All Forum Posts by: Raquel Barela

Welcome Lynn Currie!

Carl G.
Welcome to BP. I also reside in Austin. Great to see the many new Austin members! Hope you can make it to the Feb 2 meetup.

Marc Bodinger
I use the alerts to notify me of anything Austin :) I agree with Joshua Dorkin that this may be what is driving lots of Austin discussion.

Lamar Cannon
Welcome to BP! I'm also a fellow Austinite. Looking forward to networking at the 2/2 Austin meetup.

Jason Grote
I have considered it, but my full time job helps with many aspects of investing (cash down, financing, etc...). One of my goals is to generate enough passive income that full time REI is an option.

Jason Grote
Actually my methods are pretty simple. I always invest in desirable areas or areas that are overlooked and have great potential (think East Austin - close to downtown and underdeveloped. Especially 5-7 years ago).

My goals are appreciation and cash flow. I've owned properties in Tarrytown, Rollingwood, Westlake, East & South Austin and downtown. These locations are usually easier to rent out and easier to sell when I choose to sell.

I'm always researching property prices in areas that I'm interested to insure I know a good deal when I see one. And by always, I mean even when I don't plan on buying a property. By doing so, I always know the market value of properties in a certain location and I can act quickly when I see a deal (given that I have the cash to do so).

If possible, I try to buy properties in the "off season" (November through February) although I've bought properties at other times as well. I've found that sellers are usually more motivated during the "off season". One of my best deals was on a house in Westlake that I made an offer on over the Christmas holiday (in 2004).

The Austin market is pretty tight and the city continues to grow, so I may have to change my methods and strategy eventually. However, this has worked for me and of course I'm always interested in learning what has worked for others. By the way, none of my properties would have ever followed the 2% rule but they still turned out to be good investments. :-)

Ben Carpenter
As others have mentioned, you will want to be mindful of asbestos. This article may be helpful to you.
http://realestate.msn.com/article.aspx?cp-documentid=13108036

Jason Grote
Thanks Jason for the link. Good discussion.

I prescribe to most of the methods you use and have been most successful in the appreciation aspect (have been investing since '98). I'm always interested in learning about what has worked best for others.

Thanks for your feedback!

Has anyone that invests in the Austin real estate market found properties that meet the 2% rule? What other methods have successful investors used to determine the worthiness of a SFH investment property in Austin.

Thanks!

Ethan Henry

Let me know if you're still looking. I may be able to provide a referral.

Reggie: I came across this spreadsheet that may help you with your analysis.
http://www.biggerpockets.com/files/user/wklose99/file/mfh-or-sfh-deal-analyzer

I've never purchased/owned an apartment building but am interested in how your deal goes. Keep us posted.