Hi, I am looking at two possible residences in the Greater Austin Area. First, solely for rental income (best rental yield) as first priority and capital appreciation as second priority. (Round Rock, Circle C, Campus?). Second, a place which may be my possible home in the next decade or so, thus should be in a desirable neighbourhood (Northshore, Rosedale, Hyde Park etc) with solid capital appreciation and decent rental yield (in interim before it's my home). Advise, suggestions?
@Cheng Chan I am curious to hear the answer on this one too.
Anyone have any good ideas or advice?
Best rental yield is not by city- search criteria should be:
1. PROPERTY TAX COST IN AREA
2. HOA COST- PRFER NO HOA, PREFER ETJ AREA
3. AGE OF HOME (ASSUMED REPAIR COSTS ON OLDER HOMES)
4. AVG AREA LEASE RATES/SQFT/BEDROOMS
5. AVE TURNOVER OF PROPERTIES IN THE AREA- CAN BE CALCULATED VIA MLS DATA
Personal home- none of your desired areas have good rental yields vs today's purchase price/taxes, etc..
If you want to live close to the city you are going to pay alot for the house and taxes. It will not make a good rental unless you put a lot of money down.
I can suggest some other areas with a solid cash flow per month.
Msg me please if you are interested in talking.
Danny Webber, MBA, Broker