My First Investment in Cedar Park, TX (near Austin)

[Belle Tseng]

Hello Everyone,

I've finally decided on my first property investment, and it is in Cedar Park, TX, just northwest of Austin.  I've just gotten into contract, and like everyone's recommendation on a property manager.  I've already downloaded BP's Property Management Interview Worksheet.  But your recommendations will mean so much more.

I'm also hoping the Property Manager will recommend or have a good contractor, since this place requires some remodeling before it is rent ready.

The quick math on my 3BR/2.5BA SFR property is the following:

$245,000   Offer Price

  $10,000   Make Rent Ready

$1800 to $2000 Monthly Rent 

Not exactly the 1% rule... but I did try really hard in the Austin metro area.  And I think Cedar Park is nice with newer homes, good schools (9,10,9) and close proximity to the new Apple Austin campus.

Any advice welcomed.  I'm targeting closing at the end of Feb.

Thank you all in advance,

Belle

[Account Closed]

Good luck in Austin. If you ever want to get into less expensive homes, consider the Alamo City down south :). Here, pick up 50-60k houses and make 12%+ cap, no maint. needed if you decide to owner finance as we advise. Cap rates are a lot higher on these cheap houses.