All Forum Posts by: John Gonzalez

Thank you, I do hope all this plays out. I worry that Austin's prices have - even with the slowdown - gotten to the point that people are asking: "Why am I paying this much to live here? Traffic is a zoo. The summers are red hot. Austin's got California prices without the California weather, attractions and infrastructure".

I've been paying close attention to the Austin area and I don't mean to be a downer but some of this news is not well known:

Samsung not exactly setting Taylor Texas on fire:
https://www.reuters.com/technology/samsung-delays-taking-del...

Austin ranks as the 5th city with the highest number of people leaving:https://cbsaustin.com/news/local/austin-ranks-5th-among-us-c...

Ghost unfinished communities: https://www.reddit.com/r/Austin/comments/1gvr5ex/ghost_neigh...

Great points Caleb, thank you so much. 

1. In Austin, unless you bought with a large down payment around or earlier than 2014-2015, your rentals do not perform in the traditional sense and certainly do not obey the 1% rule. It is almost always an appreciation play. I was planning to be in for the long term, but Austin's huge crash has me on the ropes. So, no, my rentals are not performing.

2. Yes, I do want the money back for other things.

3. Thank you for the timeframe. I am not equipped to deal with this for all of 2025. So maybe I will try and sell the most painful one and not all of them?

Thanks again

I'm trying to logically, carefully map out my decision around whether or not to sell my rentals in Austin.

1. Austin is now the #1 market for real estate correction after being the steepest climb during COVID: https://www.reddit.com/r/Austin/comments/1bhrm8k/once_americ...

2. Companies are leaving Austin. Whatever math led them to move here, has now been reversed and my thinking is that they will have had high powered actuaries et al behind their decision to leave. <Whatever factors> led them to decide to leave, are going to be the same ones that prevent the appreciation or demand for my rentals in Austin, to stay at a healthy level.

https://www.mysanantonio.com/business/article/austin-loses-t...

https://finance.yahoo.com/news/meta-leaving-austin-office-gu...

3. Airlines are cutting routes and plans due to lack of demand in Austin: https://www.statesman.com/story/business/2024/09/17/american...

4. My rentals will thrive only with a return to the office. I believe WFH is a concept which was long overdue and whose time has come and I do accept my losses. Dell tried to enforce RTO pretty strongly but seems to have failed: https://finance.yahoo.com/news/nearly-half-dell-full-time-21...

Dell employees seem to have called their bluff and dug in their heels and won - they are - at least for now - WFH

There are other factors but above are the top 4. With this background, my questions are:

1. Will Austin real estate ever come back? Not to the highs that it had earlier reached in the bubble, but at least to the point that a new well-priced, high quality listing gets SOME interest (say 10 calls and 4 showings within a month) as opposed to being on the market for 80-100-120 days with no calls? If you think it will never come back, why not? If you think it will come back, why and when?

2. Do you think Austin real estate will come back when rates go down? Or has Austin lost it's charm and verve and energy to the point that even if rates come down, people are less likely to move to Austin or invest in this city?

3. If you are a *non-full priced* real estate agent in the Austin area and are interested in my business selling my multiple rentals in the next few days, please send me a message

Thank you

Hi there

Checking online, I'm finding the usual useful but noisy inputs about auction.com, realtybid.com etc. I haven't sold one via auction before.

I'm searching for a mentor in this area - I'd like to do a paid consultation to walk me through the transaction as it occurs, end to end. I'll be looking for help, hacks, dos, don'ts, referrals to trusted parties, etc.

Thank you

Hello,

I own a physical rental property. I want to convert this property into a mortgage Note.

What are the exact steps to do this?

Thank you

Thank you Mike. Facebook, Yes. REIA (in person), No. I will chase these down.

Thank you for reading this, I appreciate it.

I don't have prior seller financing experience. I want to sell my fully furnished, high-end downtown Austin rental via seller financing. I'm looking for a mentor - I am happy to pay a fee - who will show me the optimal path, help me avoid the mistakes / pitfalls, refer me to a good attorney, title company and get me to closing as reliably and safely as is possible

Property: 2800 sq feet, 4/3.5, 2 miles from Downtown Austin, high end finishes

Sale price: 1.6 million (negotiable)

Down payment: $320,000 (negotiable)

Rate I am offering: 5.5% (negotiable)

Please DM me for further details of the property. Ideally, I would be working with Buyers only.

Thanks again

I'm looking for a good, proven, responsive leasing agent for my property in Austin. I need the typical LTR checklist done: post MLS ad, vet applications, background check, income verification, generating lease, tracking deposits, etc.

I do *not* need property management - looking for the placement of a long term tenant only. I would like to pay the usual 60% of 1 month's rent as fee (negotiable)

Thanks

I am looking for a proven, experienced real estate attorney, to sue my lender and their mortgage servicing company for forcing me to pay over $40,000 in payments in 2023 alone, because they refused to rectify their own escrow error

I want to sue for:

1. Mental distress

2. Their refusal to address and resolve the issue

3. Them giving me the run around

4. Basic lack of accuracy in processing the transactions accurately

If you have experience in doing this, please contact me