All Forum Posts by: Rick Reeder

Check out Cherrywood, Mueller, French Place on the east side.  Lots of development is happening there, hip restaurants, and a quick and cheap Uber to downtown.  What's your budget?  Any appetite for renovations? 

Welcome @Alyssa Markowitz!  Yes, Austin is tough for cashflow, at least in the near-term.  I did a write-up on investing here recently - check it out here:  https://layer3realestate.com/i...

I also just put an investor into a place in Killeen ($105K purchase, $5K reno budget) and it is cash-flowing $300/month with a property manager.  Happy to discuss options if you like!

Agreed - I'm very bullish as well.  I'm watching major employment / commercial hubs.  Traffic is a big issue and people like to live close to where they work or play - or preferably both.  I like the Parmer Ln corridor in North Austin and obviously the 130 corridor with Tesla, Amazon and what's going to happen at COTA.  

The 130 Toll Road's time has finally arrived!

You can check with a local broker who can compare plans and rates on your behalf.  I like to use https://eckertgroup.com/  They're local and been in business a long time.

@John Cannon - good advice above, and just in case you're not already aware; the City of Austin is *infamous* for being very difficult to work with on development projects.  Cited as just about the worst ever seen about 5 years ago.  There has been some progress, but go into this with eyes wide open:

https://www.statesman.com/arti...

I agree with @Ryan Kelly - look to the "close-in" 'burbs.  Pflugerville, Round Rock, Georgetown, Leander.  I had some clients who went to look at a 75 year-old place in N Central Austin a month ago.  Needed a ton of work... went on the market at $350K - closed at $410K!  You could get more house for your money in a place like Manor, but you won't see the appreciation.  Good luck, and let me know if I can be of help.  

@Nick Voyer welcome to Austin!  When you say "get involved in real estate in any way I can"... that could obviously mean a lot of different things.  Can you clarify?  You want advice on how to find a deal to invest in?  You want house hacking advice? You want to work for a mentor to learn how to (1) be an agent, (2) be an investor, (3) be a lender, etc. etc.  Give us a more well-defined request, and I'm sure folks will offer to help.

Tesla battery manufacturing also hiring in Austin.  HQ won't be far behind.  8VC just announced it is coming here from the bay area.  Austin is cooking!

Thanks @Howie Chen - that's exactly right!  However, if you can afford to be neutral or slightly negative for a while, in the long run it will pay off.