HI, I am located in the Bay Area and looking into an investment property in Austin or the surrounding areas. I have talked to a few realtors and am getting conflicting information on which areas have the best potential for growth. I understand SFH's go for a significant amount more than the listing price and the appreciation on the property is the smart play not the cash flow. I am looking for a SFH in the price range of $300-400K.
Areas that I have been advised to look into are: Del Valle, Georgetown, Round Rock, Kyle, Buda.
Are these right areas to look into? Which are has the best potential? Are Hornsby Bend & Manor worth looking into?
New to Real Estate · Georgetown, TX (78626) · Member since 2021 · 6 posts · 1 vote
5y
@Iqbal Brar
Hi, I am in the Georgetown TX area and I can vouch that both Georgetown and Round Rock are growing pretty fast. I don't know if you trust it but Zillow's 1-year forecasted growth shows Georgetown at about 12.5% increase and Round Rock at 15%. I haven't looked around Pflugerville, TX too much but I'm sure it is also growing fast since it is closer to Austin. I would be happy to discuss each location in more detail if you would like.
Since you're getting conflicting information from the agents you've contacted. I recommend the real estate agent that I used recently. Many people are swamped with the market but really took the time to really view a lot of houses with me to make sure we got a good one. I do warn you it may take some time to get a property since the market is so hot here. A house we put an offer on 10k over the asking price was outbid by someone.
Rental Property Investor · Round Rock, TX · Member since 2016 · 1k+ posts · 971 votes
5y
@Iqbal Brar - you can't go wrong with RR and Buda, nor with Georgetown or Kyle...10 years ago.
To hope that the crazy appreciation of last couple years or the absurd FOMO current craze will continue for next years is wishful thinking. Or maybe not, if the printing presses continue output by the trillion.
For sure, I would not call that investment property, especially when the thinking is "the cash flow is not the smart play". Once again, never heard of "buy high, sink money in it, hope to sell even higher". Speculation, sure. Smart investing, not.