Investing outside the Austin MSA
My wife and I are getting back into property investment. We did a flip in Round Rock in 2018, and although we ended up losing money, we learned so much from it. We've recouped our losses and are taking our experiences and lessons learned and getting back into the game. Our goal is in long term rentals. Unfortunately the prices in the Austin MSA make this very difficult to get into and limit options for cash flowing properties. We have recently started to look outside the area in places like Burnet, Marble Falls, etc. These areas seem to have a mix of A/B/C property types, and have seen appreciation recently due to the massive growth of Austin and the surrounding areas. I'm curious if others are investing in these more rural communities and what luck they've been having.
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Sounds good, I would just be very cautious of any high cash flow numbers that you see on Class C and D properties in Killeen. It may not play out like that in reality if you have evictions, damage, etc. Solid property management is super important up there, I recommend Gold Medal Property Management for Killeen/Temple/etc. They will steer you to realistic expectations and neighborhoods that will work.