Austin Multi-Family Numbers Troubles

[Bradley Chiakas]

Hey BP community,

I've sold one of my assets in Houston (getting out of natural disaster areas) and am looking to re-invest in Austin. I have been running the numbers on 2-4 unit multi-family properties through realtor.com and am having a tough time seeing anything that is worth investing. ($350-$500k with minimal cash flow after NOI - Debt Service).

Is Austin that hot of a market, or am I not looking in the right areas?

Any general recs where to look in the greater Austin area for cash flow?

Thanks!

Lee

[Beth Phariss]

@Bradley Chiakas I am running into the exact same thing. There are a few that could be fixed up to obtain higher rental rates, but I think I am going to start doing some direct mail to try to get some off market opportunities or trying to find a wholesaler.