Austin Investment Property

[Pencil_Rubber]

19 minutes ago, AnandaVivek said:

Not sure about that. In texas there is land all over..people don’t prefer those houses when u want to resell unless ur lot is an half acre

agree ..but, even though there is lot of land in the suburbs, core area will have its value kada mama??

[hushh fatak]

2 hours ago, Pencil_Rubber said:

Good Morning Mamalu ... mee help koncham kavali 

Austin Cedar park area lo oka property chusanu which is in Leander SD school zone (Leader High School kinda vastundhi). House is SFH with ~2500 sq ft with 4/2.5 bedroom. This is 23 years old property but has new roof (3 Yrs Old), AC (7 Yrs Old) and decent backyard. I'm negotiating for $370K. This is for investment only 

Emantaru ... Old houses in Austin valla pros and cons cheppara please. 

 

Pros:

- Austin has clay soil. So there will be foundation settlements after 10 years. So we can see the foundation issues if any as this is old property. There are none so observed so far.

- Old neighborhood. Not like new communities with fancy neighborhood which has high HOA's

 

Cons:

- Old Property

- Hard to Rent?

 

Thanks buddies 

 

 

austin and its suburbs especially Leander has the highest count of available rental properties in the entire USA.

That does not mean you wont be able to rent it out. See if you can even come close to breakeven of rent vs EMI plus HOA

[Pencil_Rubber]

10 minutes ago, hushh fatak said:

austin and its suburbs especially Leander has the highest count of available rental properties in the entire USA.

That does not mean you wont be able to rent it out. See if you can even come close to breakeven of rent vs EMI plus HOA

Yes buddy... thats what I observed too... too many rental listings..... but also observed that 4/2.5 SFH property with less than $2400 are only 11 properties in the cedar park area. So I thought it is ok as there are only handful of properties.

 

Cedar park and Leander has total 53 properties for less than $2,400 per month... too much inventory for rent 😲

[hushh fatak]

2 minutes ago, Pencil_Rubber said:

Yes buddy... thats what I observed too... too many rental listings..... but also observed that 4/2.5 SFH property with less than $2400 are only 11 properties in the cedar park area. So I thought it is ok as there are only handful of properties

11 properties ani matrame kadu...

entha mandhi moving to that area who needs rental home.. and appartments are there for 1300 1b and 1500 2b around that area... prices have reduced compared to 2021 and 2022... if someone bought home, they are waiting and they will stay in appartments for 1500 rather than 2500$ in SF home.. 

the match saves them 12K over the year.. 

new home lo top end appliances and furnitures + home theater vachestayi for 12K

 

covid lo daily 100 families moved to austin area... 

now hardly 5 families 

 

[mettastar]

Ma friend valla home round rock lo 2 months kaali unde .. 

So vacancy and maintenance kuda add chesko nee calculation lo

[Pencil_Rubber]

Just now, hushh fatak said:

11 properties ani matrame kadu...

entha mandhi moving to that area who needs rental home.. and appartments are there for 1300 1b and 1500 2b around that area... prices have reduced compared to 2021 and 2022... if someone bought home, they are waiting and they will stay in appartments for 1500 rather than 2500$ in SF home.. 

the match saves them 12K over the year.. 

new home lo top end appliances and furnitures + home theater vachestayi for 12K

 

covid lo daily 100 families moved to austin area... 

now hardly 5 families 

point to be noted buddy .... Thank you for your insights

[mettastar]

Also as you are out of state .. property management vallaki ivvali .. vaallu usually 1 month rent chanrge chestharu anukunta .. whenever a new tenant moves in. Also 5% or so management fee

[perugu_vada]

Not all schools in Leander/round rock:/ cedar park ISD have good school rating .. so dhanni base cheskuni chusthunte make sure the school rating is gud 

ipudunna uncertainty .. high interest rates ki may not a wise thing to buy as an investment property emo 

[Pencil_Rubber]

Just now, mettastar said:

Also as you are out of state .. property management vallaki ivvali .. vaallu usually 1 month rent chanrge chestharu anukunta .. whenever a new tenant moves in. Also 5% or so management fee

true buddy .... this is the investment for future .... with so many corporate offices in Austin, I feel like eventually this market will grow. I'm not expecting exponentially but some growth for sure. That's why evaluating the options of investing in Auston area. 

[sarvayogi]

1 hour ago, Pencil_Rubber said:

ledu bro .... loan ee .. kani 30% down anukuntunanu and 7% interest rate ki $200 padutundhi out of pocket after all txaes and everything .... future lo rent perigna or interest rates tagina positive cash flow vastadi appudu 

 

370K ki SFH 4/2.5 2500 sq ft SFH ante ne koncham tempting ga vundhi

add 23 year old pecchulu eppudu oodipotayo teliyani kompa also to that list

[Pencil_Rubber]

2 minutes ago, perugu_vada said:

Not all schools in Leander/round rock:/ cedar park ISD have good school rating .. so dhanni base cheskuni chusthunte make sure the school rating is gud 

ipudunna uncertainty .. high interest rates ki may not a wise thing to buy as an investment property emo 

agree. .... once interest rates start going down ... we may not see these prices again

[Pencil_Rubber]

Thanks everyone ... I feel like this is not a good deal to proceed with after our discussions. I will continue looking for other properties. Appreciate all your inputs friends. 

[perugu_vada]

3 minutes ago, Pencil_Rubber said:

agree. .... once interest rates start going down ... we may not see these prices again

1st investment aithe better find something that is local to u .. so Niku konchem idea ostundi .. Ledu ante u will be in doubt all the time .. ye chinna repair or issue ochina .. as u can’t fly all the time 

[Pencil_Rubber]

2 minutes ago, perugu_vada said:

1st investment aithe better find something that is local to u .. so Niku konchem idea ostundi .. Ledu ante u will be in doubt all the time .. ye chinna repair or issue ochina .. as u can’t fly all the time

I have few in South Florida area (Weston, Pembroke pines and FLL) and looking to invest in other key areas which has possibility of good corporate jobs. 

[sarvayogi]

9 minutes ago, Pencil_Rubber said:

Thanks everyone ... I feel like this is not a good deal to proceed with after our discussions. I will continue looking for other properties. Appreciate all your inputs friends. 

my suggestion is for rental always be prepared to pay EMI if no tenants..very unlikely that in a week you can rent out..If you can afford atleast 3 months EMI along with primary home then only go for it

With 7% interest rate unless you buy 300K you wont break even

I have seen a CRE for 2.4 million near by place..its way above my limits but 2-3 friends are planning to pool in