All Forum Posts by: Carrie Hiner

You're on the right track. You're motivated and have goals. I'm conservative and think it's best to start small. The Austin market is tough - limited inventory, a ton of interest, cash etc. Most duplex's sell with multiple offers, often with cash and conventional loans. It's tough to get a seller to accept an FHA loan when they have offers backed with more money. And you're exposing yourself to a ton of risk: two kitchens, four bathrooms. If all you have is 3.5% down... buy a small home, get a roommate, fix it up. You will gain equity.

It's getting hard to house hack with Austin area multifamily. The sales price of Multi-family properties is largely dictated by potential market rate rents. If both sides are not rented at full market rate rents, the numbers often don't work out, especially if you are using FHA and paying mortgage insurance. I recommend buying a value-add single family home. Something in the $200k range that needs updating. Something you can improve and build equity.

Wishing you a speedy recovery on your up coming surgeries.  Maybe buy a duplex and live in half? 

Austin Texas is a great place for short term rentals because our festivals, conferences and conventions draw so many people. The downside is, the City of Austin heavily regulates them. Neighborhoods are zoned by census track and a limited number of licenses are granted. They do not transfer at time of sale, so you can not buy someone's STR license. https://www.austintexas.gov/str

Anthony - UT is a great school and it is located in a hot neighborhood adjoining to downtown Austin.  It's a great idea to use property ownership for purposes of residency and in-state tuition.  With our sales prices rising faster then rents, I'm not sure if you will be able to achieve rent-free or positive cash flow.  It would be much more realistic to get a house or duplex, get roommates and have some of your mortgage covered so that your housing costs are less then market rate.  And of course, cherry on top is capital appreciation.  Good luck at school.  Let me know if you want to meet and discuss Austin Real Estate.  

Updated units, fully leased, turn key.  10 miles to downtown Austin.  

http://matrix.abor.com/Matrix/Public/Portal.aspx?k...

(note lease amounts in link above are old)  

Updated duplex near downtown Austin! Fully leased and turn key. NOT LISTED ON MLS!

Unit A http://matrix.abor.com/DE.asp?k=1272568XFTBZ&p=DE-76012211-826

Unit B http://matrix.abor.com/DE.asp?k=1272568XFTBZ&p=DE-76012213-791

Unit A 1495.00 lease thru April 30, 2018

Unit B 1454.96 lease thru April 30, 2018

Each bedroom and if multiple bedrooms per hallway, in hallway.  No requirement on Carbon Monoxide detectors.  

May I ask, where is the property? What part of town? 

Thanks Jordan! My first house was 2648 Hayes St Ne.  @Jordan Moorhead