Just starting out in Austin TX

10 Replies

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!

Promotion
Speed To Lead
Buy hot seller leads w/o subscription
Buy daily seller leads that are actually ready to sell
Finally there's a place where you can buy leads that asked for urgent help selling their house
Sign up for free

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.

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.

@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.

@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!

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. 

@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! 
 

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.