All Forum Posts by: Steve R.

@Vikram Jayaram

I believe that there would be a pretty decent hike in appreciation till the apple campus comed up and probably few more years after that and prices would likely flatten out as the overall market stabilizes up north. I am planning to sell and invest in higher cash flow areas like San Antonio at that point in time (hoping that it would still cash flow better than Austin).

I would argue that it really depends on a specific neighborhood inside each of these areas. There are some really desirable areas in Leander which could give run for the money to CP / RR neighborhoods. Especially the areas surrounding the Leander station is awaiting to explode. There is a new St Davids Medical center there and plan for a bigger hospital plus ACC campus/ Northline Downtown development and (the most obvious one) access to rail service. With Apple campus coming up and direct train service to Domain, I see this area to be fast developing and has a better chance of higher rental yields moving forward. Schools are pretty good as well. They opened up Glenn High school three years back, new middle school opening up this Fall and relatively new Elementary schools as well. School Ratings are bound to improve in this area too. So I feel that even though RR/CP might have an edge over Leander, I see the gap closing down and Leander edge forward in few years time.

Pflugerville is a good option too. Especially area near tech ridge. Lot of software companies moving in Parmer Innovation center. Austin MLS Soccer team is building a 45 million dollar training center. Looking at the plan of Parmer innovation center they have a really good vision (more like Domain-sque entertainment/ work colocation type development) and companies are leasing up the spaces so fast. Excited to see its development.

@Corey Dulimba

In my case i have a really good tenant who is paying above market rate in Leander since i rented out my new built home to him. He has bEen staying put for threeyears now and going to extend lease for couple more years for the same amount.

I am getting around 2100$ as rent and PITI comes to around 1620. Considering 5% vacancy (a bit optimistic, can put 8%) and 100$ mgmt fees i cash flow around 250$. Since its a new built home i haven't put anything for maintenance but i will most likely sell it in few years time once apple campus comes up and people started moving in.

@Sarah Klein

For one of my sfh i am getting 250$ cash flow even after paying 100$ for property management (bought for 260k). For another property i get around 125$ cash flow (bought for 280k), but higher appreciation.

My vote is for Leander. The rail network has huge scope for the future. New Apple campus would positively affect Leander more than RR. Also there is a different vibe wrt Leander more of a young family suburbs when compared to RR. More land to develop as well.

that being said you can't go wrong on either of these places.

Thanks Costin !!! Will contact him next week for sure.

Thanks Neil. I shall check with him.

Hi all

Lot of lenders i spoke with needs 75% LTV for cashout refinance. Looking for lender referral who can do zero closing cost and 80% LTV or lesser for cash out refinance serving Austin area. If you know off any credit unions that you used and are reliable please let me know about that as well.

Thanks,

Steve

Finding Multi family deals in these areas which makes the number work has been pretty difficult for me, unless you find some really good off market deal. 

Another area I would target is near Leander station. Within 2 miles of it, you have ACC, ST.Davids hospital growing big, 110 million project for revitalization of Leander downtown, new middle school opening up next fall and has a new high school (probably around 2 yrs old) in the same location. Has very easy access to new/old apple campus via US 183A highway. Train takes you all the way to downtown. 

Lot lot of new built homes nearby. If you want slightly older built (<5 years) homes, look at a neighborhood called Savannah Ranch. Get smtg there while it lasts at this pricepoint.