Howdy from Los Angeles and Austin Tx.

[Koby Kramer]

Howdy, my name is Koby Kramer and I am looking to learn more about real estate investing. I currently live in work in Los Angeles but consider Austin to be home. I own one place in Austin that I work out of when I'm home but I bought it for my Grandparents and mother to live in. Given the pandemic and my ability to work remotely, I'm currently looking at relocating from Beverly Hills to Austin but recently hit a roadblock with the lending. Your primary residence cannot be with 100 miles of the second residence so figured now is the time to post and ask what BP knowledge people have. I'd like to move to Austin and purchase a primary residence that I BRRRR and move back to Los Angeles when the virus is done with. A pleasure to meet y'all!

[Ryan Kelly]

@Koby Kramer If you are planning to BRRRR, you likely won't use traditional lending on the purchase. You would be better off using a hard money loan or private money, then complete your renovations, lease the property, then refinance into a traditional loan. You aren't buying it as a vacation home, or second home, which the traditional lender is assuming. I hope this makes sense. If you want any info on the Austin market, reach out anytime.