Looking to buy single or multi family in Austin, Texas

19 Replies

Hello BP team. I recently joined BP and have been reading many posts. This seems like such a great resource to meet smart and great people. I am considering investing in Austin as a remote investor (currently live in San Francisco). I have been using public (census) and private sources of data
(neighborhood scout) to get a feel of Austin's different neighborhoods. Some questions:

  1. - seems there are a lot of new developments in downtown -- is Austin being overdeveloped?
  2. - in other words, is this a good time to get into the Austin market?
  3. - what neighborhoods within or near austin are worth looking into?
  4. - any recommendations as to whether single home or multi home is preferred by those renting in austin?

Any suggestions or contacts you can refer me to would be fantastic! I'll be traveling to Austin for a few weeks in the near future to get a better sense of the neighborhoods. Happy to connect with anyone in person, via phone.

Looking forward to engaging with the BP community!

    Hi  @Renu Grover  - you're seeing the highest appreciation in both east Austin and in south Austin, specifically 78702, 78745, 78704, 78721, and 78723. Those are the areas I would buy, and where the largest buying force in the market - millennials - look to live. 

    Based on the months of inventory in Travis County floating in the low 2's all year with major developments being fully occupied I wouldn't say it is overdeveloped

    It is much easier to house hack a multi-family, but either MF or SF are good options in the right areas.

    1. - seems there are a lot of new developments in downtown -- is Austin being overdeveloped?
    2. NN> we still have a housing shortage, you can see inventory stats
    3. - in other words, is this a good time to get into the Austin market?
    4. NN> You can't time the market but if you buy smart in a good location with Austin's growth and economy it's hard to go wrong
    5. - what neighborhoods within or near austin are worth looking into?
    6. NN> North Austin has the most growth
    7. - any recommendations as to whether single home or multi home is preferred by those renting in austin?
    8. NN> Single family for appreciation and MUF for cash flow

    @Shawn C. For the near term it will be strictly rental as I am currently based in SF. Goal is to move out to Austin over the longer term so having a presence in advance is important. Even if I don’t move to Austin permanently, I’d like to have a place or few to stay or to offer family in the future. Goal for now is + appreciation w cash flow positive if possible.

    Originally posted by @Shawn C. :

    @Renu Grover What is your monthly target cash flow for a SFR?

    difficult for me to answer this because i am so early in my search and my primary focus is to find a property (or properties) that will appreciate and return over the long term. also i am not finding many properties that model out to have positive cash flow (post expenses and vacancy allowances). what is a reasonable expectation for a prime or up and coming location? 

    @Renu Grover

    Some thoughts for ya...

    1. - seems there are a lot of new developments in downtown -- is Austin being overdeveloped? Vertical condos all day. Not going to CF
    2. - in other words, is this a good time to get into the Austin market? Depends what, where, your goals. But yes! North/South ATX and the burbs for both SFH, MFH.
    3. - what neighborhoods within or near austin are worth looking into? North Burbs
    4. - any recommendations as to whether single home or multi home is preferred by those renting in austin? There's a strong market for both, more specific to area, property.
    Originally posted by @Shawn C. :

    @Renu Grover That is really a hard question to answer. I suggest reading @Caleb L. Blog post. It is a really good one and I think it will give you better self insight than I can offer you.

    Thanks a lot for the comment Shawn! I don't currently have a blog on BP, but I might some day. Every once in a while I'll post something like that.

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