Updated over 5 years ago on . Most recent reply
Looking for rental Investment in Austin, TX
Hello all,
My wife and I live in Orange County CA and we are looking into purchasing an investment property out of state. We like Austin TX because we are big music lovers, and it seems like Austin TX just keeps growing. We don’t know much about the neighborhoods in Austin so we are looking for some guidance. We will be traveling to Austin this upcoming Friday and will be there for 5 days to check out different neighborhoods and get a feel for things.
Our budget is up to $400k (less would be nice), and we would put down a 25% down payment. We are looking to hold the property for many years, so something that will cash flow is very important. Another thing that I think would be nice is to find a newer home so we don’t have to worry about big expenses like roof replacement, or AC replacement anytime soon.
Any suggestions to areas we should look into would be great.
Thanks!
Mike
Most Popular Reply
I love the recommendation for the suburbs, but not every suburb has the same growth rates. The adjacent suburbs (Pflugerville, Round Rock, Cedar Park) have seen strong growth but others such as Buda, Kyle, and San Marcos are a bit further out and not seeing the same effect from Austin's growth. The outlier suburb markets very well could grow, but historical trends show strong patterns that already exist in the adjacent suburbs.