First time investor in Austin TX and surrounding
Hi, I am nearly ready to purchase my first investment property but hoping to get some advice on which areas in Austin (or surrounding) are good based on my goals (below). I am in California, so doing this mostly remote.
-I am looking at single-family homes ($230 - $300k price point) and hoping to have at least a little cash flow, with the larger goal being appreciation. I may keep this property and pull money out in a few years to buy another prop...or just let it sit and continue to appreciate... (I don't know the exit strategy yet - but I like the direction of where Austin is going with tech companies, Tesla factory, etc. and hope the appreciation will continue.)
-What areas should I be looking? I have looked in Pflugerville, Round Rock area, but now looking out to Buda and Kyle as price points are more in the mid-$200s (and a little more comfortable with mid-200s). Thoughts on these neighborhoods and specific subdivisions to look?
-And, will I successfully be able to easily rent the house out in these more remote neighborhoods (Kyle, etc.)?
-And, do you think cashflow (even if modest) is still possible in any of these above?
-And, are these tract housing communities good for rental props and appreciation...or should I steer clear?
-I will need property management for now, but there is a chance I will move there, so I like the idea of owning an investment prop. where I will move so I can potentially manage one day myself.
(I greatly appreciate the help. I have worked really hard over the last 10 years to save money, doing this on my own starting with not a ton of knowledge in the real estate area so thank you in advance for insights, comments, resources, advice, etc.!)