All Forum Posts by: Jarrod Covey

I haven't taken the full plunge, just passively at this point. Nonetheless, I can share the story of one of my clients. 

When we first met she was underwriting for a large national retailer. She decided to update her home in south Austin and soon after received an offer to buy it putting her in some nice profit. She flipped two more houses before taking the plunge and is now a full-time real estate agent/rehabber. 

With so many avenues for income in real estate, it's just about staying active in the market in whatever way makes some income.

@Joe Crupi - it was purchased below market, rehabbed, appraised, and re-financed.

It is tough to find and execute the sale of undervalued houses because of how competitive the austin market is

Good stuff @Shawn Muncy - thanks for sharing. Would be interested to hear what area of town this was in 

A client of mine has found success putting her duplex on Airbnb for a minimum of 30 days allowing her to negate the required STR permit. She's rented out to corporate transplants over the past two years and in a 7 month period she made a years worth of rent.

Pretty neat strategy not many investors have experience in. 

@Joe Crupi - I've fine tuned my focus for buy & holds in that area in anticipation. Most recently purchased a buy & hold just east of the Domain area and plan on expanding on buy & holds in that area. 

Inspections can be very expensive and they don't actually address the issue. If I were you, I would call out different trades - i.e. plumber, electrician etc - relative to the area of the house you are concerned about. 

Go direct to the owner, more parties involved in a transaction creates more mouths to feed pushing your potential buy price up. 

Hi @Eric Ippolito - they do exist within your price range. If you were open to leveraging your money through a private lending loan, a lot of great options here in Austin. 

@Nina Hayden that's too bad, not being able to STR really hurts!

Time spent in the market will open up new contacts and eventually a thriving network. Finesse the mailers, put some bandit signs out, and shake some hands at local meetups and you should be good in due time

I really like the SOCO area for a buy & hold. The location allow you to execute different renting options allowing you to adjust to the market. Whether it be targeting corporate transplants by putting it on AirBNB for a minimum of 30 days - STR permits not required - or the classic year long contracts.

@Fred Sebren months of inventory in Austin has been floating in the low to mid 2’s all year only occasionally hitting over 3 last year. This shows a low supply and lends itself to a sellers market.