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Updated over 7 years ago,
Newbie seeking advice re. 1st rental investment north of Austin
Hi folks -
I am newbie on BP. I have been contemplating purchasing my 1st rental property - I am looking at SFH, 3-4 Beds, 2-3 baths, 1500-2000 sq ft in the range of $180K - $240K. The areas I am looking at are Round Rock, Cedar Park, Leander, Pflugerville, etc. Being located in CA, this will be a remote buy for me.
I have been reading some of the forums discussing investment in rental properties around Austin. I am also looking at Rent.com or Zillow.com and I am getting a bit concerned about there being many many rentals (SFH) in the areas I am targeting. Is this normal for north of Austin? Do you guys have any idea about average vacancy rates for these areas? Is it too hot to buy just now? I think I would be what you would call a buy and hold investor, but would like some CF. Is that impossible in today's market?
Sorry for all the questions all at once.