Hello BP members!
I'm currently graduating Texas Tech University and moving to Austin, TX in January to start my new full-time role in a tech company. I've been intrigued in real estate for quite some time now, but just hadn't been ready since school had taken up my time as well as money. I've been reading all the books I can on investing, rentals, reading BP forums, and listening to all the podcasts I consume. I'm looking forward to networking with other investors at the Austin REIA come January and taking my first steps in real estate investing. I'm currently looking to do single family home rentals in the Austin area while working full-time. Any advice on what to look for, tips on renting, etc. would be greatly appreciated. Thank you in advance!
Welcome Justin! Very happy to see you taking initial steps towards investing in RE. Few things that my business partner and I like to look at when purchasing SFH is the level of rehab required and whether the comps are there to justify that. Getting a rehab budget is the toughest part and to start off I would get multiple bids for sure. On renting, if you buy through a broker, he will also be able to pull rental comps for you, which would be helpful upfront. Best of luck!
@Justin Davis I would definitely start with something you can househack whether it's a SFH, SFH with an ADU or Duplex. Reducing your living expense in a higher cost area like Austin will be very important to help you get started investing. There are tons of great groups in Austin too. I have a SFH w/ ADU in East Austin that's done well for me. Welcome!
Welcome to BP! As I tell a lot of new members, "Nothing comes from nothing, so go out there and get it done!"
I'm sure you'll have a lot of success!
Best of luck to you in your REI journey.
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.
Discounts on some products and services are offered to BP members: https://www.biggerpockets.com/perks/pro
The site has quite a few tools that can be helpful for new members. I like the search features: https://www.biggerpockets.com/search
Alerts can be really helpful too: http://www.biggerpockets.com/alerts
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you