All Forum Posts by: Rick Reeder

The Domain is the "population center of gravity" for the Austin metro. With the new MLS stadium and Apple campus going up not far away, it will be a great spot for appreciation.

I agree with @Matt Stricklen - with Tesla and all of their suppliers moving in near 130 & 71, and Amazon building a ~4M sq ft logistics hub in Pflugerville near 130, the area along the toll road, and to the east (Manor, Bastrop, Eglin) will appreciate for you nicely, so long as you can play the long game.

Hi @Johnny Le!  Come on, we'd love to have you! :)  Yes, if you're not local, you'll probably want a property management company.  The exception would be if you're buying high-end property that is fairly new (few maintenance issues and collecting rent is not an issue).  Let me know if you ever want to chat about options.

Welcome @Julia Stroud and congrats on getting started!  

@Vu V. Windsor Park is a great spot. Gentrifying rapidly, you can get a deal to add value to with a remodel.  Big lots, mature trees, and good location.  Mueller has less opportunity as most of the construction there is fairly new. 

...and if you're working with an agent, they can tell you the rate from MLS or Realist.

@Andrew Graham that’s excellent that it isn’t in the flood plain. I’ll send you a connection request. I’d be happy to meet you out there, or in town, to discuss what it’s worth and look at other options for where to put the process via 1031.

Good question!  The Tesla announcement added a ton of value to your land in one day - a great stroke of luck.  You mention its Ag Exempt - are you growing cash crops?  Is it producing any income today?  Is it in the flood plain?  Lots of property out there is, and it will swing the value substantially if it is.

Based on your daughter's situation, my initial thought is to sell the land and 1031 into a cash-flowing property that you can improve over the next few years.  You can get a good deal on something that needs a little work, and hopefully have it up to "coasting speed" while you can actively manage the work.

I would also form a trust and get an attorney/firm who is familiar with this type of situation to act as trustee upon your passing.  I can make a recommendation if you're still in the Austin area.  Not a fun conversation, sorry, but you're wise to be thinking ahead!

Since you'll want an asset that generates cash flow and capital protection to provide for your daughter in the long run (more so than appreciation) you may be better served in a second tier market with an A or B class property that will have little drama with tenants and need relatively less maintenance.  Just my initial take, obviously the devil is in the details!  Good luck to you - you're a good dad!

@Maria Bakaj, you're very welcome!  Hit me up anytime for more info - Austin is a great place to invest.

100% agree.  I had a listing near Rosedale in June.  We priced it right and had four offers in the first weekend.  Very low supply, still lots of buyers looking, so a great time to sell - but also a great time to buy if you're looking for capital preservation and appreciation!