Best Area's to Purchase a Du/Tri/Quadplex near Austin, Texas
New to Real Estate · TX · Member since 2023 · 18 posts · 11 votes
Best Area's to Purchase a Du/Tri/Quadplex near Austin, Texas
Most Popular Reply
Wale LawalBusiness Member
Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votesOne of the most important steps in locating a successful investment property is analysing possible real estate markets. Developing regions within a one to two-hour drive from Georgetown, Texas, may be assessed using the following crucial steps:
1. Growth in the Economy and Jobs
2. Increase in Population
3. Development of Infrastructure
4. Trends in the Real Estate Market:
5. Analysis of the Rental Market:
6. Plans for Future Development:
7. Local insights and networking:
Utilise websites such as Realtor.com, Redfin, and Zillow to investigate past statistics, market trends, and real estate listings.
When you combine the data from these phases, you will have a thorough understanding of possible investment locations. Give top priority to regions that exhibit good growth indicators, have solid economic foundations, and are in line with your investment objectives. Always conduct extensive due investigation and think about consulting with local real estate professionals.
Good luck!
NETWORTH BUILDERS5236 Reviews
10 Replies
- Temple, TX · Member since 2018 · 307 posts · 215 votes2y
Quote from @Brady Tome:
Greetings all,
I am new to REI and actively searching for my first multi-family investment property, whether that would be a duplex or quadplex. I am open to either. I currently live outside of Austin, Texas in Georgetown, and would like to purchase something within a 1-2 hour radius of me. Is there a way to analyze the market of growing areas? I've begun to look at Killeen, Kyle, and Taylor areas. But am unsure how to know which would be the best to prioritize my search based on market analysis.What price point are you looking at? And what class of property are you looking for?
- New to Real Estate · TX · Member since 2023 · 18 posts · 11 votes2y
Quote from @Chris Allen:
Quote from @Brady Tome:
Greetings all,
I am new to REI and actively searching for my first multi-family investment property, whether that would be a duplex or quadplex. I am open to either. I currently live outside of Austin, Texas in Georgetown, and would like to purchase something within a 1-2 hour radius of me. Is there a way to analyze the market of growing areas? I've begun to look at Killeen, Kyle, and Taylor areas. But am unsure how to know which would be the best to prioritize my search based on market analysis.What price point are you looking at? And what class of property are you looking for?
550k & under. I'm not to familiar with the "class of property" care to shed some light on this?
- Temple, TX · Member since 2018 · 307 posts · 215 votes2y
Quote from @Brady Tome:
Quote from @Chris Allen:
Quote from @Brady Tome:
Greetings all,
I am new to REI and actively searching for my first multi-family investment property, whether that would be a duplex or quadplex. I am open to either. I currently live outside of Austin, Texas in Georgetown, and would like to purchase something within a 1-2 hour radius of me. Is there a way to analyze the market of growing areas? I've begun to look at Killeen, Kyle, and Taylor areas. But am unsure how to know which would be the best to prioritize my search based on market analysis.What price point are you looking at? And what class of property are you looking for?
550k & under. I'm not to familiar with the "class of property" care to shed some light on this?
So with a $550k budget, you have a pretty decent option (at least in my area in Killeen/Temple).
"Class" is basically "how nice" the property and/or neighborhood is. No hard fast lines, but think C class is more Section 8/low income housing and A is more New, luxury type housing. B is somewhere in the middle.
$550k can get you a lot in Temple and Killeen, there are several really nice new build duplexes in Temple/Belton, and plenty of duplexes and 4-plexes in Killeen. Hard thing is having them cash flow as LTR's. Killeen you have to be careful and would recommend checking out the area before you buy. - New to Real Estate · TX · Member since 2023 · 18 posts · 11 votes2y
Quote from @Chris Allen:
Quote from @Brady Tome:
Quote from @Chris Allen:
Quote from @Brady Tome:
Greetings all,
I am new to REI and actively searching for my first multi-family investment property, whether that would be a duplex or quadplex. I am open to either. I currently live outside of Austin, Texas in Georgetown, and would like to purchase something within a 1-2 hour radius of me. Is there a way to analyze the market of growing areas? I've begun to look at Killeen, Kyle, and Taylor areas. But am unsure how to know which would be the best to prioritize my search based on market analysis.What price point are you looking at? And what class of property are you looking for?
550k & under. I'm not to familiar with the "class of property" care to shed some light on this?
So with a $550k budget, you have a pretty decent option (at least in my area in Killeen/Temple).
"Class" is basically "how nice" the property and/or neighborhood is. No hard fast lines, but think C class is more Section 8/low income housing and A is more New, luxury type housing. B is somewhere in the middle.
$550k can get you a lot in Temple and Killeen, there are several really nice new build duplexes in Temple/Belton, and plenty of duplexes and 4-plexes in Killeen. Hard thing is having them cash flow as LTR's. Killeen you have to be careful and would recommend checking out the area before you buy.From the quadplexes I've seen most already have Long-term tenants in them & are cash-flowing. What do you mean by "have to be careful" what should be on the radar for that area?
- Temple, TX · Member since 2018 · 307 posts · 215 votes2yHow much do you plan to put down? What I've seen is borderline cash flow to negative cash flow. Or just a poor ROI.
Quote from @Brady Tome:
Quote from @Chris Allen:
Quote from @Brady Tome:
Quote from @Chris Allen:
Quote from @Brady Tome:
Greetings all,
I am new to REI and actively searching for my first multi-family investment property, whether that would be a duplex or quadplex. I am open to either. I currently live outside of Austin, Texas in Georgetown, and would like to purchase something within a 1-2 hour radius of me. Is there a way to analyze the market of growing areas? I've begun to look at Killeen, Kyle, and Taylor areas. But am unsure how to know which would be the best to prioritize my search based on market analysis.What price point are you looking at? And what class of property are you looking for?
550k & under. I'm not to familiar with the "class of property" care to shed some light on this?
So with a $550k budget, you have a pretty decent option (at least in my area in Killeen/Temple).
"Class" is basically "how nice" the property and/or neighborhood is. No hard fast lines, but think C class is more Section 8/low income housing and A is more New, luxury type housing. B is somewhere in the middle.
$550k can get you a lot in Temple and Killeen, there are several really nice new build duplexes in Temple/Belton, and plenty of duplexes and 4-plexes in Killeen. Hard thing is having them cash flow as LTR's. Killeen you have to be careful and would recommend checking out the area before you buy.From the quadplexes I've seen most already have Long-term tenants in them & are cash-flowing. What do you mean by "have to be careful" what should be on the radar for that area?
4 unit listed at $405k looks okay. All 3:2, similar property is listed for rent down the street for $950. If you put down 20%, after taxes and everything, you might be cashflowing a few hundred dollars, but that's only before expenses and repairs.
What I mean by careful is that the closer you get to Downtown and/or base, the rougher the neighborhoods get. South Killeen and closer to Heights is pretty nice. We could jump on a call I'd you want sometime. - New to Real Estate · TX · Member since 2023 · 18 posts · 11 votes2y
Quote from @Chris Allen:
How much do you plan to put down? What I've seen is borderline cash flow to negative cash flow. Or just a poor ROI.Quote from @Brady Tome:
Quote from @Chris Allen:
Quote from @Brady Tome:
Quote from @Chris Allen:
Quote from @Brady Tome:
Greetings all,
I am new to REI and actively searching for my first multi-family investment property, whether that would be a duplex or quadplex. I am open to either. I currently live outside of Austin, Texas in Georgetown, and would like to purchase something within a 1-2 hour radius of me. Is there a way to analyze the market of growing areas? I've begun to look at Killeen, Kyle, and Taylor areas. But am unsure how to know which would be the best to prioritize my search based on market analysis.What price point are you looking at? And what class of property are you looking for?
550k & under. I'm not to familiar with the "class of property" care to shed some light on this?
So with a $550k budget, you have a pretty decent option (at least in my area in Killeen/Temple).
"Class" is basically "how nice" the property and/or neighborhood is. No hard fast lines, but think C class is more Section 8/low income housing and A is more New, luxury type housing. B is somewhere in the middle.
$550k can get you a lot in Temple and Killeen, there are several really nice new build duplexes in Temple/Belton, and plenty of duplexes and 4-plexes in Killeen. Hard thing is having them cash flow as LTR's. Killeen you have to be careful and would recommend checking out the area before you buy.From the quadplexes I've seen most already have Long-term tenants in them & are cash-flowing. What do you mean by "have to be careful" what should be on the radar for that area?
4 unit listed at $405k looks okay. All 3:2, similar property is listed for rent down the street for $950. If you put down 20%, after taxes and everything, you might be cashflowing a few hundred dollars, but that's only before expenses and repairs.
What I mean by careful is that the closer you get to Downtown and/or base, the rougher the neighborhoods get. South Killeen and closer to Heights is pretty nice. We could jump on a call I'd you want sometime.Yeah, I plan on house hacking and using my VA Loan which is $0 down, and using the funds I have for closing costs ect. I'd love to hop on a call, I'll shoot you a message. Thanks Chris!
- 2yJack SzalasnyPro MemberWholesaler · Georgetown, TX · Member since 2014 · 15 posts · 3 votes
Brady, If you're using your VA, I recommend two things. Number 1, consider going the max amount of $766.550, the reason being your potential rent income will be that much higher. Number 2, whether or not you have a VA disability rating, check with the Texas Veterans Land Board VLG.texas.gov for information on your VA loan, you may get a below-market rate. Wishing you the best in your search.
- 2yWale LawalBusiness MemberReal Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
One of the most important steps in locating a successful investment property is analysing possible real estate markets. Developing regions within a one to two-hour drive from Georgetown, Texas, may be assessed using the following crucial steps:
1. Growth in the Economy and Jobs
2. Increase in Population
3. Development of Infrastructure
4. Trends in the Real Estate Market:
5. Analysis of the Rental Market:
6. Plans for Future Development:
7. Local insights and networking:
Utilise websites such as Realtor.com, Redfin, and Zillow to investigate past statistics, market trends, and real estate listings.
When you combine the data from these phases, you will have a thorough understanding of possible investment locations. Give top priority to regions that exhibit good growth indicators, have solid economic foundations, and are in line with your investment objectives. Always conduct extensive due investigation and think about consulting with local real estate professionals.Good luck!
NETWORTH BUILDERS5236 Reviews - 2yRyan KellyBusiness MemberReal Estate Broker · Austin, TX · Member since 2018 · 1k+ posts · 1k+ votes
@Brady Tome the awesome part of using a VA loan is not requiring a down payment to purchase the property. The downside is it makes it much harder to achieve long-term cash flow as you start with maximum debt on the property, so your monthly payments are larger. That's not as big an issue the longer you plan to live in the property, but just know it could be hard to cash flow the property the first several years after you move out. I agree with other posters that Killeen Temple offers some better yield on deals compared with the Austin metro due to better price points. I work in both markets and happy to discuss the pros and cons. Both areas are growing well.
Ryan Kelly Group - Keller Williams5112 Reviews
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