All Forum Posts by: Ryan Kelly

@Olga Daisel I think I would focus on getting your Westlake home and using other funds to purchase rentals that make more economical sense. I haven't seen any quads in our metro make more than $2k per unit (unless in 78704), let alone $7k, so not sure where those metrics come from. The second challenge would be finding land in a decent enough area where building a rental makes sense. Right now, Austin rents have softened and rent returns are very challenging. 

I recommend buy a primary home where you want and invest where the numbers make sense.

Here's a list of things to track:

- Formal lease application

- Formal signed and executed lease specific to your state

- Payment history (I recommend using online rent collection like Apartments.com, RentRedi, etc)

- Maintenance requests and receipts

- Accounting for all rental-related expenses (repairs, utilities, etc)

The more you treat it like a business, the more helpful you are to your CPA come tax time. 

I second Texas National Title, along with Capital Title, Capstone Title, and Indepemdence Title. All solid operations in the Austin metro area. 

Based on your budget, it's pretty simple. I would focus on OKC for the best bang for your buck. It's a more affordable market and lower property taxes, so you may actually have a chance to cash flow. You won't find anything close to the Austin market with that budget. 

@Ashley Kehr I use a combination of Apartments.com for rent collection, RentSpree for tenant and background screening, and Stessa for accounting. I've looked into the one-stop shop tools, but none are quite as good as these individual tools yet in my opinion. 

Welcome to BP@Chris Magistrado! I've been in Austin 33 years and happy to connect anytime. 

@Brandon Stelling I would recommend reaching out and connecting with various commercial brokers who specialize in each of these spaces. They typically will have data and newsletters as well they can send you.

@Timothy Finney welcome to Austin! We've helped lots of clients with house hacking around the Austin metro. I'd be happy to connect and chat in more detail about opportunities.

The article is based on # of sales, not price increase or decrease. Kyle is selling like crazy BECAUSE of the price drops and builder incentives. 

@Sino U. The good news is you don't need a specialty loan for a house hack, just a traditional primary home loan. As others have suggested, you could get a conventional or FHA loan if you want lower down payment options. I'm happy to connect you with the lenders our clients work with for this strategy in the Austin area.