Newbie scaling up in Austin

5 Replies

Hi all.  I am new to the forum as of a couple of months ago, and am looking to scale up our real estate investments.  Looking forward to connecting with you all to learn more about our market here in Austin and find some new opportunities, preferably in multifamily.  We are looking primarily to buy and hold with positive cash flow.

@Bruce Myers

Welcome. 

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). Find them through Google and meetup.com

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul 

Thanks for the recommendations. I already read J Scott's books and am listening to all the podcasts. Also attended a REIA meeting, although the local one seems to be run by a guru so it wasn't terribly useful. Have already made some great connections through BP though. As for prices in Austin, yes they are high and cash on cash returns aren't great, but I am sticking to investing where I know and can get to easily at this point. Also the future of Austin looks solid so the returns from appreciation should be pretty steady. Thanks for all the recommendations.

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