Hello BP, I’m looking to move to Texas in the near future and my plans are to buy a sfr with as many rooms as possible and rent by the room.
Anyone familiar with the Georgetown Austin area that is currently house hacking.
I’d love to chat. Thank you!
Hi @Leo Padilla and a preliminary welcome to Texas! Love that strategy and I would recommend digging into the local ordinance and occupancy laws. The Austin area does have a 'maximum numbers of unrelated adults per dwelling'. This differs from state to state as well as for SFH and multifamily properties respectively. For the Austin area this mainly inhibits the idea of buying an 8 bedroom house and renting all those rooms out. And keeping a good a high bathroom to bedroom ratio is a big bonus for prospective renters. Link is included below for reference and would be glad to connect!
@Leo Padilla we love Georgetown! I househack in East Austin but am helping another client househack a duplex in Georgetown right now.
@Leo Padilla I love the Georgetown area and it actually has a higher average price point than Round Rock even though it is farther from Austin. This is because Georgetown has a beautiful historic downtown area and attracts a lot of good middle-class retirees who have money to purchase nice big homes. There is a lot of new construction around the market, and more affordable communities in the SE Georgetown area. A five-bedroom home is ideal for your strategy, especially if you can have at least 3 full bathrooms.
@Leo Padilla welcome to BP and congrats on starting your REI journey!
Awesome, thanks for the advice @Bryan Noth . A 4 br home will suffice. I plan to reside in one, obviously, rent 2 and Airbnb the 3rd.
so I’m sure it’ll pass through code, right?
@Jordan Moorhead I was looking to originally house hack with a mfh but I couldn’t find any properties on the market ie Zillow.
MFH would Be more ideal for my situation due to having a family.
@Ryan Kelly that’s great! Yeah I love how nice Georgetown looks, and I’m actually alil familiar with the area due to being station in fort hood during my time in service.
so I can’t wait to head back.
Thanks @Dmitriy Fomichenko
@Leo Padilla they're out there but they go quickly!
Looking for a lender that’s investor friendly with va loan.
also, a question about rental income. So I know if I purchase a mfr I can use the rents as income. Does anyone know if I can do the same with sfr if my initial plan is to rent the rooms out?