Austin, TX · Member since 2018 · 13 posts · 4 votes
Hello, I’m new on BP and new to the Austin area. I was really hoping to get a better feel for the market down here and hear from some others in this area.
I am not delusional to the fact that this is an extremely hot and competitive market, and not getting much easier with the sheer amount of people moving to Austin everyday.
I was wondering how viable it is trying to compete in the Austin market, specifically with the goal of buying and holding small multi-family homes?
I am also interested in knowing what the market may be like in surrounding cities such as Round Rock or Pflugerville?
Investor · Austin, TX · Member since 2016 · 29 posts · 19 votes
8y
It's extremely competitive especially if you're looking to hold properties. Good luck on finding one you can cash flow. My suggestion would be to look further south to San Antonio. San Antonio is a much better buy/hold market as real estate is much cheaper. The area between Austin and San Antonio is prime for appreciation over the coming years.
We flip and develop new in Austin primarily because of the high price points.
Austin, TX · Member since 2018 · 13 posts · 4 votes
8y
Yeah that seems to be the general consensus amongst those I’ve talked to. Not too surprising, though still disappointing.
I don’t know a whole lot about the SA area, but hear of other investors in Austin focusing there. Another area that would make sense for me is the DFW metroplex, with me having lived there for 6 years and knowing the area. However the market isn’t much less competitive there either..
Flipper/Rehabber · Fayetteville, AR · Member since 2016 · 130 posts · 62 votes
8y
@Shawn Jaffee The home prices in many of the cities surrounding Austin tend to be a lot more favorable for beginning investment purposes than Austin itself. I'm currently in San Marcos, and am in the process of expanding West, South, and Northwest from there.