I am a buy and hold investor of three single family homes (4th currently under contract) and feel a lack of community in terms of likeminded investors as myself. Would really enjoy to grab a beer to share stories and learn from others in Austin, TX. 28 year old, born and raised in Spain and newlywed. There has to be someone else out there!
Welcome to BP @Josh Twaddle and congrats on the 'newlywed' status.
I am a little confused by your statement:
lack of community in terms of likeminded investors as myself.
First, Austin is probably one of the better cities in the US for finding said people. I would believe it is more challenging at age 28 on a peer level. Unfortunately, the pool of people who have both the knowledge or education AND have taken action on that real estate education is smaller. Not to mention access to funding, etc.
Second, you are posting on the world's largest real estate education website with tons of people who have exactly that mindset! I promise they are out there, keep looking and have patience.
And I am curious, what area are you investing in and how have those SFRs done for you?
@Bryan Noth thanks for the reply! Awesome to see you are in Austin as well!
Currently have 2 properties in Round Rock, 1 in Cedar Park and the newest acquisition will be in Austin. Two of the properties I rent by room in order to get a positive monthly cash flow ($200-300/house). On the third property I break even as I am renting the entire home.
How many properties do you currently have currently? Are each of yours cash flow positive?
Thanks for connecting!
@Josh Twaddle welcome to BP. I am fairly new to Austin and in search of my first rental here.
@Gurmohanjit Singh that’s awesome! What area of Austin are you interested in?
@Josh Twaddle I am looking into North Austin as I am in Round Rock.
I see all your properties are North Austin, where you buying the 4th one?
@Gurmohanjit Singh I highly recommend finding one close to the domain or on partner lane as it will be minutes away the new $5B Apple Campus. I have one in Chisholm Valley and one in Cat Hollow (both are 8 minutes from Apple)
@Josh Twaddle thank you so much. Will definitely consider that.
@Josh Twaddle looking for realtors who can help me with the process.
I recommend Mark Ponton from Realty Austin
Hi @Josh Twaddle , sounds like we are in a similar investing stage. I completely understand where you are coming from- there are many opinions and it could be difficult to focus. I bounce back and forth San Antonio to Austin but would be interested in meeting and understand how your investing experience is going. I'll PM you.
Thanks Elizabeth for reaching out! Great to see you are also in the same stage would like to pick your brain when you are time. Let me know how I can help as well! Cheers!
I invest a little north of where you are (I have 5 MFH in the Killeen area), but I have started venturing south. I recently got under contract for an SFH in Georgetown.
Hello Josh, there was an investor meet up event in Austin yesterday. It was my first time attending but glad I was able to connect with others! These particular meet ups happen on the first and third Thursdays of the month. It’s on the “events” page on the site.
Welcome to the forum Josh! We are moving to Austin end of 2020 but we currently have 5 units in ATX with an offer on a duplex awaiting to hear from owner. Would love to connect with you when we finalize the move
I heard typical rent for duplexes in Austin is at 0.6% of purchase price. Is that what you expect for your duplex?
The one I'm picking up is right at 1%. Off market
That’s amazing Junior! Congrats on taking on a duplex. Just read your investment descriptions and extremely happy you and your wifes success! I won’t be able to wait until you move here in late 2020!
My wife and I would love to get our hands on a duplex but have only been able to get our hands on SFH due the elevated cost in Austin. Would love to connect via phone sometime to here what you recommend about this new build we are under contract for as it will be our primary residence in central East Austin. Btw do you speak Portuguese?, going off your last name :)
We can chat anytime brother text call whatever. We got super lucky with out 4plex in North Austin as I found the deal here on BP, our primary house is in Cedar Park on Butter Cup creek. The Duplex I'm offering is a little south.
And yes sir I speak Portuguese! I'm half Portuguese and half italian but I speak it almost fluently along with spanish of course
I speak Portuguese too!! My wife is from Spain. Is there anyway you can move to Austin earlier... 😂
I’ll send you a private message now!
I live and invest in the Houston area. I have looked at Austin before since my wife and I like to spend a lot of time in that area (we are outdoorsy and dont enjoy the Houston swampland much).
I have always had a hard time finding good deals in the Austin area. I know San Antonio is a pretty good market, but nothing in Texas beats the greater Houston market from my experience. Cash flows are around $300/mo on average from what ive seen in the last 6 months (single tenant per property) though appreciation is a bit lower in Houston than other parts of Texas, in general. I dont invest for appreciation though and only consider that bonus on top of the other returns.
If you are looking for better cash flow, i recommend checking out some of the other Texas markets. Even DFW seems to have more to offer than Austin from what ive looked at.
Congratulations on getting married and on a great start to your investing career! Wish you all the best.
First of all congrats on all the investment success you and your wife have been able to accumulate! Austin is for sure the lifestyle city my wife and I love as well. Currently getting my cash flow through renting out single-family homes per room so we have six tenants so far for a first two homes. The only way was to get out of Austin and go a bit north to round rock and Cedar Park. Have you looked at those areas?
@Josh Twaddle While I am not in TX, I did this in my home town and it was the single most rewarding thing I could have done! Good luck in your endeavors and in hearing sound advice in person from someone like minded!
May I suggest you checkout W2-RE meetup (next meeting in Jan 16th)?
And also APLBNM future meetings?