All Forum Posts by: David Sandvig

I'm a big believer we should invest with a 5-10 year outlook.  I still think Austin is a great investment on a 5-10 year basis.  I'm pretty neutral on the local market outlook for the next year.  Mentally it's hard to buy into a dipping market, but I think that's where a lot of money is made longterm.  I'm also not super optimistic on rents increasing over the next year or two though, especially if we go into a recession.

Welcome to Austin Steven!  I know a few commercial brokers.  What exactly are you looking to do?  Multifamily, land, office space?  I’d be happy to grab a coffee and discuss it a little bit with you.

Congratulations!! If you ever need an agent in the Austin area, I’d be happy to help out!

Great post; you definitely sparked a lot of discussion!  I think of a personal home as an asset that feels like a liability. You don't feel that appreciation each month, but you definitely feel the PITI and upkeep every month.

Welcome to Central Texas, Cade!  I'm in the Austin area, but I'd love to grab a coffee in South Austin sometime!

If it's going to be owner occupied, I would look at TSAHC.  They have some good down payment assistance programs.  I'm not a lender, but I believe they've already hit the bond limit for 2023, but I think the non-bond assistance should still be available for qualified applicants.  I know a couple of lenders that are well versed in TSAHC offerings.

I've got a good one for you in Austin, but not in Akron!  Good luck with the search!

I do the same thing.  I usually rent my properties out at market value, and then raise rent to slightly less than market value (assuming rent goes up; I don't increase rent if the market hasn't changed).  It should be a good deal for them since it's cheaper than market value, and they don't have to deal with the stress of moving.  It's a good deal for me because I don't have to deal with the effort of turning over the unit or finding new tenants.

I don't negotiate.  There are quality tenants out there that are willing to pay market value and also deserve a decent place to live.  The difference between what I charge tenants and market value would cover the cost of vacancy.

Always happy to connect with other investors!  Good luck on y'all's investing journey!!

I'm most definitely not a lawyer, but my understanding was that the State of Texas had deemed the City's ordinance illegal. It seems to be a bit of a grey area. In December there was talk of changing the law to go after the host sites (e.g. Airbnb, VRBO, etc.) rather than the owners of the short term rentals. The goal seems to have a more realistically enforceable law similar to other places that have cracked down on STR's (like Los Angeles).

https://www.kxan.com/news/loca...

That obviously doesn't help you in the short term, but maybe it's not worth your time if the City is going to handle it in the next year or so. It looks like the proposed amendment would need to be submitted to city council before March 23. Alternatively, maybe foregoing the STR license and turning your property into a MTR might be more profitable and/or slightly more passive for you.