Newb in Austin, TX

[Bob Cantwell]

Hi, my name is Bob Cantwell, I am 50, have two teenage kids, work as an electrical engineer and am in the process of relocating from Dallas to Austin as part of a job change.

My wife and I have just sold some vacant land that was held as an investment and we are planning on purchasing SFR in SW Austin as a part of a 1031 exchange.

We are interested in a strategy of buying a good starter home in a great school district, then lease it, hopefully to a good long term tenant and hold the investment for steady generation of income and some appreciation. We are looking at this RE investment as being a component of our investment portfolio. As we gain more experience in RE, we may buy additional properties.

My first impressions of the Austin RE market is the inventory of available houses is small and when something is available it sells the day it is listed with multiple offers. I believe Austin is a wonderful city with excellent growth prospects due to the high quality companies, university and capitol.

My newb questions are:

1. How much time does it take to landlord a local house?
2. Are there any RE investment groups in Austin that allow newbies to join?
3. What are the steps for creating a solid passive income generating RE investment?

Thanks for all the great info on BP!

Bob