Newbie - Austin real estate

[Anshul G.]

Hey guys, 

I am new to Austin- moved here during the pandemic. I work in tech and new to real estate investing. I’m looking to buy in or around the Austin area. What are some of the good areas/zip codes to invest right now? What has been the impact of covid on the prices in Austin? My goal is appreciation- (little cash flow would be nice). Hoping to connect with fellow investors and real estate agents.

Thanks, 
Anshul 

[Emma Powell]

Welcome to Austin, a great place to live and invest! We were there for 20 years in the tech industry and recently relocated to Salt Lake City. We got started in investing by joining the local REIA and getting on every wholesaler mailing list. I'd run all those deals through the Bigger Pockets calculator and my homemade spreadsheets, learning to run comps on Redfin for flips and rental comps on Zillow and our local rental classifieds, visiting properties for sale, and meeting with contractors. We had done a huge live-in rehab in Kyle TX that we sold before moving to Salt Lake that provided the cash we needed to start buying rentals with hard money lenders and providing our own down payments, as well as valuable experience managing contractors. Living in the house helped us to be very hands on and on top of the situation to become wise to all the ways they mess with you, or what you're looking for in a good one. We learned to never pay up front and create a schedule of payments so they're only paid once a stage of work is done and therefore easy to fire when they ghost or get unreliable. The best ones never asked for any payment until the job was complete and invoiced. Once we had that, I felt much more capable to manage a rehab I didn't live in, but in my same city. We bought 5 that first year (none through the MLS) and then moved into commercial multi-family with a 50 unit, 16 unit, and 18 unit with pretty heavy rehabs. Just get in there, learn to find good deals, find money, and manage construction. Just keep at it, learn something each project, and you'll do great!