Home Buying in Austin>Question Details

Elainechrist…, Home Buyer in Austin, TX

where might my husband and I look for a duplex that is nice enough we will want to live in one half and rent the other.?

Asked by Elainechristensen, Austin, TX Fri Dec 21, 2012

I have experiences renting things out in salt lake city but am new to Austin and want to know what I can find there. I just want a duplex till I am more established there and then will rent both halves and move to a single family home again. I want a good area however that will be comfortable for us now and easy to rent later.

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BEST ANSWER
Lakeway is a very nice community. I live here, so if you would like to know more about it,, please give me a call.

David Cummings
Buyer's Agent - KW
512-431-7446
0 votes Thank Flag Link Fri Dec 21, 2012
Thanks, Elaine. I look forward to seeing you mid-January.

Best,
David
Flag Fri Dec 21, 2012
thank you I will after Christmas. wont be there to look till Jan 15 but wanted a jump on things and thank you.
Flag Fri Dec 21, 2012
Elaine;
Welcome to Austin! As others have mentioned, it all depends on your Price Range. However, there are other factors, such as what type of rentors you desire (college students, young professionals, couples, families, etc.), the type of activities you enjoy (running, walking, boating, shopping, etc.) as this would help locate a duplex in an area you'll enjoy until you are ready to move into a single family residence, and how much of a work commute you may desire (with duplexes all over Austin, I'm sure we could find you one close to your work).

Central Austin is always ideal for enjoying and getting to know Austin and many young professionals and college students seek rentals here.

If you'd enjoy having Buyer Representation, please let me know and then we can work with you to determine the best areas for you and find a duplex within your budget range.

You can contact me via my website: ShannonSchmitz.com
1 vote Thank Flag Link Fri Dec 21, 2012
This will depend on several factors such as your price range and if you will be working and want to be within a close vicinity of your job. I would be happy to email you properties and discuss this with you further. My cell is 512-695-5144 and my email is kristee@theleadersrealty.com. My partner and I also have experience in leasing and can help you rent out the other side.

Sincerely,

Kristee Leonard, REALTOR®
Broker, GRI, SFR
512-695-5144 Cell
http://www.theleadersrealty.com
0 votes Thank Flag Link Sun Dec 30, 2012
Hi Elaine,
Everyone pretty much has the same advice, but as someone who has owned a triplex with a garage apartment in the back and lived in one of the units, I'd like to offer some additional thoughts for your consideration. One of the things that you have to be very comfortable with is "being on duty" 24/7. If something goes wrong, even if it's something minor, the fact that you are "right next door" makes it convenient for tenants to contact you at any time. When you live inches away from your tenant (or whatever the thickness of the walls are), you'll want to be very careful in screening tenants so that their lifestyle will be compatible with yours. Since you'll be a landlord/investor, analyzing a property's value is a lot different than purchasing a single family residence that you'll occupy. So if you're not comfortable with computing cash flow, rate of return, cap rates, etc., be sure to employ the services of a real estate professional who has experience with investment properties. Best of luck with your search and let me know if I can answer any questions for you.

Cheri Stringer, REALTOR®
Capital City Sotheby's Int Realty
Certified Home Marketing Specialist®
Certified Negotiation Expert®
Senior Real Estate Specialist®
512.461.4192
http://www.cheristringer.com
0 votes Thank Flag Link Sun Dec 23, 2012
thank you very good advice. I have had investment properties most of my life but you are right i have never lived in them. I have condos I rent out but I live across town from them now. That is something to think about. thank you again.
Flag Sun Dec 23, 2012
There more than 1000 duplexes available for sale in Austin right now. They range in price from a low of $55,000 up to more than $1.4MM. Many are in the $150-300k price range.

Your price range will dictate the specific area(s) we'd recommend . Please let me know your general price range, and some more details on what type of neighborhood you're looking for.

In general (and this is not an absolute guide) - units are newer and larger further away from downtown, or older, smaller, the closer in you get to downtown.)

Please give me some additional details and I can makes some further suggestions on specific markets.

Kevin
512-522-8470
0 votes Thank Flag Link Sun Dec 23, 2012
Elaine,
Thank you for your response to my post on Friday about what you are looking for. This is very helpful! I will do some additional research and gather a list of properties and areas that may work for you. If you will email me at Margaret.jolly@kw.com with your email address, then I will send you a list of recommended properties to look through. Thanks, and hope you have a blessed holiday! Margaret Jolly 512.496.2281
Flag Sun Dec 23, 2012
thank you. You hit my price on the head I am selling a place here for 260,000 and need to 1031 it to a place there. I know that means I have to use at least that much and am willing to go a bit over but not to much. I would say 275,000 is my limit but if something is extra special I might stretch to 280,000 or so. I would prefer newer and larger as long as they would be easy to rent. I am spoiled I have a place that is new and right downtown here but I know that is rare most places. My home is newer also and a bit farther out but also going to be rented for now as I can not sell for what I want yet. I have 3000 sf and know I will not get that but I do need 2000 if possible. thank you.
Flag Sun Dec 23, 2012
I bought a duplex in the Allandale neighborhood, it has been a great opportunity, a wonderful place to live and commute to downtown quickly and super-convenient. Allandale is very walkable with lots of places nearby to eat and shop. It also is an older neighbrhood, formerly a farmstead with larger lots. Good luck!
0 votes Thank Flag Link Sat Dec 22, 2012
thank you I will look there.
Flag Sat Dec 22, 2012
Elainechrist, depending on your price range, there are quite a few different types of areas where duplexes are here in Austin. I do work with investors and resident landlords like you on a regular basis, and also handle single-family residences when you get to that point. Other determining factors would be how far you want to be from downtown, your work, schools perhaps, and any other types of activities you engage in.

Please click on my name and review my Credentials and Client Testimonials, and contact me if you would like some excellent, free professional assistance. I also have a great team of lenders & inspectors who are schooled in duplexes, title companies, etc. to assist us throughout the process. I just closed on a great duplex for a client similar to you last month, and I'm closing on another next Thursday! I keep my finger on the pulse of the rental market, the investment market, etc. as I am not only a top Realtor here in Austin(ranked in the Top 1%), but I'm also an investor myself with multiple properties throughout the greater Austin area.

I look forward to speaking with you and will do all I can't assist you! Also, my lenders will pre-approve you at no cost to you if you are looking to finance, and since I give them a lot of business annually, they give my clients preferred rates and lower fees typically.

Joe Jarusinsky, Realtor/Investor/Master Instructor
Keller Williams Realty, Austin's #1 Real Estate Company, ranked #1 by Buyers and Sellers (JD Power & Associates 2012)
512-261-4415

PS-I do work seven days a week so feel free to contact me this weekend if you would like to get the process started.
0 votes Thank Flag Link Fri Dec 21, 2012
There 113 duplexes available right now in Austin, ranging from $55,000 up to $1,495,000! Most are in the $150-300k rance. If you will let me know your general pricerange, and some other information about what type of neighborhood appeals to you most (generally, you can choose from newer and larger and further away from downtown, or older, smaller, and closer to downtown.) I'd be happy to narrow down to a few communities I would recommend.

Margaret Jolly
512-496-2281
margaret.jolly@kw.com
0 votes Thank Flag Link Fri Dec 21, 2012
Hello Elaine.

There are many nice areas with duplexes available in Austin. The determining factors will be what price you can afford, proximity to work (if you're commuting) and size of the unit(s). I do a lot of leasing as well as sales and can help you evaluate the potential lease income as well as ensuring you're paying a proper market price for any property you are interested in.

Please feel free to contact me anytime to discuss what you're looking for and I'll be delighted to give you the best Realtor service you've ever experienced.


Ron Cullinan
Avalar Austin
GRI, CRS, ABR, CLHMS, e-Pro
512-799-3239
austin_realtor@earthlink.net
http://www.austinonlinehomes.com
0 votes Thank Flag Link Fri Dec 21, 2012
Hello,

That is a great idea. Please call me so we can further discuss this. I have ample experience working with investors like yourself.

Sal Zuniga
Szuniga@gretx.com
512-698-4800
0 votes Thank Flag Link Fri Dec 21, 2012
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