Looking for rental Investment in Austin, TX

[Mike Pierce]

Hello all,

My wife and I live in Orange County CA and we are looking into purchasing an investment property out of state.  We like Austin TX because we are big music lovers, and it seems like Austin TX just keeps growing.  We don’t know much about the neighborhoods in Austin so we are looking for some guidance.  We will be traveling to Austin this upcoming Friday and will be there for 5 days to check out different neighborhoods and get a feel for things. 

Our budget is up to $400k (less would be nice), and we would put down a 25% down payment.  We are looking to hold the property for many years, so something that will cash flow is very important. Another thing that I think would be nice is to find a newer home so we don’t have to worry about big expenses like roof replacement, or AC replacement anytime soon. 

Any suggestions to areas we should look into would be great.

Thanks!

Mike