Multifamily Newbie in the Austin Central Texas Area
Member since 2024 · 3 posts · 1 vote
Multifamily Newbie in the Austin Central Texas Area
7 Replies
- 2yJordan MoorheadBusiness MemberReal Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
Come to our Austin Investor Social Hour next Thursday at 7 at Draught House Pub and Brewery! There will be lots of multifamily investors there
The Moorhead Team5140 Reviews - Member since 2020 · 4 posts · 1 vote2y
Welcome to BiggerPockets, Brandon!
It’s awesome that you’re diving into the world of multi-family investing, and starting with The Multifamily Millionaire is a solid choice. Here’s some advice to help you get started on the right foot in the Austin market:
- Understand the Market: Austin is a dynamic and competitive market with a mix of tech-driven professionals, students, and long-term residents. Take time to study the specific neighborhoods where you want to invest. Look at factors like job growth, population trends, and rental demand. Sites like NeighborhoodScout or even just attending local city planning meetings can provide insights into where the city is growing.
- Network with Local Investors: Building relationships with experienced investors in Austin can accelerate your learning curve. BiggerPockets meetups, local REI clubs, or even connecting with investors through social media can give you a firsthand look at what's working in the market.
- Start with a Solid Deal: It’s easy to get excited and jump into the first deal that comes your way, but patience is key. Make sure your first property has strong fundamentals—good location, cash flow, and potential for appreciation. Running the numbers thoroughly will give you confidence that you’re making a wise investment.
- Leverage Local Knowledge: Partner with a real estate agent or broker who specializes in multi-family properties in Austin. Their local knowledge can be invaluable, especially when it comes to negotiating deals and understanding the nuances of the market.
- Focus on Learning: As a new investor, every experience is a learning opportunity. Don’t be afraid to ask questions, seek advice, and even make mistakes. The BiggerPockets forums are a treasure trove of information—take advantage of it by asking specific questions as you progress in your journey.
- Plan for the Long Term: Multi-family investing is a long-term game. Set clear goals for what you want to achieve—whether it’s cash flow, building equity, or scaling your portfolio—and make sure each investment moves you closer to those goals.
Starting your journey with a solid foundation of knowledge and a network of supportive investors will set you up for success. Best of luck with your first deal, and feel free to reach out if you have any specific questions. The BiggerPockets community is here to help!
- Member since 2024 · 3 posts · 1 vote2y
Quote from @Jordan Moorhead:
Come to our Austin Investor Social Hour next Thursday at 7 at Draught House Pub and Brewery! There will be lots of multifamily investors there
Hey Jordan, thanks for replying. I work late on Thursdays. Do you guys meet every Thursdays or on different days? I would like to come to the social hour
- Member since 2024 · 3 posts · 1 vote2y
Quote from @Chris Ludwig:
Welcome to BiggerPockets, Brandon!
It’s awesome that you’re diving into the world of multi-family investing, and starting with The Multifamily Millionaire is a solid choice. Here’s some advice to help you get started on the right foot in the Austin market:
- Understand the Market: Austin is a dynamic and competitive market with a mix of tech-driven professionals, students, and long-term residents. Take time to study the specific neighborhoods where you want to invest. Look at factors like job growth, population trends, and rental demand. Sites like NeighborhoodScout or even just attending local city planning meetings can provide insights into where the city is growing.
- Network with Local Investors: Building relationships with experienced investors in Austin can accelerate your learning curve. BiggerPockets meetups, local REI clubs, or even connecting with investors through social media can give you a firsthand look at what's working in the market.
- Start with a Solid Deal: It’s easy to get excited and jump into the first deal that comes your way, but patience is key. Make sure your first property has strong fundamentals—good location, cash flow, and potential for appreciation. Running the numbers thoroughly will give you confidence that you’re making a wise investment.
- Leverage Local Knowledge: Partner with a real estate agent or broker who specializes in multi-family properties in Austin. Their local knowledge can be invaluable, especially when it comes to negotiating deals and understanding the nuances of the market.
- Focus on Learning: As a new investor, every experience is a learning opportunity. Don’t be afraid to ask questions, seek advice, and even make mistakes. The BiggerPockets forums are a treasure trove of information—take advantage of it by asking specific questions as you progress in your journey.
- Plan for the Long Term: Multi-family investing is a long-term game. Set clear goals for what you want to achieve—whether it’s cash flow, building equity, or scaling your portfolio—and make sure each investment moves you closer to those goals.
Starting your journey with a solid foundation of knowledge and a network of supportive investors will set you up for success. Best of luck with your first deal, and feel free to reach out if you have any specific questions. The BiggerPockets community is here to help!
Wow Chris, Thanks for all of the information and I will definitely follow these steps. Yes, patients is the key because I can feel myself getting anxious. Again, thanks for replying and the great information that you provided.
- 2yAlecia LovelessPro MemberMember since 2019 · 3k+ posts · 2k+ votes
@Brandon Griggs Network as often as you’re able. 5 years in I’m just starting to build contacts and get known in my area.
Through one of these relationships I’ve gotten my first off market deal. The appraisal just came back and I’ve got instant equity because the appraisal came in higher than my purchase price.
I’ve also gotten 2 great deals from what were essentially pocket listings. I’ve worked with and been friends with my realtor for about 25 years now and he has gotten me many great deals as well as providing me with solid advice.
- Real Estate Agent · Austin, TX · Member since 2024 · 4 posts · 1 vote2y
Hey Brandon,
I work in investment real estate in and around ATX and love what I do. I'd love to connect with you and help you learn more about MFH investing. Where were you thinking about looking for your first deal?
Lets connect
Andrew Morse
- Realtor · Phoenix, AZ · Member since 2017 · 117 posts · 78 votes2y
Hey @Brandon Griggs congrats on getting into real estate investing! Since you are looking at multi-family properties in Austin, you have a great opportunity to get into the college rental market. I'd suggest getting connected with local property managers who have experience with that niche.
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