Keep hearing Austin is booming. Trying to understand how accurate is this from future standpoint? Is it too late to buy investment property in Austin and expect appreciation? What is potential for more growth in austin and why? How much more growth over 5 yr duration can we expect? Which area in particular will be best for consistent rental and bit of appreciation on investment property as well? Any referrals on realtors to talk to that have expertise with on-market focus? Individual home (built 2000 or later) with good schooling district (7+ rating) and Millenial/family friendly, B+ category area, preferably IT segment target for a rental investment property. Less risk to loose properties value by significant margin (-20%). Investment willing to make in $250K-$500k. Should I be looking elsewhere than austin?
I would say atlanta or nc
What is happening in nc or Atlanta please?
Depends on your geographic flexibility. Best economics for rental units is in: Oklahoma City Jacksonville Houston This is based on price-rent ratios and economic growth
Seems like you don’t really understand the full picture of a cap rate. Yes some cities are going to have a higher Rates but that’s for a reason. No free lunch bro
Where can I research or assess these metrics posted for better understanding plz
Five years ago you guys would’ve really been on to something
I know my local market isn’t any good. So need to diversify. Will look into the above markets.
Austin was an investment opportunity five years ago I think
Cedar Park or Leander
What about round rock and pflugerville?
Why please or what's happening here
Round rock is good too as it has good schools for rental. Cedar Park is really good overall but property tax will kill you .
I’ve noticed that as a pretty normal thing there. Makes up for no state income taxes I guess.
Property tax will increase every year by some percentage and you will regret it so nobody buys expensive homes in Austin .
@lukP56 you should look into the property tax reform that just passed in the latest Texas legislative session: https://www.texastribune.org/2019/05/25/texas-house-approves-property-tax-reform-package-sending-it-senate/
I don't think Austin makes sense for investment property out of state.. For one thing the rental incomes are not very good. Better than the Bay Area maybe, but it's still a fairly expensive place to buy relative to the entire country. Secondly property taxes are very high. So you are paying income tax in CA and property tax in Texas? not sure if that makes sense. In recent past the parts of Austin that have seen rapid appreciation are the areas in central Austin near downtown. I really doubt that appreciation in North Austin over years has beaten the stock market in any notable way. Some on here speculate that the opening of various tech offices will change that, but I'm more skeptical. North Austin has a lot of space and is not particularly rich in amenities. I think you are probably still better off buying in areas that are currently expensive, but still doable for semi-regular people. There are various neighborhoods that you need about 500k to get in right now that I could see rising to $1 million in a few years. (Think Cherrywood, Hyde Park, Brentwood, Crestview, etc). Particularly as FANG starts to import a bunch of > $250k/yr jobs. Then neighborhoods like Zilker, Bouldin Creek, Clarksville, and Holly and probably going to move closer to absurd Bay Area prices.
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Interested too. Have been researching at getting into better markets than my local real estate.
Do u have any research done to share offline?