Austin?
Any Austin based investors out there? Looking to get a little more insight from someone with boots on the ground. Thank you.
Most Popular Reply
I live in the Austin, Texas area (the northern suburb of Leander) 7 generations Texan (family in the Austin area since the 1800s)
Austin is good for appreciation, cash flow, not so much. (Property taxes)
Bought my residential home for $144,900 in 2009 and now it's worth $245,000 in 2019. <Pay $6,000 on the taxes>
My uncle really cleaned up back in the day when he was buying properties at the Travis County Courthouse in Austin (back when nobody was doing this) for $30 to $50K in the 1980s and today those houses are worth over $500K.
Lots of competition from apartments as well.
I invest out of state as I want higher cash flow more than greater appreciation.
Why spend tons of money on one house in the Austin area, when you can buy 5 in other areas for less money, more cash flow, and a good balance of appreciation.