Newbie from Austin, Texas. Interested in multi family / Brrrr

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Newbie from Austin, Texas. Interested in multi family / Brrrr

Christopher Bothwell
Member since 2019 · 4 posts · 3 votes

Hello,

I am from Austin, Texas.  I recently found BiggerPocket's podcast on YouTube after reading Rich Dad Poor Dad. 

After listening to several of the podcasts I've become interested in Real Estate investing, and attempting to use the Brrrr strategy for an investment. I'd like to learn more about how to do creative financing in combination with Brrrr.

I'm not sure that there are Brrrr opportunities in the city itself, but I would like to try to find some deals along the I35 corridor, perhaps as far South as San Antonio.

I'd also like to meet some folks in the BP community, and in particular if you live in my area and are at about the newbie level like me.

Thanks y'all

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Jordan MoorheadBusiness Member
Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
7y

I'd recommend starting by househacking. BRRRR is an advanced strategy that requires a lot of upfront capital. Good investments can be had in Austin.

[email protected]512-888-9122
The Moorhead Team5140 Reviews
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  • Conrad Metzenberg
    Rental Property Investor · Santa Barbara, CA · Member since 2015 · 78 posts · 34 votes
    7y

    i35 is an area i like too. 

    0Reply
  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    7y

    I'd recommend starting by househacking. BRRRR is an advanced strategy that requires a lot of upfront capital. Good investments can be had in Austin.

    [email protected]512-888-9122
    The Moorhead Team5140 Reviews
    WebsiteView Page
    2Reply
  • Tyler Entz
    Atlanta, GA · Member since 2019 · 1 post · 1 vote
    7y

    Hey Chris, 

    Congrats on starting your journey! I would highly recommend attending a local meetup to network with other local investors. I just attended my first local meetup in Atlanta, GA and it was very valuable for me. 

    What I have found is that most of the really good deals are off market so your ability to network and meet the right people will help set you up for success. 

    Hope this helps. 

    Thanks,
    Tyler  

    1Reply
  • Ian Gilligan
    Rental Property Investor · Dayton, OH · Member since 2018 · 108 posts · 48 votes
    7y

    Hey Christopher, welcome to BP and good luck BRRRRing! 

    0Reply
  • Christopher Bothwell
    OP
    Member since 2019 · 4 posts · 3 votes
    7y

    @Jordan Mooread. Thank you, I'll take a look into that

    @Tyler Entz I think that's a good idea. I have found several meet up groups in Austin but I'm probably going to have to look to see which ones align better with my goals

    0Reply
  • Matt Hershberger
    Riverdale, GA · Member since 2019 · 49 posts · 27 votes
    7y

    @Christopher Bothwell Rich Dad Poor Dad is one of the reasons I got into Real Estate! Puts things in very simple terms. A piece of advice is to download the Meetup app and search for groups meeting in your area about real estate investment. This, in my opinion, is one of the best ways to meet others and learn. Good luck!

    0Reply
  • Kevin Kizer
    Member since 2019 · 7 posts · 1 vote
    7y

    @Matt Hershberger What is the Meetup app that you're referring to?

    0Reply
  • Christopher Bothwell
    OP
    Member since 2019 · 4 posts · 3 votes
    7y

    @Matt Hershberger Thank you, yes I have been look for groups on meetup

    @Kevin Kizer He is referring to this app I believe 

    0Reply
  • Matt Hershberger
    Riverdale, GA · Member since 2019 · 49 posts · 27 votes
    7y

    @Kevin Kizer it is an app called "Meetup". It is a great way to find local people who share your hobbies and interests. Would definitely recommend it for real estate purposes.

    0Reply
  • Joshua Esparza
    Wholesaler · Austin, TX · Member since 2018 · 10 posts · 3 votes
    7y

    Hey Chris,

    Congrats on beginning your new journey. I've seen most investors get their start househacking a duplex or even a triplex. Which will be a little tough to do in Austin considering they can be often hard to find at the price you'd find best fit for a first investment. However, I would encourage you to network with the everyone here in the Austin area through local meet ups. I'm a hard money lender here in the Austin area so when you are ready give me a shout and I can give you more info on our terms and rates. Best of luck!

    PM if you'd like a list of events that are local in the Austin area. 

    0Reply
  • Nick Sheveland
    Rental Property Investor · Austin, TX · Member since 2018 · 128 posts · 84 votes
    7y

    Welcome to BP Chris! I agree with @Jordan Moorhead Brrrr in Austin is very tough without putting down a very large DP. House Hacking and wholeselling might be better suited for someone in your shoes. I'm still a beginner and I've been self educating for nearly two years now mainly by listening to all the BP podcast shows (REI, Money, Business) and I'm closing on my first property, a duplex to house hack later this week. If I were you I would continue to listen to the podcasts and read books. I would also find a GOOD agent and have them set you up on a auto listing email. Also Austin is extremely expensive and houses here sell fast. Finding a property off market is key. I would recommend driving for dollars, door knocking, and sending mailers. Also if you haven't yet look and any and all properties you're interested in at the tax website Travis County CAD>Property Search. Also I recommend using the calculators here and run numbers 80-100 times that way you start to see first hand what a good deal looks like.

    0Reply
  • Diogo Alves
    Rental Property Investor · Auckland, New Zealand · Member since 2019 · 31 posts · 21 votes
    7y

    Welcome @Christopher Bothwell! 

    I'm interested in learning about the Austin market as well. For those who invest there, is it feasible to find 1% rule properties? And how's the market looking for appreciation? Still rising or reaching the top? 

    0Reply
  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    7y

    @Diogo Alves I bought a two unit last year for $250k that rents for $3000!

    [email protected]512-888-9122
    The Moorhead Team5140 Reviews
    WebsiteView Page
    1Reply
  • Diogo Alves
    Rental Property Investor · Auckland, New Zealand · Member since 2019 · 31 posts · 21 votes
    7y
    Originally posted by @Jordan Moorhead:

    @Diogo Alves I bought a two unit last year for $250k that rents for $3000!

    Amazing! Good to know they are out there. Did you find it off market and did it need an extensive rehab? 

    0Reply
  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    7y

    @Diogo Alves it was on the mls and needed quite a bit of rehab. I spent $60k and it’s worth $400+

    [email protected]512-888-9122
    The Moorhead Team5140 Reviews
    WebsiteView Page
    0Reply
  • Diogo Alves
    Rental Property Investor · Auckland, New Zealand · Member since 2019 · 31 posts · 21 votes
    7y
    Originally posted by @Jordan Moorhead:

    @Diogo Alves it was on the mls and needed quite a bit of rehab. I spent $60k and it’s worth $400+

     🔥🔥🔥Awesome result! Just curious, did you manage that rehab at a distance? If so, did you already have a team in place in Austin, or did you build one for this deal? 

    0Reply
  • Kelvin Duen
    Westchester, NY · Member since 2019 · 24 posts · 6 votes
    7y
    Originally posted by @Jordan Moorhead:

    @Diogo Alves I bought a two unit last year for $250k that rents for $3000!

    Wow, that's amazing! What part of Austin? I'm heading there in August to check out the city

    0Reply
  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    7y

    @Diogo Alves yes I did and I found a great contractor after my realtor helped me get it under contract

    [email protected]512-888-9122
    The Moorhead Team5140 Reviews
    WebsiteView Page
    0Reply
  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    7y

    @Kelvin Duen this was in East Austin off of Ebert, deal is in my profile too

    [email protected]512-888-9122
    The Moorhead Team5140 Reviews
    WebsiteView Page
    0Reply
  • Kelvin Duen
    Westchester, NY · Member since 2019 · 24 posts · 6 votes
    7y

    What the... i didn't know you can see member's portfolios. Still learning to navigate through this site. Awesome work @Jordan Moorhead

    1Reply
  • Justin WindhamPro Member
    Banker · Nationwide · Member since 2015 · 4k+ posts · 1k+ votes
    7y

    @Christopher Bothwell

    Welcome to Bigger Pockets!

    This is a great place to learn and network. A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.

    0Reply
  • Jarrod Covey
    Lender · Austin, TX · Member since 2018 · 241 posts · 136 votes
    7y

    Hi @Christopher Bothwell  - welcome to the forum for real estate investing. BP has a lot of great resources, of those resources the network of people is the strongest resource offered. Let's keep in touch!

    0Reply
  • Christopher Bothwell
    OP
    Member since 2019 · 4 posts · 3 votes
    7y

    Thanks for the welcome @Jarrod Covey and @Justin Windham

    2Reply
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