Making it beautiful in Austin, TX!

10 Replies

I didn't realize I had become a real estate investor when I bought the abandoned house across the street and renovated it with plans to rent — I really I just wanted to save the charming 1940s cottage. The project came with a mountain of reno knowledge to add to my handyman knowledge, and grew a love of GC'ing projects (and a lot of heartache and screaming, but that's for another episode).

After running the numbers, I realized it was better to move into the completed cottage (950 sq ft) and rent my previous primary residence (1300 sq ft) as a month-to-month furnished rental. That house is now in its second month of returning $1100/month net.

I'm ready to make real estate investing my full time job in 5 years, with my biggest interests in small multi-family (2-6 unit) buy & hold rentals in the Austin-San Antonio corridor plus Houston, and will probably feel the bug bite again to take on another BRR project as the second or third house (let a gal rest for a minute!) as it is my passion.

Diving in to learn everywhere I can. Already attended an Austin Real Estate InvestHER meeting (smart gals!), so happy to find BP (where do I even begin!??!), and welcome all the knowledge of this community!


Congrats on your success so far.  You are off to a great start.

You are fortunate to be living in Texas as it is a great market for real estate investing.  We've done a lot of investing in Texas from Detroit.

Since you are already in the vicinity of one of their offices, you should check out Lifestyles Unlimited. They can help you take your investing to the next level.   Check them out here: 

https://lifestylesunlimited.com/workshops/austin-texas/

Originally posted by @Kelly Stevens :



After running the numbers, I realized it was better to move in

The books and podcasts don't talk about this enough. You have to constantly be rethinking your plans and changing or discarding them...in this business and I guess in any other. 

@Kelly Stevens Welcome to BP. Congrats on the project. Remodeling an 1940's house with old wiring and plumbing is a major endeavor. Been there done that. My project was on the east side on a street called Sanchez that connects to MLK. Good fun! Was that in the Austin metro? 

Ah the east side @Aaron Gordy  I love the houses over there! My reno was a 1953 cottage (looks more 1940s in style and format) close to Ben White at Manchaca. Yep, new plumbing, new wiring, modern kitchen ... but original footprint, wood siding and hardwoods — Give and take with the new and old. I think rehabbing houses in ways that stay true to the original will be core to my business DNA. I heard about a woman doing "historical flips" and I want to do some more research down that line!

Originally posted by @Kelly Stevens :

I didn't realize I had become a real estate investor when I bought the abandoned house across the street and renovated it with plans to rent — I really I just wanted to save the charming 1940s cottage. The project came with a mountain of reno knowledge to add to my handyman knowledge, and grew a love of GC'ing projects (and a lot of heartache and screaming, but that's for another episode).

After running the numbers, I realized it was better to move into the completed cottage (950 sq ft) and rent my previous primary residence (1300 sq ft) as a month-to-month furnished rental. That house is now in its second month of returning $1100/month net.

I'm ready to make real estate investing my full time job in 5 years, with my biggest interests in small multi-family (2-6 unit) buy & hold rentals in the Austin-San Antonio corridor plus Houston, and will probably feel the bug bite again to take on another BRR project as the second or third house (let a gal rest for a minute!) as it is my passion.

Diving in to learn everywhere I can. Already attended an Austin Real Estate InvestHER meeting (smart gals!), so happy to find BP (where do I even begin!??!), and welcome all the knowledge of this community!

I have a love/hate relationship with old houses. I love it when they are refurbished but hate them when they are not. I have a tendency to be OCD with the details. Cypress skirting begets cypress skirting and mahogany doors means you just have to go back with mahogany. I worked on a house in Nacogdoches that was built in 1878 once. It had a round porch with 3 stage crown. I took extra effort to kerf the crown to bend it 25 years ago. It was an 8 day job just for the trim. FF to today and a "contractor" redid the porch and just made the whole thing square as to make it a one day job. Now this once beautiful house is now a cookie cutter craftsman house.


 Sigh......


Did I mention I had a love/hate relationship with old houses?  

Do you have pics? Would love to see some. 

 

Ha @Mike Reynolds I hear you completely. I tend to approach them with the "if I were the craftsperson that built this place, what material would I use, but maybe what new way could I use it?" Though I did go back with all vintage door knobs, doors, rewired old light fixtures and custom built a few from scraps, and used the plank kitchen floor (unsalvageable due to rot) as the wall in the hallway. Will see what I can do about some pictures ... as a fellow OCD'er, you understand when I say she's not QUIIIIIITE ready fro her close up :)

Originally posted by @Kelly Stevens :

Ha @Mike Reynolds I hear you completely. I tend to approach them with the "if I were the craftsperson that built this place, what material would I use, but maybe what new way could I use it?" Though I did go back with all vintage door knobs, doors, rewired old light fixtures and custom built a few from scraps, and used the plank kitchen floor (unsalvageable due to rot) as the wall in the hallway. Will see what I can do about some pictures ... as a fellow OCD'er, you understand when I say she's not QUIIIIIITE ready fro her close up :)

All joking aside, I have a few sub contacts in that area that In have used that are reliable and efficient. If you ever need any just give me a pm. 

 

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