You have gotten a number of good answers here. I just wanted to add my name to the mix as I specialize in investment property here in Austin. I own investment property in California and here in Texas and my company also can find the top investment agents in any city you are looking at whether it be in Austin, Portland, Jersey City, wherever. Feel free to give me a call or shoot me an email and I will be happy to set anything up for you. I could set up emails to be sent to you from various cities when great investments pop up for sale. You just say what you are looking for and we do the rest.
Hope to hear from you.
Dan Burstain, Investment Realtor
JB Goodwin, Realtors
I would be happy to help you analyze homes at various price ranges in different neighborhoods. The rental market here is extremely strong, and the right homes usually have multiple applications within the first few days.
I like South Austin w;here there is some good appreciation upside with rents that will cashflow nicely. Please feel freel to contact me anytime. I would be happy to discuss your investment objectives without obligation.
Contact a Realtor with the following:
1. Budget for investment
2. Cash available for down payment
3. Timing of investment
I recommend a single family home with at least 3 bedrooms, 2 baths. Duplexes can be good too.
Ask the agent to send you available properties with market analysis of current rental rates and rental history of the area.
Best to use an agent who is also a property manager to help you make the best decision for value and rental liability.
I can help as I am a Realtor, Property Manager, Architect, Builder. Call or email anytime.
Claire McIntyre, Architect / Broker - Realtor / Builder
MMI McIntyre Associates
Best way to go is to interview a few local Realtors and find someone you can work with. Ask for references and documentation of transactions recently. There are between 8000 & 9000 agents in the Austin board and about 50% barely handle a transaction a year.
I showed a duplex today to an investor that didn't fit his needs but would cash flow (marginally), has good appreciation outlook. It does need some work and has 1 side rented to a long term tenant (about a $100 discount unfortunately).
Bill Austin ~ 512-709-6343 ~ email@example.com
Best thing to do would be to have a consultation with a Realtor in town and discuss your specific needs. There are many strong sub-markets here in Austin. Feel free to email me at Stuart@beyondrealtytx.com
I can help you find the right properties for investment. I am a Realtor and own rental properties as well, so I think I am very qualified to advise you, find the properties and then help you find the right tenants.
Contrary to what somebody mentioned below, your taxes will not go up 10%. Remember that everything you spend on an investment property (including property taxes, insurance, repairs, broker fees, etc. etc.) is tax deductible. It's true that homeowners who live in their home have the homestead that lowers that property tax, but not that much.
Contact me to discuss in more detail.
Vivianne Dordea, Realtor
Sierra Homes Realty
Do you know anything about Austin at all? I always start by sending clients a relocation packet, discuss what their end goal is, then go from there by setting up an online search via email. I have had some buy without seeing, but it just depends. Austin is a really hot market right now, low on inventory, so you have to be quick to move.
Hope that helps but for any further information, feel free to contact me.
The area in which you purchase determines the quality of the tenant, the rent price you can demand, and the other lease homes/units you are competing with.
Major issue here - Texas is a homestead state, so if you are an investor, your taxes could go up more than ten percent per year which will effect the Return On your Investment.
If you are buying a condo you need to know who the property management company is, what the HOA fees cover and most importantly, you would need to figure in minimum 8 percent for a property manager for your unit.
Also, be very careful which agent you choose - who knows how to create a pro forma for you, knows your limit and stomach for being an investor...and lastly....knows the neighborhood where you are investing.
The best way to go about it is to enlist the services of an agent here in Austin. We have the knowledge of the local market and can help you identify properties that would fit your parameters.
Francie Little, Broker, ABR, CLHMS, CNE, CRS, Green
Million Dollar Guild
Platinum Top 50
Austin Portfolio Real Estate/KW Luxury Homes