Hello , Moved to Austin last year and purchased an acreage home for 950k. Home and overall Austin experience so far is great. I have 400k in funds to for new investments. Should I use the funds for backyard (acreage) development like pool , pickle ball court etc or invest in another $1 million home at Travisso that will be ready in 2025 June . Plan is to rent out current home ( good potential for rental income next year due to new high and middle school closer but won’t break even) and move into Travisso. The reason for Travisso is due to quality product features , great community and hill county which is unique for North Austin. Tax rate for existing home is 2.5% and Travisso is 2.75% . Investing in Travisso is mainly equity driven plan as there won’t be positive cash flow#mortgage #housing
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You could have moved somewhere that had pickelball and a pool already and saved some money
Hmm this is private . Most of the community swimming pools are getting filthy with crowd and pickle ball courts are tough to find during key time period
Damn son you making a killing through contracting gigs?
was with the company for 6 months in 2019 and carrying that profile though
So what is your experience? Would love to learn how you achieved this
Lol Travisso is not Austin.. its so freaking far that you might as well invest in Waco
Come and visit Travisso first and understand the value. Core Austin is boring and don’t think any master planned communities in Austin has a match to Travisso except for lakeway or Rough Hollow to some extent
> Core Austin is boring Lol, you haven’t been to core Austin
Why does blind like investing in Austin so much? Is it because blind is majority Indian, and Indians love hot weather? When investing, you need to consider the appeal to the general population, not only a certain demographic. Majority of the people will not like 100+ degree humid weather for 4 months of the year. That is why greater Austin property values are declining, and why it is hard for these properties to rent out.
Indians are in Dallas Austin has been growing as tech hub, and is a great location. Taxes are low too
There’s just no state income tax. Average property tax in Austin is about 1.9% and sales tax is about 8.2% which are both on the higher end as compared to other states.
If you buy in another place there make sure you have six months expenses for both places handy in cash.
I assume acreage could be that milestone community in Leander. I would definitely consider living in travisso than larkspur. There are lot many people in texas looking for no HOA places to have their boat/RV/ATVs so would definitely convert existing to a investment. Considering travisso last builds end in 2025, i would definitely go for it. If it is just not Austin, i would also consider Fields At Frisco - the new PGA master planned community in Dallas
Not at milestone community but a better acreage community than that for sure
Which community is it ?
Don't hold out on us OP, what's that KForce TC like
Not at KForce - I was there for a brief 6 month period. Still continuing to use that ID though
An investment in real estate that doesn’t generate a profit is a bad investment. You just down to throw good money after bad
Why do you think this investment is Bad ? Travisso product is great and is for long run equity play
Are you going to make a real net profit off any of these?
You are 3 years behind. Real estate investment is dead in Austin, specially if you are thinking about SFH. Rents are dropping every single month(9 months in a row). You won’t find a pocket in the Austin metro that can generate positive cash flow. Looks like you are very new to RE. Travisso or Leander don’t generate good rental income, also 1 million homes wouldn’t generate positive rental income, do some basic math. If you want to buy just for appreciation even with negative cash flow, then again Travisso is not a good option. It’s still way overpriced.
IIUC Op isn’t interested in positive rental income, just equity. “mainly equity driven plan as there won’t be positive cash flow”
Wow, that’s stupid!!!
That 400k would go further in the market than either of these
Not anytime in the past 30 years. What makes you so confident that you predict a divergence over decades of data?
SolarWinds, have you factored in taxes, maintenance, mortgage interest, etc? Not to mention the all-eggs-in-one-basket investment approach home ownership can be.