Austin's rental market is outstanding and rental rates are on the rise. http://www.statesman.com/news/business/soaring-rents-occupan
I represent many investors that own various types of rental properties here in Austin - from single family to multi-family.
Location, Location, Location is most important. Location to me as an Investor would mean how close is it to an area that is in high demand for rent because of Downtown, Schools, or just a high demand area. This means a location in Central Austin or the ever increasing popularity of East Austin. Students and young adults make up a large rental share, so you'd desire a property that is accessible for them.
Parking is very important. So not simply considering an area, you'll want to consider how much parking there is for a fourplex. Limited parking may affect your rental rates.
The Big Five - important items I would pay a lot of attention to would be windows, flooring, the roof, plumbing and electrical. These five areas can affect the amount of renovation required ultimately and also the amount of repairs annually.
You'll also want to consider the floorplan and flow of the units. Many fourplexes weren't built as fourplexes and result in chopped up spaces which are difficult to rent.
Lastly, there is the return on investment, so finding not only a great location, but a property at a price that will allow you the greatest ROI. You'll also want to consider the resale value of the fourplex and with Austin being a college town, most investors seek to buy properties that can be rented to students.
The best approach is to develop a good relationship with a knowledgeable, competent, and capable Realtor to serve as your Buyer's Representative. Through such a relationship you'll be able to discuss your needs, desires, and then together find the most suited investment property.
Please feel free to contact me if you have any further questions or desire representation.
Shannon T. Schmitz,
Representing Properties of Distinction throughout the Texas Hill Country.
I would stick to 78704 or 78751, 78759, 78729 for duplexes. I wish you luck!
I work with many investors in Austin and would love to provide you with the information you need to make a wise, appreciating, cash-flowing investment. You can call or text me at (512)788-1848 or e-mail me at email@example.com to find out more about what I can do to assist you.
Looking forward to hearing from you,
Keller Williams Realty
Investor/Broker 512 799 6623
Goldwasser Real Estate
I agree with the post below, duplexes are a better investment over four-plexes in the Austin area. Depending on your budget and cash on hand for down payment, there are some great properties out there that will give you 100% occupancy and allow you to build great equity with $0 out of pocket monthly on a 15 year note.
If you have any questions, please feel free to give me a call.
Make sure you're working with an experienced agent who can provide comparable sales and has an aggressive plan to locate and get your desired property under contract.
Please let me know if I can help you.
Habitat Hunters Real Estate
512 482 8651
If you are not yet working with a good Realtor (a must on a property like that, and typically no cost to you), feel free to call on me. I've helped many Investor Clients, am one myself, and also have some great Lenders, Inspectors, etc. on my team to assist us. I am one of the top Realtors with the #1 R.E. Co. in Austin, Keller Williams, also Ranked #1 Nationwide by Buyers & Sellers!! (JD Power & Assoc. 2012)
Joe Jarusinsky, Realtor/Master Instructor, Keller Williams Realty
Just a thought.
Let meet know if I may help.
I have some ideas on the best return(depending on budget) Please feel free to contact me anytime.