I am planning to buy an investment property to rent it out in Austin. Looking for some advice on location. I was thinking around UT Austin since there will always be the students crowd. I heard Cedar Park is good. What are the other good areas where people will rent? Looking for suggestions. Thanks! TC: $325k
East Austin had traditionally low home prices due to being in poor r neighborhoods. Over time and the property tax increases those folks and to move out and people with more money moved in. Over time the bad neighborhoods are flushed out due to the money.
How about a condo near UT Austin? Seems like I can get one for $200k. And it can be rent out around $1.1k? Is this true?
Some agency. It’s going to be around $100 a month approximately. I can put enough down to cover for that. The question is “Can a condo in that area be rented easily? Will there always be demand?”
You are near a large public school with tons of international students. Yes it will have demand. Not sure about the rent though. Students from various socio-economic backgrounds attend UT Austin so if your home is nice enough and close enough, you will have demand.
The market around UT is a pretty efficient market in the literal definition of the term. Prices for rental units will be set based on the potential cash flow. I’d suggest up north near one of the toll ways. Try and get a place that’ll be convenient for commutes to Apple Dell or the domain companies.
Will be profitable overall but unlikely to be cash flow positive. There is a lot of growth and gentrification in east Austin so that may be good.
Could you elaborate a bit more ?
On which part