All Forum Posts by: Brendon K.

Neat! How did you get financing for the first triplex? Was it a good deal? Can you share any numbers?

Looking for prices, seems there aren't a lot out there. Anyone know a business that can help?

Just  a warning, house hacking doesn't work in most of Austin. The income/rent equation doesn't pan out. You have to go very far from town to get it to even balance out.

So i went to a meetup for the first time last week. Learned a lot, but at the end I talked to the guy putting it on. He wasn't really spammy throughout the conversation but I found out he has done a few partnerships for flipping to get people started. He seemed like he really knew his stuff, spoke the bigger pockets language (which I checked and it doesn't look like he's one of "us"). His investment company is here: 

http://www.homesforthewin.com/

He's said he has done over 30 flips in the last three years but I don't really know if I have a way to verify that.  There was another guy at the meetup who said that he's doing a flip with the meeting leader in San Antonio, an hour or two away from where I am in Austin. 

I asked him about his teamups and he said he can do them however I'm comfortable. I could find a property and he could pay a wholesaling fee. I could pay for the whole thing and we could split the profits and I could see how he does it directly.

It's *exceptionally* difficult to get into Austin flipping without someone helping you out. Too many variables here. I definitely don't want to get into a bad situation. Any advice?

--all of Austin

How IS San Antonio for investment? It has to be better than Austin?

Toss me on the list. 

I've been posting a lot lately, been trying to start out like you. I'm in IT myself and am making more than I could have in my previous state. I've found that buying a property in Austin that cash flows immediately is almost impossible and when you luck out and find one, a billion people have beat you to it already and guess what? They're paying cash and you don't have a chance. I also looked into multifamilies but they only seem worthwhile if you're paying cash as well because the cost of the mortgages puts your expenses over the limit. 

At low budget (and under 300k is low budget here), assume the MLS is worthless. Driving for dollars may work but the market is saturated regardless of which strategy you use. I'm now looking North of Austin, which may end up being a much longer drive to my NW Austin job but at least I'll be able to get started somehow. It sucks because I've been preapproved for financing for months and haven't been able to find one damn property that isn't either too expensive for what you would get back or ends up being too expensive due to bidding anyway.

Can't post in the Austin forum anymore, so I'll try this. I've found two REO-like groups online. Both have costs involved and since I'm just starting out I'm trying my best to avoid expenses. Where do you all go to network in the Austin greater area to network? If the costs are valid I can do it, just want some opinions to back it up.

@Andrew Frowiss, sent you a request