All Forum Posts by: Kristina Modares
Kristina Modares has started 34 posts and replied 96 times.
Post: Trying Anything in Austin!
- Real Estate Broker
- Austin, TX
- Posts 104
- Votes 39
@Bryan Hancock Thanks Bryan, yeah..I think I will have to keep my options open and look into those zip codes. If you know of streets I should stay away from in terms of safety, let me know.
Post: Trying Anything in Austin!
- Real Estate Broker
- Austin, TX
- Posts 104
- Votes 39
Originally posted by @Fred T.:
In a Market full of competition, one should consider outside the box plays like networking with BK Attorneys, Estate Attorneys, Short Sale Consultant Firms, local Bank VPs, etc.
As a licensed Agent, your game just got more difficult as now you have to disclose 2 things: Investor and Agent
So if they didn't like the Investor side of you, how will they feel about the Agent side of you? This can help your Agent Business or it could hurt both businesses if you try to do them in tandem.
On a Macro level, you may want to play the TX Market with extreme care. Since the Oil Markets are seeing a pull back in jobs in those industries, you want to make sure the other sectors are growing and not flat-lined. My guess is you will start to see some resistance by other Investors in the market, prices will stabilize or start a slight decline and then it's up to the Micro Economics to determine if the "Hot Zones" will continue on or if the population makes a shift towards non-oil markets. This could be great news for your Agency Business but not so much for your Investor Business.
Investor Business...buy a patch of land and build a Tiny Home Community :)
TX could be an interesting landscape between this year and 2018...fingers crossed!/
Thanks Fred. I have thought about the Tiny Home Community. I haven't dug too much into it but from what I have heard it may be more money than one would think...but who knows!
Post: Trying Anything in Austin!
- Real Estate Broker
- Austin, TX
- Posts 104
- Votes 39
@Chris Adams Glad to here that! @Jon Klaus Thank you for the advice. My lease is up in November but I am starting this process now because I remember looking casually this summer and it was an overwhelming and frustrating process, ha. @Marian Smith you would be surprised how fast that area is changing...great houses, restaurants and stores pop up every month.
Post: Trying Anything in Austin!
- Real Estate Broker
- Austin, TX
- Posts 104
- Votes 39
@Chris Harkins @James Stevens Thanks! Yeah, I think you're right, it will be good to do regardless. I just need to approach it in a more personable way.
Post: Trying Anything in Austin!
- Real Estate Broker
- Austin, TX
- Posts 104
- Votes 39
Originally posted by @Jon Klaus:
it is super competitive in that neighborhood, but good deals are still getting done. I have marketed heavily to 78702 over the past few years, but have backed off some because it is bloodsport. Generally, you can buy a falling down shack for 200K to 350K, or something in decent shape for 250K to 400K, or new construction (not condo) for 400K+, Yes, there are exceptions.
As far as talking to the owners who might work with you, they hear from many investors, so you have to differentiate yourself.
I have built several properties there, and I own several there now, so I'd be happy to try to answer any more specific questions.
I figured that the home owners are probably so fed up of getting approached...I wasn't sure if asking would even get me anywhere with them at this point. Did you find any of your properties this way?
Post: Trying Anything in Austin!
- Real Estate Broker
- Austin, TX
- Posts 104
- Votes 39
Thank you @Jon Klaus! I will definitely have a few questions for you soon.
Post: Trying Anything in Austin!
- Real Estate Broker
- Austin, TX
- Posts 104
- Votes 39
I am absolutely in love with Austin and do not plan on leaving anytime soon. I also am a soon to be real estate agent and am looking into buying my first property within the year. The only problem is that I want to purchase in the 78702 zip code (yikes). Everybody is talking about the craziness of Austin's market and I have read on the BP forums that it wouldn't be a good investment to buy super central but I moved to Austin to be close to the city and I plan on living in this home and house hacking for as long as I need to. I currently work for Keller Williams and looking on the MLS is super stressful…I was wondering what peoples thoughts were on sending personal letters or even going door to door and letting people know that I want to buy their home and it's my first purchase and I would plan on living there myself…all of that jazz. It may seem like a stretch but I think a lot of people in that zip code feel that they are being pushed out by investors and such and I may appeal to them. I could put down 20-30 cash. Thoughts? Anybody tried this? What should I say to actually make this work? Is this just a waste of time?
Post: Joining the Bigger Pockets Community from Texas
- Real Estate Broker
- Austin, TX
- Posts 104
- Votes 39
Welcome to BP! I moved to Austin from Atlanta about 2 years ago and absolutely love it--if you ever want any advice or pros and cons of the city let me know.
Post: Austin is Hot
- Real Estate Broker
- Austin, TX
- Posts 104
- Votes 39
Originally posted by @Jon Klaus:
Where on the east side do you like, Kristina? It has become quite a varied market depending on neighborhood.
It's very true...I want to stay as close to downtown as I can for 250...I'm not quite sure what that will mean yet.
Post: Austin is Hot
- Real Estate Broker
- Austin, TX
- Posts 104
- Votes 39
Originally posted by @Guy Gimenez:
Just don't speculate when buying (ie buying based on projected appreciation)...instead, the numbers must work from the get go.
I remember clearly those investors who in 2006 thought the good times would never end and they paid a heavy financial price. Optimism is good...blind optimism is very bad.
Just look at what happened recently to oil prices and the resulting layoffs. Think those layoffs impacted communities across Texas? Who predicted those layoffs? The people who study the oil markets on a daily basis? No! My point it this Kristina. Past performance does not equal future performance...fundamentals still matter and you should move forward with eyes wide open and not depend on a frenzy mentality.
Yeah, I understand. I currently rent in Clarksville and am obviously spoiled with the location. I know I should not rent...and even more so when I am an agent. If I buy on the east side I will most likely spend more than I should but this initial investment will also be my home and I am willing to sacrifice a little for the quality of life I am trying to preserve. I just do not plan on investing in Austin anymore after I buy a homestead. I'm thinking of seeking other ways of finding these east side properties...and get off the MLS.