All Forum Posts by: Ryan Kelly

It’s definitely much more affordable again to buy and rent. Renting is now cheaper than the national average for price compared with median income.

@Ronak Jain welcome to the Austin area! I'm a local real estate broker, mortgage lender, and investor. I'd be happy to connect anytime to talk shop. Feel free to shoot me a DM. Cheers!

Right now, you are treating it more like a job than a business. I absolutely recommend using a rental screening tool, not just for credit scores, but criminal history, eviction history, and job verification. In addition, doing it professionally protects you and helps you avoid fair housing violations. We use RentSpree and it's invaluable for getting detailed information and verification.

@Lawrence Haddon I have a great STR management contact if you need one. Shoot me a DM.

It’s crashing so hard in Austin our median home price is 0.0% different than it was in September 2024. No change. Austin’s big correction has mostly played out already. Some other markets will see effects in different stages.

@Andy Sun great work Andy and the best description of this process I've read from a post. 

Welcome to BP! I’m a real estate broker, lender, and residential investor here in Austin. I own small multi-family properties and I’m a passive investor in syndications as well. I’m happy to connect and talk shop anytime.

Totally understand your perspective. Based on data, I would say Austin isn't dead, it's over developed. Population growth for the metro came in at 5.1% over the past two years and we were just ranked #1 for GDP growth of any major metro in 2022-2024 at 13.5%. At the same time, tech is seeing hiring freezes (lowers buyer demand) and we have built the most apartments of any major metro in the country in the past 4 years, along with a ton of new subdivisions and condo towers (over supply). Sellers who cannot sell also flip their properties to rentals while they wait, adding to the over supply of rentals. It's a simple game of supply and demand, and supply is well above current demand absorption.

“Renting out quickly” and Austin don’t align currently. I’m assuming you have a downtown condo based on your info, so my apologies if I'm incorrect. We have a high supply of rentals downtown and competition is fierce. Typical downtown Austin condos have 18 months of sales inventory and nearly a year of rental inventory as you are competing heavily with A-class new build apartments. Austin isn’t suffering due to the economy or incoming demand, it’s all about over supply. Do you happen to have friends, co-workers, or an Austin network you can tap to secure a 1-2 year tenant? That’s your best ticket for a quick deal.

You are doing a fantastic job and likely ahead of 99% of your BP colleagues. You are on a great track with your real estate. Your ACTUAL challenge sounds like you are in a career you don’t love. Now that you are making a bit of cash flow from real estate, can you start to transition to a career you love better? That might be my focus for the next 2-3 years. If you are doing work you love (or like a lot), you won’t feel the same pressure to hit some future cash flow survival number.