All Forum Posts by: Neil Narayan

The new budget proposal would raise property tax revenue by 8% -- the highest cities are allowed without voter consent. Luckily starting the next year, a new state law limits the amount cities can raise property tax revenue without an election at 3.5%

https://cbsaustin.com/news/local/austin-city-manager-proposes-8-percent-jump-in-property-tax-in-new-budget?fbclid=IwAR0GxCGnuAMnNx6s4tXHAAdyL6bfQ-sD4LrCzC1XFcfu0fyUKIIUbdvDaEU

1. - seems there are a lot of new developments in downtown -- is Austin being overdeveloped?
2. NN> we still have a housing shortage, you can see inventory stats
3. - in other words, is this a good time to get into the Austin market?
4. NN> You can't time the market but if you buy smart in a good location with Austin's growth and economy it's hard to go wrong
5. - what neighborhoods within or near austin are worth looking into?
6. NN> North Austin has the most growth
7. - any recommendations as to whether single home or multi home is preferred by those renting in austin?
8. NN> Single family for appreciation and MUF for cash flow

With the large Mixed Used Developments going in in Round Rock and the surrounding areas, the High Tech companies coming in, the schools ratings, I believe RR is still a great place to invest. Your appreciation will outweigh your cash flow for teh most part so depends on your investment strategy. 

I was able to get ~$25K worth of concessions on a $250K property for an investor client using the inspection report. The $300 it cost to get the Inspection more than paid for it self :)

One of my clients leased his vacant lot to Tesla for over flow parking while he gets his funds together to build his business office on it. Maybe you can see if some large company is willing to do that.

I started with KW as they have excellent training (but high fees).Once you know what you are doing you can switch to a lower cost brokerage if you wish. I actually got my license as I couldn't find a good investment Realtor and people found me via word of mouth so my business grew organically. The first year will be tough but if you can make it past that then things get easier every year as your referral base will grow.

I'm not in the Dallas but I will give you my two cents.

It is a high risk high reward opportunity. In Austin there are 13,000 Realtors and 80% of new agents quit after the first 2 yrs. Just in my class of 30, only 2 of them "made it". If you have a great network that helps, otherwise you may want to join a team where the splits aren't great but at least you will get some steady business. 

Hi Chaithra, 

Feel free to PM me and I can give you the lay of the land when it comes to investing in Austin.

Regards,

Neil

I would try to keep your purchase under $350k in Cedar Park and you should have no problem leasing as I have had leases that went into multiple offer in that area.

Thanks Costin, I would be interested in the mastermind group.

Also Audiobooks might be easier to share than physical books.