All Forum Posts by: Brooke Roeder

 Lockhart, Taylor, Hutto, Elgin, Manor - there are quite a few! I'll message you

Based on what you’ve previously posted there aren’t really grounds for a legal battle because they’ve already agreed to the terms of the deal which should be able to be enforced a closing of the sale of the flip. That’s my perspective based on years of flipping and working as a realtor but I’m not a lawyer so I would 100% recommend paying for an hour consultation with one. I think it will ease your worries quite a bit. Feel free to message me if you have more Q’s!

Hannah, don’t feel bad about holding them to the legal agreement they consented to. Consult a lawyer. Colin Newberry at Hay Legal is my guy and he’s great. If you intend to hold them to it and play your cards too early, they may abandon the job. But ultimately, they have not acted in good faith and you are not the bad guy here. Sounds like maybe they weren’t an ideal party to partner with. You can absorb it, learn and move on, or hold them to it. Make sure you recoup all funds at closing, when the flip closes, no matter what, and then don’t work with them again.

Is everyone on this thread using Asana? Anyone trialed monday instead?

Congrats Luke! I bought my first house in Austin around the age of 25, about 10 years ago. I house hacked a duplex and it was the best move I ever made. It kept my overhead down low enough that I could pursue other entrepreneurial businesses I had in the works, AND I was able to leverage that investment several times over before finally selling it a few years ago. It’s a good move! Especially when first starting out.

No cap on re-assessments for investment properties so the best you can do is protest your taxes every year. There are companies who will do it for you for a small percentage of what they're able to save you in property taxes.

@Turgut Oz The furnished 30 day minimum rental model can earn higher monthly revenue while circumventing the STR restrictions in Austin. You advertise on Airbnb and it's furnished/all bills paid, but it operates more like a long term rental, with people renting from 1-6 months, typically.

There are still good deals out there, but you definitely have to be long sighted, in Austin proper. Most deals require a big down payment to cash flow right away. There are creative options like month to month furnished rentals that can improve cash flow if done right. There are also a lot of satellite towns to Austin that have better cash flow out the gate and good appreciation potential in future years. 

I highly recommend Champions School of Real Estate's online program. As others have suggest, do it before you move so you're ready to hit the ground running. If you're throwing a dart at a map, I'd aim for Dallas. Real estate is booming up there but it's more affordable than Austin. 

There are some great books on BRRRR. I'd be happy to chat with you about it. But it's worth saying that BRRRR is pretty difficult to accomplish in the Austin market. I've gotten lucky a few times with off market properties that I've located through connections or mailers. It's not impossible but you'll have better luck in surrounding satellite towns.