All Forum Posts by: Bryan Noth

Welcome to BiggerPockets @Callum Prentice!  Both the forums and podcasts have a wealth of information, dive in!

Welcome to the BiggerPockets forums and to the real estate industry @Shaun Fogleman!

@Joshua Jones that seems awfully high.  I am not familiar with your specific market for labor and construction costs, but $61,400 for a single bathroom better be on killer bathroom by the time they finish.  

@Frank Bonzai much of the market is driven by homebuyers as @Ryan Kelly mentioned.  Housing Inventory in Austin is low and the population continues to increase.  That puts the law of supply and demand into overdrive.  Those who can afford to pay more are seeing greater success in winning offers right now, but that is not the only option.  

Thank you for the mention @Lucia Rushton!  And I think your insight carries a lot of value.  Some-town, USA might be the best investment but if you don't want to move or invest there it does not much matter.  

Would love to connect @Stephen James!

@Rilwan Lawal very similar range to @Jordan Moorhead with $180-$220 for the area from quotes I have seen

Job postings and cryptic tweets from Elon Musk are official.  Grounds site selection is not.

https://www.statesman.com/stor...

https://communityimpact.com/au...

@Alex Jones curious to hear about your flip in Rochester if you would care to share.  

The acquisition model for flippers varies greatly. Some investors utilize wholesalers to source deals, some do their own direct marketing, others scour the MLS for potentially missed opportunities. I have utilized both off-market and MLS listings for flips. The light rehab that requires minor work is a rather tight margin model in the Austin market presently. The majority of opportunity is where you can create value or tackle an issue to realize the maximum ARV. The bread and butter for my REI portfolio is buy and hold, but when a good flip/rehab opportunity comes across it's hard to pass up.

There are many areas that investors target for acquisitions.  One possibility would be 30+ year old homes.  Likely the property will need updating but if it's in a growing area that could have potential.  Another would be distressed or in need of repair properties, oftentimes owners or other investors do not want to take on that headache.  

@Michael Serrato that is a fair question, I will clarify.  

The observable price trends show recently sold homes.  This comparable sales data is indicative of the market activity when those houses went under contract.  This could be several weeks outdated, usually 2 weeks for cash purchases, and 30+ days for financed purchases.  It may not accurately show just how rapidly the prices have escalated over the last 30 or so days with pending statuses.  And you are at the mercy of each individual seller and agent if they have given permission to share those pending contract prices.  

Off-market data is notoriously hard to get accurate information on, especially with Texas being a non-disclosure state.  

@Shannon Robnett you can access the full report the article references here:

https://milkeninstitute.org/si...