Realestate investment Austin or bay area
I have a bit of money for a 20% down payment of a $450k house. I was thinking of byuing a rental property in either in walnutcreek area or Austin Texas. are there people here living in bay area and have investment property in other states? Is it a good time to go in investment property?
One thing to consider, Texas is much more "landlord friendly" than California.
Also need to consider carrying costs. I’ve found it’s just not really feasible with 20% to have positive cash flow from a rental. You need closer to 30-40% down to cover tax, assessments. Hence, a more affordable area is better. And why Austin? San Antonio is more blue collar rental territory and it’s growing much faster than Austin. Same with Nashville.
Im in the same boat and i live in WC. WC is unaffordable. 450k wont get you anything close to BART. I am looking at Sac too.
Pitsburgh or antioch area?
Im new here so pittsburgh and antioch is still unexplored. Is it worth investing?
So what did u do @op?
Given your funds, I’m sure WC is out unless you want to be a slum lord, which I would not recommend. You can buy in Austin, but why not buy out in Sacramento? Lots of people moving there. Funds might still be tight there, but easier to manage the property without flying.
How about Pitsburgh or Antioch area. I know I wouldnt be able to afford a house here 😅
Both could work. If you’re looking for a failsafe investment wait for the HQ2 announcement and just follow the money.