All Forum Posts by: Tiffany DeTiege

Thank you all sooo much for responding. Your comments were very insightful. 

I have an opportunity to buy a dilapidated house in Austin from a family friend it is near I-35N and Rundberg. I hope to tare it down and but a duplex or quad plex. I want I deal. Are Austin's tax assessments accurate at all? The lot is around 9000sqft. How can I determine the value?

Do you really want to live next to sixteen renters? SOMETHINGS ARE NOT WORTH THE MONEY. But I would definitely do this, If these are going to be high end units or your are going to pay a property manager. Have you considered townhouses with a single car garage. For each unit. You also want to think about value if you ever decide to sale.

Little advice. Don't for get about the 2008 housing bubble.  Your realtor really works for the seller. Use the appraisal to get the price adjusted lower. Appraisers have been looking at comps for years. They have no reason to underprice the property. They actually  work for you. I would talk to the Appraiser directly and let them know you don't want to over pay and find out why they price it that way. Lastly I own 2 properties over 100 yrs old there are things that you don't know and can't know until you purchase the property and live in it. Ask yourself if you have an unexpected 50k expense would I reget bying this property. I own 10 properties and am making a killing. I would not pay more than 420k for that property. No way no how.