Hi All. I'm new to Austin and am looking for the up and coming areas in which to invest.
What areas do people avoid now and have potential to grow in this growing city?
I'd prefer multi-family homes or small multi-unit apartment buildings.
And if there are folks out there who are looking for the same, I'd love to connect and possibly partner.
Take a look at Franklin Park, Colony Loop/Colony Park/Expo center, Manor, SoCo south of 71 and the immediate area.
Thank you, Kris!
Check out Montopolis neighborhood, or Govalle/Springdale if you're flipping. Depends on your strategy though. There are still some decent buy and hold pockets near Lamar and Rundberg or off of the North 183 corridor.
Thanks, Jim and Lexi!
@Patrick DiDomenico I would also checkout 78758. That zipcode is a bit awkward since properties in the Domain and Rundberg are both part of that zipcode. Domain being the "next downtown" and Rundberg being one of the places in Austin with the most crime.
I wholesale properties and can tell you that all of the areas you guys have mentioned are really good. It takes some experience and an investor's eye to see the potential in an area before the entire market realizes it. Montopolis and South East Austin is really solid. The 183 development is bringing a lot of attraction. We sold a deal for $155k in the area to a client that did about $65k in work and was able to sell it for $297k after 5 days on the market.
Franklin Park is great. Roy Kizer/Jimmy Clay golf courses are actually really nice and I think that community has some solid potential.
North is another really solid area. You're right Peter about 78758. We do a looot of work over there. The Domain is becoming its own city. A bunch of younger adults are renting more over there and I think will want to start buying in the area in the coming years.
Great information, thanks for the topic. @Patrick DiDomenico
@Patrick DiDomenico , I agree with @Kris Wong to check out Manor. Tons of businesses have moved in over the last few years. Basically, Manor has exploded since Walmart built right on 290. Three new schools built within the last year or so. Tons of new neighborhoods. There is also one of the largest developments in the Austin area, Wildhorse, which is a home/multiunit/commercial/parks/school development running along FM973 from 290 to 130. It's technically Austin, but Manor ISD and will impact Manor growth dramitcally.
Side note, do you happen to have family in Fort Wayne, IN? Typically wouldn't bother asking, but that's a pretty unique last name you've got.
Hey @Patrick DiDomenico , a very similar question was asked in a recent forum titled “Austin Vs Suburbs (RR, Leander, Cedar Park, Pflugerville)”. I definitely recommend you read through it.
As far as specific areas go there are some great suggestions on this tread. The Domain area, Leander for the schools + being in the direct path of progress, and many more mentioned here are worth considering. Best of luck and welcome!
Hi all, curious what folks think about Bastrop (city or county) in the context of this convo?