Is it still worth it to buy in Austin, Texas

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Is it still worth it to buy in Austin, Texas

Lilach A.
Rental Property Investor · Member since 2021 · 30 posts · 11 votes

Is it still worth to buy in Austin Texas or I missed the boat ,

Any tips or recommendations? TIA

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Jacob Pereira
Real Estate Agent · Austin, TX · Member since 2014 · 636 posts · 486 votes
5y

Nope, just leave the deals to the rest of us.

Kidding, of course. We're still a fairly cheap market. It's really hard to give tips without knowing the specifics of your situation, so I'll just give some generic ones to start:

Figure out what value you can/are willing to add. Real estate investing is a much more active form of investing than stocks, but if you can figure out your personal advantages, it can also be more lucrative.

Be aggressive, persistent, and active. Yes, we have properties that get 20-96 offers (it's real, look it up), but that's generally because the agent undervalued the property when listing. Look at properties that have been on the market for a long time and offer a price that reflects its true value. You and your agent might experience some rejection, but you might also hit a goldmine. As a side note, I had one of my clients bid $445 on a property listed at $520 and it was accepted. Even better, we talked them down another $5k during option.

Be willing to look on the outskirts. There are still properties that are cashflow positive or close to it in the Austin suburbs of Round Rock, Del Valle, Cedar Park, etc.

People told me I missed the boat when I bought my first duplex in 2013-14. I think I can confidently say now that they were wrong. Nobody knows for certain what the future will bring, but I can tell you that for now the Austin fundamentals appear to be strong.

Good luck!

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  • Timothy Douglas
    Realtor · Austin, TX · Member since 2018 · 154 posts · 82 votes
    5y
    Originally posted by @Lilach A.:

    Is it still worth to buy in Austin Texas or I missed the boat ,

    Any tips or recommendations? TIA

    I absolutely think that it is still a great idea to buy in Austin. The city has a lot going for it and will continue to appreciate IMO. Also, if you buy right, you can cash flow too.

    1Reply
  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    5y

    @Lilach A. depends on your goals. If appreciation is one of them then this is probably a good place to be!

    [email protected]512-888-9122
    The Moorhead Team5140 Reviews
    WebsiteView Page
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  • Jacob Pereira
    Real Estate Agent · Austin, TX · Member since 2014 · 636 posts · 486 votes
    5y

    Nope, just leave the deals to the rest of us.

    Kidding, of course. We're still a fairly cheap market. It's really hard to give tips without knowing the specifics of your situation, so I'll just give some generic ones to start:

    Figure out what value you can/are willing to add. Real estate investing is a much more active form of investing than stocks, but if you can figure out your personal advantages, it can also be more lucrative.

    Be aggressive, persistent, and active. Yes, we have properties that get 20-96 offers (it's real, look it up), but that's generally because the agent undervalued the property when listing. Look at properties that have been on the market for a long time and offer a price that reflects its true value. You and your agent might experience some rejection, but you might also hit a goldmine. As a side note, I had one of my clients bid $445 on a property listed at $520 and it was accepted. Even better, we talked them down another $5k during option.

    Be willing to look on the outskirts. There are still properties that are cashflow positive or close to it in the Austin suburbs of Round Rock, Del Valle, Cedar Park, etc.

    People told me I missed the boat when I bought my first duplex in 2013-14. I think I can confidently say now that they were wrong. Nobody knows for certain what the future will bring, but I can tell you that for now the Austin fundamentals appear to be strong.

    Good luck!

    4Reply
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