New Invester: Need advice on what area of country I should invest
6 Replies
Amin Jalalzadeh
posted 12 months ago
Hi, so I am super duper new to this and would like to purchase my first property ever at the end of this year. I currently live in Houston, but not biggest the fan of the area and find the risk of investment high in this area due to flood. I would like to move to the Austin area and I was wondering in your opinion which area is the best area to purchase houses whether single-family or duplex? I sincerely appreciate your help! P.S: my budget for intial investment is about $60k.
Neil Narayan
Real Estate Agent from Austin, TX
replied 12 months ago
Is $60K your down payment budget as you won't find much for $60K sales price in Austin. SFR vs duplex has different pros and cons. I can give you more details if you PM me
Amin Jalalzadeh
replied 12 months ago
Thanks for your response to my post. I should clarify that my down payment would be around $60k.
Daniel Rainmaker
Investor from Houston, TX
replied 12 months ago
@Amin Jalalzadeh Austin is a great market. i here prices are really high there. like @Neil Narayan said there are pros and cons to either strategy, but generally ive found that in Houston, SFR's are great for appreciation and MF's are great for cashflow. Both have headaches but its more about what your end goal and life situation is
Julio R Gonzalez
New to Real Estate from The Woodlands, TX
replied 12 months ago
I've been searching MF's (good deal) in Harris and Montgomery county every day during my lunchtime and right before bed but I have found nothing that would provide cash flow (all that I've seen are already fixed and expensive). I've bee looking in the free MLS sites (HAR, Realtor.com, Zillo, etc) and also in FSBO sites oh an also Craiglist and nothing.
Do you have any suggestions?
Thanks,
JRG
Daniel Rainmaker
Investor from Houston, TX
replied 12 months ago
@Julio R Gonzalez there are certianly deals on those sites but it takes a massive amount of time and effort to look through them each day, not inlcuding the fact that you have to go through each one in order to see if its a deal or not. i personally prefer the MLS because i can enter my criteria and ill get emails everyday of properties that match