Updated over 6 years ago on . Most recent reply
New to BP - Austin Area
Hi Everyone!
My name is Noel and I'm a completely new to REI. I've been consuming at least a podcast a day and lurking on the forums for the last month. I'm ready to start seriously analyzing deals and building a team!
Right now I live in Austin TX, which comes with a rather large mortgage. I'm thinking about moving to a SFH in a more affordable area within an hour of the city in order to reduce the mortgage by 1/3. My logic for this is 1) SFH don't cash flow very well in Austin city limits, though they have been appreciating quite well and 2) there's heavy competition for multi-family in the area and good/mediocre deals go quickly. If I reduce my personal expenses and capitalize on the sale/break-even rental of my current residence, I can use the increased cash flow and my existing savings to BRRR SFHs in the greater Austin area. Then I have the option to rent out the "affordable area" SFH to generate additional cash flow and get into multi-family after building that base of properties.
I'm particularly looking at the Belton and Temple areas, as they are still relatively affordable, close to healthcare, university, and military jobs, and have access to major roadways.
Has anyone started their investing careers in a similar way or involved in the greater Austin area? I'd love to hear any advice you have to offer!
Most Popular Reply
Welcome! I am getting started myself and live in the Belton area. It is certainly less expensive overall than Austin, although Belton itself is certainly not cheap. Seems some Austin investors (among others) have already found us! Good luck! It does seem with Apple's new campus opening in North Austin there should be growth all along north 35, maybe even all the way past Jarrell.