gearing up for 2015 to do wholesaling here in Austin, Tx. Would anybody like to give me some advice about how to get all the contracts for fsbo wholesale deals, and what Title Company will let me do these type of closings here in ATX.
Is wholesale and off market worth the risks and trouble. I have a decent portfolio now but always looking for deals. My goal is to have 50 rentals and retire.
I have good cash flow and willing to buy cheaper homes and even more expensive places with potential in hot areas of Austin.