Hey everyone! Wanted to provide a quick update since my last post. We’ve now spoken with three lenders and three real estate agents, all of whom have been fantastic! We’ve been prequalified for up to $750K, with options ranging from single-family homes to multifamily properties (duplexes to quadplexes). However, our ideal purchase price is between $300K–$450K.

Our current buy box is North Austin and surrounding areas, particularly Round Rock, Pflugerville, and the northwest/northeast Austin areas. Ideally, we’re looking for a minimum of a duplex with 2 bed/2 bath units on each side, private backyards, and a Class A or B property. We’re also prioritizing desirable, up-and-coming neighborhoods where people genuinely want to live, ideally with relatively lower property taxes and strong long-term rental demand.

With the current buyer-friendly market, we’re hoping to negotiate 15–20% below asking price. We’re not afraid of renovations or putting in sweat equity, but our thinking is, why take on a major project if we can negotiate a great deal on a newer, turnkey property? Especially if market conditions continue shifting in buyers’ favor through the end of the year.

We’re locked and loaded, financially ready, and excited to make our first purchase! For those investing in the Austin market, what are your thoughts on our buy box and strategy? Are we being realistic with our expectations? What would you recommend as our next steps?

Would love to hear everyone’s experiences, advice, or even connect with other local investors!