All Forum Posts by: Jacob Pereira

I think if you're serious about this, you should talk with a commercial broker, but do your homework first and bring documentation. Based on this post, it kind of sounds like you're not ready yet. Do some basic research and make sure to bring financial documents that show that you can comfortably swing a million dollars and six months of payments and I think you'll find you get better responses. 

I own duplexes in North Lamar that would fit your criteria, and fourplexes in Lakeside, near the Travis County Expo Center. I'd recommend looking in those areas. They all cashflow well, although the ones in Lakeside do VERY well. It's a bit of a rough neighborhood, though, so it really depends on what you're willing to live with.

@beau fannon, I'd also be interested in hearing the breakdown. @costin I., I'm out of town for the next few weeks, but I'll be back at the end of November. How about we grab a coffee at some point then?

It's been driving me nuts that for every little job that I'm too lazy or incompetent to do I have to pay someone else hundreds of dollars just to show up and take care of it, but I don't really have enough work to hire a permanent worker (16 units in Austin). An idea I came up with was to share a worker with a few other local investors, with each of us taking him one day a week to take care of whatever projects we need, and some sort of contingency if you need him more or less. Has anyone ever tried this before? And, if so, how did you like it and what are the things to watch out for? Also, is there anyone here in the Austin area who would be interested in trying something like this?

Sounds like a pretty great experience overall! I'm also an Austin multifamily fan, but I'm still holding onto my properties a bit longer. May I ask what made you decide to sell rather than hold?

We're definitely moving away from the crazy-hot market we've had the last 6 years or so, but I suspect Zillow's numbers are a bit off (their data in Austin is also less accurate because our sales prices aren't public information). I'm still steadily increasing rent, although admittedly from a low base.

You can buy a cheap truck for like 5k. Between the time, cost and effort of renting trucks or trailers it'll pay for itself in a few years. I was never a truck guy, but now I exclusively own trucks.

Plenty of fourplexes are for sale in the ghetto at about that same price. I own a few in 78724 and average rents are just a bit above $4000 a month.

I'm posting to throw my hat in this ring as well. I have 16 units in Austin (one of which is an str) and am looking to diversify. Puerto Rico has always appealed to me, and I'm planning on stopping by in a few months to get some eyes on.

Here's the deal, Devil: you're not really giving a lot of information for people to comment on. In fact, if you weren't a fellow marine I probably wouldn't bother. That said, the BRRRRRRR(etc.) strategy rarely fails, because it combines government subsidy with personal sacrifice, which tends to be a winning combination, unless you haven't really done your due diligence. If you post more info, I'd be happy to give thoughts on the deal.