All Forum Posts by: Karan Jhavar

It is absolutely a huge tech center for tier 2 companies. Most Tier 1 companies have satellite offices in Austin but a lot of the diverse tech talent yearns to work at HQ to grow their career. 

Most such no-named companies are moving to Austin. Companies which probably cannot pay top dollars for talent. So talent would never move to Austin. 

Hi,

My property is in CA and my tenant dropped a something heavy on the refrigerator floor which seems to have a 1 cent big crack on it (picture below). The refrigerator was brand new.

Questions - 

If the refrigerator is working fine, are the tenants liable to fix the crack?

How much would it be to fix a crack of this size?

Appreciate your response. 

Thanks @Collin Bryston Adams I will finance it with 25% down. I do agree is is terrible COC deal. Rents for 2 bd 2 br do not support more than $1200/apartment in much nicer apartment complexes so I think between 1100-1200 is fair rent.

So question in front of me is that is this a decent deal for North Austin area?

@Collin Bryston Adams apologies. Offered for 615K.

Dear BP Members,

A 4-plex deal came across and I would like some suggestions if this is fair deal given the crazy market in Austin.

Specifics below -

1. 4-plex each unit 2 bed 2 bath. 
2. Built in 1990s
3. Area - North Austin (RR, etc)
4. Offer price - $615K
5. Rent Roll - $4650 per month
6. HOA $265 per month
7. Any major expense (roof, foundation, AC) - none

Thoughts?

@Jordan Moorhead Thanks! That is a great point. It is just that appraisal will take time and option period would be over by then. 

@Bryan Noth Thanks for your response! It is a single level home actually. My worry is that ame house in precoiv era would have sold for 230-240K. If I assign 10% appreciation due to interest rate and 5-10% appreciation due to just Austin being super hot because of migration then 285K is very close. Still since I am not a local hence asking for feedback.

Hi BP Community,

I would appreciate some feedback about a recent off market opportunity I came across in Austin where the market is on fire. I understand that +ve cash flow is going to be tough but my goal is to get a decent property and keep for long term (bank on Austin's appreciation potential).

Will I be overpaying if I offered $285K?

Specs -

• 1500 sq ft size/ 6500 sq ft lot
• Built 1999
• House is great condition with no known issues yet
• This house is in south creek area of Round Rock (RR)
• Offered for $285K
• Rent (expected) $1600

Thanks

Hi @Nicholas Aiola are there any tax advantages by moving the property to an LLC? Can I make an out of state LLC which also owns my in state properties? Thanks

I purchased a condo as primary residence, converted it into rental and now would like to make it my primary residence again for 2 years. Would I be able to claim the gain (minus depreciation), tax free?

2012 - Purchased primary residence in CA

2014 - Converted into rental

2020 - Convert to primary residence again

2022 - Sell primary home and claim tax free gain (500K for married couple)

Any help would be appreciated. Thanks