Home Buying in Austin>Question Details

Ryan Yep, Home Buyer in Austin, TX

Is East Howard Ln area (Harris Ridge Blvd) considered a good investment area?

Asked by Ryan Yep, Austin, TX Sat May 17, 2014

I'm wanting a second and third opinion. I'm interested in buying a condo in this area and could put down 20%. Anyone have any thoughts on this being a good investment for at least the next five years? Not sure if I'd sell it after that. I would be leasing the entire place out. I could get 4% interest rate from my lender as well. I'm totally new to this so any thoughts are greatly appreciated!

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Hi Ryan,
Having a 20% down payment is good leverage for any purchase. I can think of at least one way in which you can make a better cash on cash return than what you are currently considering. What if you could get a property for the same amount down that already has financing in place, tenants in place and is currently cash flowing? I can help you get a deal just like that. Feel free to contact me.

Russell Spillers
0 votes Thank Flag Link Fri May 30, 2014
Austin is a great place to have rental property. Whats the purchase price and what kind of cash flow do you think you could net? I always recommend 25% cash flow for first time investors, just to provide a cushion. 4% interest is awesome, so in five years, if you shall decide to sell, I think it would of been a great investment. Let me know if you want me to run you area comps on sold and lease data.

Carrie Hiner
0 votes Thank Flag Link Sat May 17, 2014
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