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Updated about 2 years ago on . Most recent reply
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Austin Mentor for BRRR Deal
Hi BP Folks!
I'm not exactly new, but new enough and a little out of the game since last Spring when I finalized my one BRRR deal. A lot has changed since then! And I'm in Austin and looking to do this here, rather than a small town in TN. Here's the situation: I am currently renting in Austin, and I would like to propose to my landlord to buy the house eventually. It has been a rental for 10+ years and really needs a full reno. I am currently STR'ing the front part of the house, informally duplexing with a privacy screen and a small kitchenette set up. The house has a great layout for that, so that I can live comfortably in the back of the house. If I were to own it, I would like to use commercial funding through an HML or private lender to buy and renovate, with a more formal (but not legal) separation of space, then stay here occasionally and STR/MTR the 2 spaces.
I don't have any super specific questions right now, I just feel really out of the loop with RE and what's going on here in Austin specifically, and I would love to connect with someone who is knowledgeable and would be willing to be a touchstone for me through the process. I need to connect with resources here- Realtor, funders, builders- so I can get some numbers going and see how feasible this is.
Much appreciation and looking forward to hearing from some folks!