All Forum Posts by: Scott Sutherland

7 miles from downtown in rapidly appreciating 78744. $195K Purchase, $17K estimated rehab. $270K ARV. Rental income was $2400 per month before water damage forced the downstairs tenant to move out. $1350 Unit A/$1050 Unit B. Home will make a great cash flow investment or flip after repairs. Recent upgrades include: Low E Windows, Exterior Paint, Ikea Countertops, Cabinets, Front Load Washers/Dryer, New AC units upstairs and downstairs, rear doors into backyard from downstairs unit, satin ceiling fans, casings, baseboards, sound deadening flooring, Granite topped vanities with modern backsplash, new deck and stairs, open concept layout.

3 manufactured homes with city approvals to add 3 more units. $2750 per month income. $225,000. 45 minutes from Austin, Texas. Great alternative to an apartment complex. 

100 Ward Lane. Lockhart Tx. MLS#8175890

Post or PM me with questions. 

Scott Sutherland, Broker.

Robert,

You should also consider attending some of the local investor meetups to expand your network. There is a well attended meetup every Thursday at 11:30 at Big Daddy's burgers on 183 and Burnet.

Hope to see you there. 

Reach out if I can answer any questions about the Austin market.

I agree with Bruce. I wouldn't bet on a drop in prices in Austin. Even in the period from 2008-2010 (worst housing collapse ever) we saw a small correction of roughly 10% over the entire downturn. Then came back like mad.

I think you could find a duplex for $250-$300K in a decent neighborhood that your potential wife wouldn't object to. As long as there wasn't significant deferred maintenance you should be able to live for cheap or free in one bedroom. 

I have a client/friend that is doing something similar in north Austin 78758. I'm personally a fan of south Austin (78745/78749), but it depends on where you work and play in Austin. Our traffic gets worse every day so making the North /South decision is an important one.

I am currently working on adding a commercial general liability policy to our rental dwelling policies with State Farm. I'll repost once I review with my insurance agent. 

Hey Shawn.

I'd like to throw my hat in the ring. I specialize in Austin area investment property including, flips, new builds, vacation rentals, long term rentals, and brokerage.

PM me if I can help.

my wife and I have a few around town.

Travis Heights is a good area. And if it's your primary residence, permits are not an issue.

Pm me if I can help.

I've done Austin seasonality studies in the past and found about a 4% pricing difference from Winter to late Spring (trough to peak). I did the study in a relatively flat year to remove any appreciation variance. 

As long as you don't list between Thanksgiving and the end of December, you shouldn't see any appreciable impact.

I represent the seller of 3 manufactured homes on 10 acres outside of Lockhart, Texas. The units were built in 1998-2000 and total rents are $2750 per month. Purchase price $225,000. We have a local bank willing to finance 75% LTV on a 15 year term which still allows for strong cash flow. All units currently occupied. This could be an affordable alternative to those looking for mobile home parks or apartment complexes.

PM me for more details.

Scott Sutherland, Broker