All Forum Posts by: Jacob Ramsey

Currently have a fairly solid job but probably only a 50% chance I'll want to stay in Austin more than 2-3 years.

Renting currently at ~1k a month. I really want to buy a multi-family to house hack, but currently thinking it probably makes sense to wait a year to have a better idea of long term plans. I have a VA loan that I could use, and have ~100k in stocks that are easily liquid.

Then again if I could find something that made sense even with property management then maybe that isn't a problem.

I'm looking to buy one in the semi-near future.  It seems like prices are coming down and properties are staying on the market longer.  Do you think it makes sense to wait a year?

Given that I have to live somewhere, and that a 15 year mortgage on a condo would be about the same as I'm paying now for rent... would it not make sense to buy one without the VA loan just to build equity? I realize it wouldn't be an investment property like a fourplex would be.

Right now I'm looking at several options for our first purchase. I like the idea of a multi-family property, but I'm not sure it makes sense given the location and uncertainty of how long we will be in Austin. I have access to a VA loan, and we both have sterling credit and plenty of money set aside for a down payment.

I work near 183 and 45, and my girlfriend goes to school at UT (1 more year) after which she has to work for 2 years as part of her scholarship.   So we will be in Austin for at least 3 more years, but are not sure how much longer after that.

I would like to get something somewhat close to my work so that I could bike daily (it doesn't have to be that close... I bike 16 miles from Mueller without too much problem), as it would save having to buy a car for her when she graduates.    

I'm tempted to just buy a condo as there are several near Jollyville / Mopac that are under $200k that would be less / month then we are paying now for rent.  However I really like the idea of house hacking to build wealth... I'm just not sure it makes sense right now.  It seems like there are plenty of multi-family properties in South Austin, but the commute is un-appealing.  Properties near where I work are extremely expensive and there seems to be a shortage of them.

Any advice?

I'm about a year and a half out from considering a 2/3/4 purchase.  Really hope the market cools off a bit first.