Looking to purchase investment duplex in Austin

[Joanna Cheung]

Hi All, 

I'm so glad to have found this forum! My father recently died and I'm selling his house in Dallas. I'm interested in purchasing an investment duplex in Austin with the proceeds from the sale. Does anyone have any tips for managing a property from out of state? I live in New York but my friends and family live in Austin. I'm studying to get my New York realtor license and having property management experience could potentially benefit my career.

[Bruce Lynn]

Sorry to hear about your dad.  This is never easy.  Good news is that sales have been pretty good in Dallas and I expect the good times continue this Spring and Summer.

Austin will likely be tough to find the right property where the economics make sense for most investors.  However if you live in Austin and have an idea of which neighborhoods continue to be popular year after year, maybe you just buy and sit on it for a lifetime of income.

I haven't lived in Austin for years, but just like many other big cities, one thing to consider is looking at the smaller towns around Austin that will be forced to grow.  I see growth right now all the way to Temple/Killeen area on the north side, west to Dripping Springs, on the East side to Bastrop and I would even consider all the way to Brenham.   On the South side all the way to San Antonio.  Some of these cities probably still have lower prices and decent rents and will also see growth over the next 10years or more.   There are plenty of people who work remote and want cheaper rent, or want smaller town life, but want to be close to the big city.

Good luck and best wishes.