Investment property--condo in Austin where should I buy it?

Asked by Sue, San Jose, CA Sat Jan 26, 2013

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Eric Hegwer’s answer
Eric Hegwer, Agent, Austin, TX
Sun Jan 27, 2013
Hi Sue,

What kind of return are you looking to get? If it is a simple cash-positive-flow situation, there are lots of options available, as the current rental market in Austin is around 98% occupied (we are in a retal shortage and rents are going up everywhere around here).

Are you looking for a short term flip, or a longer buy-and hold type of investment, or is it some place that eventually you would like to live in, as each of these is a completely different situation.

Also, I used to live in San Jose - I went to SJSU and worked for SRI in Menlo Park during the Dot com boom. What is happening here in Austin is just like what happened to the Bay Area in the 90's.

Give me a call if you just want to chat -

Cheers,
Eric Hegwer
A JB Goodwin Agent

eric@EricEstate.com
512.712.5842
http://www.EricEstate.com
1 vote
Investmentcl…, Home Seller, Dallas, TX
Wed Apr 10, 2013
Hi Sue,

First you need to confirm your pricing options, financial needs and requirement of the local. You should contact a local realtor for more information on this and the things you need to know before you buy condos.


Investment Club 360
2943 Thomas Ave, Dallas, TX
0 votes
Betina Forem…, Agent, Austin, TX
Tue Jan 29, 2013
Dear Sue,
It is going to depend on your budget more than anything. Most areas are leasing quickly due to high demand. I would say pick a neighborhood that has good schools, as parents that can't afford to buy in the best school districts will often rent a home that feeds into the higher ranking schools. You can check out our schools at http://www.GreatSchools.com or http://www.SchoolMatters.org. I wish you the best.
Sincerely,
Betina
0 votes
Michael Claw…, , Austin, TX
Tue Jan 29, 2013
Central, close to tranportation, schools, parks, etc. I have to re-done condos at 2450 Ashdale. One 1 BR, one 2BR available now!

Michael Clawson
Goldwasser Real Estate
512-914-0670
0 votes
JOSEPH E JAR…, Agent, Austin, TX
Sat Jan 26, 2013
Sue, the answer to your question depends on many factors, like your price range, short-term goals, long-term goals, et cetera. If you are not yet working with a Realtor and would like some excellent, professional advice and assistance, please contact me and we can discuss working together. I also answered your question about condominiums versus single-family homes.

Joe Jarusinsky, Realtor/Master Instructor, Keller Williams Realty, Austin's #1 Real Estate Company, Ranked #1 by Buyers and Sellers (JD Power & Assoc. 2012) Call 512-261-4415
0 votes
Susie Kay, Agent, Dallas, TX
Sat Jan 26, 2013
I would suggest that you work with a local realtor. If you don't have a realtor then I can connect you with one. I have worked with her in the past and she is really good.

Let me know.

Susie Kay, Realtor®
GRI, CHMS, SFR
Residential/Commercial/Investment
English-Indonesian-Hokkien
------------------------------------------------------------------
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
469-371-2899
susie_k@att.net

http://www.dfwdreamhomes.net

Servicing your real estate need is my priority!
0 votes
Angele Moyse…, Agent, Austin, TX
Sat Jan 26, 2013
Hi Sue,

South, north and east Austin is where the investors I work with are buying. They each have their set of criteria and stick to it and have been pleased with their purchases. Of course, student rentals are always great but you have to deal with warrantability issues so you'll be best paying cash for those. I saw your other question as to which is better? SHF or condo. To skirt around the warrantability issue you will have a much easier time dealing with single families (and duplexes, at that).

If you would like me to elaborate on any of this please feel free to contact me anytime and I would be delighted to assist you in any way I can. Thanks so much!

Angele Moyseos, Broker
Vox Real Estate LLC
acmoyseos@gmail.com
512.466.8252
0 votes
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