Just starting out in Austin TX

Starting Out
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Just starting out in Austin TX

Luke O'Connell
Member since 2021 · 2 posts · 3 votes

Hello I am looking to get into the real estate game for the first time. I am a 25 year old living in Austin TX. Up to this point I have only ever invested into crypto and I plan to take some profits out of there by the end of this year to use for getting my first single family. I have been listening to the BiggerPockets podcast for while and my thoughts right now are that I will be house hacking and renting out all of the bedrooms. Glad to be here and excited to learn more and get into the game!

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Jordan MoorheadBusiness Member
Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
4y

@Luke O'Connell good move! I just closed on my 4th two unit househack but have agents on my team doing both the multifamily and single family rent by the room models. Both work, just do one as soon as you can! I continue to do it over and over and it's worked very well for me.

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  • Jeffrey Albaum
    Investor · Austin TX · Member since 2018 · 151 posts · 165 votes
    4y

    @Luke O'Connell Congratulations on taking the first step! I'm also a 25 year old investor and will be moving to Austin in about a month. If you ever want to chat real estate, let me know!

    1Reply
  • Luke O'Connell
    OP
    Member since 2021 · 2 posts · 3 votes
    4y
    Originally posted by @Jeffrey Albaum:

    @Luke O'Connell Congratulations on taking the first step! I'm also a 25 year old investor and will be moving to Austin in about a month. If you ever want to chat real estate, let me know!

    Oh awesome! I will definitely keep in touch.

    0Reply
  • Brooke RoederBusiness Member
    Real Estate Agent · Austin, TX · Member since 2021 · 27 posts · 22 votes
    4y

    Congrats Luke! I bought my first house in Austin around the age of 25, about 10 years ago. I house hacked a duplex and it was the best move I ever made. It kept my overhead down low enough that I could pursue other entrepreneurial businesses I had in the works, AND I was able to leverage that investment several times over before finally selling it a few years ago. It’s a good move! Especially when first starting out.

    [email protected]512-964-8379
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  • Ed Brancheau
    Real Estate Coach · San Diego, CA · Member since 2019 · 164 posts · 121 votes
    4y

    I'm a 48 year-old investor that wishes I had started at 25 and had known about house hacking.

    That's where I'd start. House hack a quad, duplex, or even a single family with an ADU or tiny house in the backyard that you live in and rent out the house.

    And consider that having roommates living in your house is also house hacking. because your roommates might end up covering your mortgage.

    There are so many options but BP is the best place to start.

    2Reply
  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    4y

    @Luke O'Connell good move! I just closed on my 4th two unit househack but have agents on my team doing both the multifamily and single family rent by the room models. Both work, just do one as soon as you can! I continue to do it over and over and it's worked very well for me.

    [email protected]512-888-9122
    The Moorhead Team5140 Reviews
    WebsiteView Page
    2Reply
  • Ryan KellyBusiness Member
    Real Estate Broker · Austin, TX · Member since 2018 · 1k+ posts · 1k+ votes
    4y

    @Luke O'Connell house hacking is the #1 way to start building equity in real estate when you are young. You don't have to put much money down and you can start making money from roommates/tenants. When you elect to move to a new property, you simply keep the current one and transform to a full rental. You'll love Austin!

    [email protected]512-674-5478
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  • Chandler Kimble
    Lender · New Braunfels, TX · Member since 2021 · 27 posts · 9 votes
    4y

    Great strategy and one of the easiest ways to get started! Happy to answer any lending questions you have as I've been through several personal purchase transactions and am familiar from the professional perspective as a lender in the area as well. 

    1Reply
  • Jesus RomanBusiness Member
    Real Estate Agent · Houston, TX · Member since 2020 · 175 posts · 75 votes
    4y

    @Luke O'Connell exciting stuff! I personally househack my first investment here in Houston and it has been phenomenal thus far. Have been doing it for a year and a half now, and I basically cover rent from the rents I acquire by the room. Goal is by April next year to move into a bigger deal and Househack it as well. 

    Cheers from Houston! 
     

    713-594-9124
    1Reply
  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    4y
    Originally posted by @Luke O'Connell:

    Hello I am looking to get into the real estate game for the first time. I am a 25 year old living in Austin TX. Up to this point I have only ever invested into crypto and I plan to take some profits out of there by the end of this year to use for getting my first single family. I have been listening to the BiggerPockets podcast for while and my thoughts right now are that I will be house hacking and renting out all of the bedrooms. Glad to be here and excited to learn more and get into the game!

    For your situation, House Hacking is the best place to start. Jump in and make it happen.

    Goodluck.

    [email protected]832-776-9582Podcast Guest on Show #469
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  • Matt Schmidt
    New to Real Estate · Austin, TX · Member since 2021 · 2 posts · 3 votes
    4y

    @Luke O'Connell , I am a 25 yr old in Austin as well and I just closed on my first house hack in August. I purchased a duplex in North Austin and it has been great so far. Id be happy to connect and chat!

    2Reply
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