All Forum Posts by: David Ivy

@Kevin K.

Without knowing more details about the property, it's hard to say anything very specific about the deck or landscaping.

If the deck has the potential to injure someone, you definitely need to handle it before putting it on the market regardless of whether you're leasing or selling. If you're leasing, there are regulations relating to railings and, for example, what kind of gap you can have between balusters (i.e., you don't want a child to be able to fit through). Getting a few bids for the work will clarify what you should do. It sounds like tearing it down isn't an option.

Is the landscaping similar to or consistent with that of the rest of the neighborhood or comparable homes? If so, I wouldn't worry too much about it, other than doing a general clean up as needed. However, in certain neighborhoods and price points, landscaping is extremely important. It's hard to know without having details about the property in question. On a single family home in the Austin area, tenants are usually responsible for yard and landscape maintenance, but that's totally negotiable.

If you're relocating far outside of the Austin area, you should consider a property manager. However, that depends a great deal on you and the time you have to commit to being a landlord. Even one property can be a part-time job, especially when it's time to lease or turn over tenants. A hybrid option is to use an agent only to lease the property and then manage it yourself while leased. However, to lease the property only, an agent will usually charge 100% of the first month's rent in the Austin area.

In general, you need to run the numbers on leasing vs. selling and determine which option is best for you in light of your short and long term plans and goals.

I'm happy to help with anything I can. Feel free to PM me.

@Taylor Patterson

There are a number of things to consider, many of which will depend on your particular lifestyle and goals. What do you have in mind when you say "little further out?" Below is a map of every 2+/2+ condo in the Austin-area on the market or sold within the last 90 days for $205k or under on the MLS:

Here is s a map of every 2+/2+ single family home in the Austin-area on the market or sold within the last 90 days for $205k or under on the MLS:

Notice that the single family homes and condos meeting your initial criteria are in basically the same areas. Either way you go, you won't be in or right near downtown. However, if you dropped down to 1 bed/1+ bath on your condo, you could get a little closer to downtown. That would rule out having a roommate, though.

I like single family homes over condos as rentals, in general, for a number of reasons. However, that doesn't mean there aren't advantages to condos. Check out this.

The May 2017 Central Texas Housing Market Report is out from the Austin Board of REALTORS®:

Here are the basic stats on single-family home sales for May 2017 for the city of Austin and the greater Austin area:

The Austin-area market continues to break records:

Affordability remains an issue:

Check out this report from Austin's KXAN News.

@Randy Stout

I have a fourplex in Killeen that has done well for me so far and would be happy to answer questions and share my experiences. I actually organized a small meetup of Austin residents that own Killeen multifamily a few months ago. I'll be setting up another meeting later this month. I'll be sure to include you on the email.

@Mike Bernardo

Williamson and Travis County property tax rates in 2016 were 0.436529 and 0.383800 respectively. The other major tax bills come from city and school district. If you buy a home within a utility or water district (e.g., Wells Branch in N. Austin), then your taxes will also be increased, sometimes quite a bit so.

Here are 2016 property tax rates for some cities in Travis and Williamson Counties:

Here are 2016 property tax rates for school districts in the area:

For permitting, you'll want to check the websites of each city you're exploring. Look here for Austin and, for example, here for Cedar Park. Austin is well-known for causing permitting headaches for builders and homeowners alike. See this recent Reddit post from not too long ago for the perspective of a few Austin homeowners. However, many small residential projects qualify under Austin's "express" permitting process, including the following:

• Replacing windows (size for size)
• Replacing exterior doors (size for size)
• Adding / removing siding
• Adding / removing brick
• Adding / removing insulation
• Repairing a roof to the extent of replacing decking boards
• Repairing foundation without increasing impervious cover
• Bathroom remodel (tub / shower conversions) & kitchen remodel
• -Only tub / shower / sink surround drywall can be removed
• -Walls cannot be relocated or removed
• -Plumbing fixtures cannot be relocated or added
• Interior non-structural exploratory
• Drywall repair only

I hope this helps!

According to U.S. Census...

25 fastest-growing large cities (U.S. Census/July 2015-July 2016)

1. Conroe, Texas: 82,286

2. Frisco, Texas: 163,656

3. McKinney, Texas: 172,298

4. Grenville, South Carolina: 67,453

5. Georgetown, Texas: 67,140

6. Bend City, Oregon: 91,122

7. Buckeye, Arizona: 64,629

8. Bonita Springs, Florida: 54,198

9. New Braunfels, Texas: 73,959

10. Murfreesboro, Tennessee: 131,947

11. Lehi, Utah: 61,130

12. Cedar Park, Texas: 68,918

13. Meridian, Idaho: 95,623

14. Ankeny, Iowa: 58,627

15. Fort Myers, Florida: 77,146

16. Pearland, Texas: 113,570

17. Huntersville, North Carolina: 54,839

18. Round Rock, Texas: 120,892

19. Irvine, California: 266,122

20. League City, Texas: 102,010

21. Pleasanton, California: 82,270

22. Gilroy, California: 55,069

23. Pflugerville, Texas: 59,245

24. South Jordan, Utah: 69,034

25. Castle Rock, Colorado: 57,666

Here's a link.

@Ryan Walker

I had a client who used TurnKey Vacation Rentals for his STR off of S. Congress. I believe he said they charge a flat 18% of bookings. I don't know much more about them.

The April 2017 Central Texas Housing Market Report is out from the Austin Board of REALTORS®:

Here are the basic stats on single-family homes sales for April 2017 for the city of Austin and the greater Austin area:

Strong housing development activity is fueling single-family sales growth across Central Texas:

@Morgan Heard

We use ProSource for pretty much anything we can. I highly recommend Randall Zeigler. He really takes the time to understand your project and budget. On my latest project, he actually convinced me to spend thousands less that I otherwise would have, and with good results.