Do i invest in Austin?
Hi, I'm currently renting in Austin. I have access to some funds to provide a good down payment for an investment property. But still debating whether it makes sense to invest here. In 4-5 years I plan to move overseas. However, i am considering whether to have a property in Austin, maybe live it in (or not) until I leave, rent it out while I am away, and I get the passive income. I also want to leave the property as inheritance to my child, or even resell it during retirement if I need the funds. I am an older worker who will be facing retirement in about 10 years or so. Austin is a nice city and I see potential for more growth.
My gut is to get a small apartment downtown, but the HOA fees and taxes may be a killer.Not sure if the rental income will be enough to cover my mortgage. I've also looked at East Austin, which is growing a lot. I'm not interested in a large house because of maintenance. In essence, I have more questions than answers.
Any experiences out there or tips to help me decide?
Thanks