All Forum Posts by: Joel Allen

I was shocked to hear that values didn't drop that much during 2008.

I have been thinking that it might be reasonable to purchase a decent duplex in South Austin because it isn't like they can build more.  I look at the Kyle area and it just looks like it has to bubble because it has gone from nothing around the golf course I play at to this sea of homes.  The builders are bound to over do it at some point.  Would existing neighborhoods in fair areas be somewhat insulated from this?

Thanks a lot for the replies everyone! I appreciate the advice. I am very new to all of this and can't shake the fear of some sort of bubble.  But on the other hand, waiting 3-5 years while paying rent might be just as bad as a 15% correction!  It is a lot to process for a newbie.

Hello Everyone!

I was looking for input on the situation I am in.  I currently live in Austin where housing is pretty hot.  I rent a small apartment for 850 a month and don't mind the situation too much.  I also was previously roommates with a friend and that worked out well enough.

My question is, would there be any merit in looking for a moderately nice duplex to house hack in this market? Specifically, one that I could rent out the one side completely, and also rent a room to my friend on my side?  I could get 400 to 500 from the friend depending on the location (any more than that and he wouldn't move).   I also would need a home that a potential wife wouldn't object to living in.

I wouldn't be insisting on a grand slam of an investment, but something that could immediately lower my cost of living while building equity.  I would be interesting in holding the house for the long term as well.  I just wouldn't want the investment to be a total train wreck if the market were to bubble. It is my hope that the extra income from renting a room on my side might enable me to purchase in this market.

Is this feasible in Austin/surrounding areas or should I rent until the market levels out?

Thanks for any input!

Hello Everyone!

My name is Hawkins and just recently became interested in real estate investing.  I will be graduating from UT Austin next year with a bachelors in economics.  I am 30 years old (got the school bug a little late in life!), enjoy learning new things, and hope to live in Austin after college.

My recent interest in real estate investing is because I will be looking to purchase a home/multifamily home shortly after landing a job.  I am single, no kids, little dept, and a modest lifestyle.  With that in mind, I hope to save aggressively and begin real estate investing with my own home.  That is probably 2 years down the road but I am excited to learn/network as much as possible in the meantime.  

Hobbies include playing golf poorly, spending time with family, my faith, and volunteer work with the mentally disabled.

Looking forward to becoming part of the forum!