Hello all, curious if any investors are vetted in the Austin housing market and some general insight to their approach?
Hey @Joseph Villasenor - Austin is hyper-competitive right now, with multiple-offers commonplace and only about two weeks of inventory in the Austin MSA. Folks that are pulling the trigger on investment properties right now are generally fine with near-term negative cash flow, or they are putting more than 20% down to get to equilibrium. More rarely, they are house-hacking/finding off-market deals. That said, if your goal is appreciation and you have patient capital, there are no signs of anything slowing down. I believe we will see double-digit appreciation in many areas for the next year plus. Let me know if I can be of help.
@Joseph Villasenor I'm doing all multifamily househacking here and love that strategy
@Joseph Villasenor and @Jordan Moorhead have said, Austin is hyper-competitive at this time with record-low inventory. Even "off-market" properties tend to have strong competition and multiple offers. Homes are currently selling 25% higher on average than they did 12 months ago, so massive appreciation. The term "deal" will completely depend on your goals and long-term plans with the property.