[Austin] Finding Buy & Hodl Single Family

[Austin] Finding Buy & Hodl Single Family

Member since 2020 · 5 posts · 2 votes

Hi all,

New to this forum and to RE investing. I am interested in investing in Austin. Having a hard time finding a Single Family home in areas relatively close to downtown(East Austin, South Congress, etc). I am planning on living at the home and potentially rent a couple of the rooms that I'm not using. I don't care about cash flow, mainly about appreciation over the very long term, and finding a relatively urban place with businesses close by.

I browse listings in Zillow, Redfin, etc frequently but the inventory is so low that it feels impossible to find a home. What are some of the less conventional techniques to source deals in very hot markets like Austin? Not sure if this will help in any way but my strengths are in quantitative analysis. I am a developer and also have a successful side hustle in algorithmic trading(bot that trades stocks for me).

Thanks, any help is appreciated.

Martin

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Lender · Hutto, TX · Member since 2017 · 95 posts · 60 votes
5y

I'm in Georgetown. Your best bet is hiring a local Realtor to help you. The market is simply too hot for you to move quickly enough on your own.

if you've got the risk appetite, you might look at East Austin in the areas that are developing and buy a home you can fix and then stay in. That will allow you to keep some equity on the bone. Otherwise, you're enriching someone else and your equity upside may be quite limited. 

Reach out to Diego Corso. Tell him I sent you.

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  • Dan BurstainBusiness Member
    Real Estate Agent · Austin, TX · Member since 2014 · 360 posts · 331 votes
    5y

    There are two options.  Buy new where there are still plenty of brand new homes 20 minutes from downtown under $300K.  If you are looking in the highest appreciating areas, you have to think what the home will be worth in 6 months and bid around that point.  

    Dan Burstain, Investment Realtor51 Review
  • Member since 2020 · 5 posts · 2 votes
    5y

    I don't mind spending more money(500-600+) to be in a more urban area. I'm thinking my best shot is getting some off-market property but I'm still figuring out how to do that. Specially some of the more centric up and coming neighborhoods are very short in inventory. I understand other areas of Austin are also appreciating quickly but it's just not what I'm looking for. 20 minutes in any direction as congestion gets worse is going to be impossible to get to downtown during peak hours as Austin becomes more populous. 

  • Lender · Hutto, TX · Member since 2017 · 95 posts · 60 votes
    5y

    I'm in Georgetown. Your best bet is hiring a local Realtor to help you. The market is simply too hot for you to move quickly enough on your own.

    if you've got the risk appetite, you might look at East Austin in the areas that are developing and buy a home you can fix and then stay in. That will allow you to keep some equity on the bone. Otherwise, you're enriching someone else and your equity upside may be quite limited. 

    Reach out to Diego Corso. Tell him I sent you.

  • Dan BurstainBusiness Member
    Real Estate Agent · Austin, TX · Member since 2014 · 360 posts · 331 votes
    5y

    Another option is to buy a lot or house to scrape and build the house you want.

    Dan Burstain, Investment Realtor51 Review
  • Ronald RohdePro Member
    Attorney · Dallas, TX · Member since 2016 · 5k+ posts · 2k+ votes
    5y

    I think everyone is having a hard time buying in Austin, you're not alone!

  • Ryan KellyBusiness Member
    Real Estate Broker · Austin, TX · Member since 2018 · 1k+ posts · 1k+ votes
    5y

    @Martin Alonso You won't have any better luck "off market" as there isn't much of an off market in Austin and it wouldn't provide a discount either. The market is simply too hot and inventory is low. If you want something livable, your best options will still be on the MLS. I recommend interviewing local Realtors who know the market well and can give you the best options to win a deal. Welcome to Austin!

    Ryan Kelly Group - Keller Williams5109 Reviews
  • Real Estate Broker · Austin, TX · Member since 2012 · 1k+ posts · 1k+ votes
    5y

    @Martin Alonso I just sold a house that would have been perfect. I am in the process of recapitalizing and doing 1031. Mls is the way to go. 

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