Just as the title says, any Lakeway / Four Points Real Estate Investors in here?
I'm considering a Lakeway purchase, but I'll have to visit their city planning offices first to ask several questions. One strange thing is that I couldn't find a search function for building permit research on a particular property I was curious about. However, I found it on Austin's site even though they are separate jurisdictions. Anyway, I hope you find what you like. I'm interested in what your Lakeway experience will be!
I personally have not done any deals in that area, but I have investigated the area for an associate of mine.
From what I have seen, if you intend to flip, there are definitely deals to be found. However your acquisition cost will be at least $100k with 1-3 times that going into the renovations. But with the high dollar investment comes the high dollar pay off, when I ran the numbers I was seeing profits of $70k+.
Buy and holds are tricky in and around Austin but with the right value add anything is possible.
I live in the 4 points area, and think it’s a tight market. You likely have to bank on off market deals or long term appreciation. Lakeway is tricky with the city limiting STR to I believe 25 permits total, so be sure to check the municipal laws.
I live in Four Points and invest in and around Austin. We completed one flip in Lakeway last year and have done a few others over the past few years. It's a finicky area. Nearly 100% of my leads and acquisitions are off market and I can say that I don't see many in Four Points. That said, I did run one in Steiner just last month, so they do exist.
If you have something specific you would like to discuss, or if your are just looking to network, please reach out.
@Jeremy Wilken I didn't realize you were interested in REI. We should get the families together and chat.
As someone else stated Lakeway is a giant PIA when it comes to permitting. Also mentioned earlier they are under Austin codes etc but they do have their own permitting office. The one good thing is you can submit everything electronically and not even visit the permit office until it is time to pick up your permit. Their website is https://www.lakeway-tx.gov/67/Building-Development.
It does take a long time to get a permit in Lakeway and there is no skating under the radar and not getting one because they literally drive around looking for projects that are not permitted. The four points area is not under that same permit office and is easier to deal with. Hopefully, that helps.
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