How is the multi-fam- quadruplex, duplex market doing in Austin?
Member since 2023 · 14 posts · 1 vote
How is the multi-fam- quadruplex, duplex market doing in Austin?
Most Popular Reply
Investor · Austin, TX · Member since 2013 · 662 posts · 1k+ votes
2yQuote from @Suvarna G.:
Wondering if it is time to sell or keep. I am cash positive but thinking if time to move to different markets.
Are you investing just to invest? Do you have a plan or strategy; and then I ask you Why?
Are you after more money? What is your why? Are we trying to make more money for money sake?
Really, what is your goal, time frame and WHY? This will determine which action to take.
If you are cash flow positive in this market, that is a really good thing! Are you comfortable with your investment, location and tenant quality? If your consider moving to something else how are these items going to fare?
Don't make a move, just to make a move. Be intentional, develop a strategy that supports your goal and a goal that supports your WHY! Your goal stands on top. The Why is the motivation to keep pursuing the goal and the strategy(ies) are the steps to accomplish your goals.
If over time you realize a better strategy to get to your goal then it may be time to make a change. However, don't let money be the driving factor. Making more money at what cost. Selling, buying, relocating, finding new team to work with all take increase effort and uncertainty.
Only you can make the determination. But if you have found the fountain of youth, why look for another..............unless the fountain you found has flaws that warrant looking again. Cheers.
8 Replies
- Real Estate Broker · Austin, TX · Member since 2012 · 1k+ posts · 1k+ votes2y
duplexes are trading at 11-14 grm. 4plexes are trading at 13-15 grm. There was a 4plex at 2106 kirksey that was priced too low at 12 grm, had multiple offers and eventually sold at 13.5 grm.
- Member since 2022 · 405 posts · 455 votes2y
If you are looking to sell, a quick chat with a local agent would give you a very good idea of what you could get. I would be happy to refer you to one.
- Investor · Austin, TX · Member since 2013 · 662 posts · 1k+ votes2y
Quote from @Suvarna G.:
Wondering if it is time to sell or keep. I am cash positive but thinking if time to move to different markets.
Are you investing just to invest? Do you have a plan or strategy; and then I ask you Why?
Are you after more money? What is your why? Are we trying to make more money for money sake?
Really, what is your goal, time frame and WHY? This will determine which action to take.
If you are cash flow positive in this market, that is a really good thing! Are you comfortable with your investment, location and tenant quality? If your consider moving to something else how are these items going to fare?
Don't make a move, just to make a move. Be intentional, develop a strategy that supports your goal and a goal that supports your WHY! Your goal stands on top. The Why is the motivation to keep pursuing the goal and the strategy(ies) are the steps to accomplish your goals.
If over time you realize a better strategy to get to your goal then it may be time to make a change. However, don't let money be the driving factor. Making more money at what cost. Selling, buying, relocating, finding new team to work with all take increase effort and uncertainty.
Only you can make the determination. But if you have found the fountain of youth, why look for another..............unless the fountain you found has flaws that warrant looking again. Cheers.
- Member since 2023 · 14 posts · 1 vote2y
Thanks Joe. Good points.
In answer to your questions, investing to be have passive income. Austin has been a tricky market in the last two years with predictions of decreasing (or not growing) prop value.
I don't have a better opportunity (better return) but should one come by I want to be thinking ahead. - Investor · Austin, TX · Member since 2013 · 662 posts · 1k+ votes2y
I have been investing in the Assist area for 19 years. I have never sold any of my properties and I have never lowered rents. Life is good and Austin remains hot for a rental market. People from all around the country are coming to Austin to invest. If your Cash Flow positive now then it should only get better from here. Cheers.
- 2yRyan KellyBusiness MemberReal Estate Broker · Austin, TX · Member since 2018 · 1k+ posts · 1k+ votesAustin went up in appreciation for 30+ years, and has just had a correction for 18 months. It's likely reversing course as we speak and on track to appreciate again in 2024. If you have a long-term plan, Austin's hard to beat for appreciation. If you are already cash flow positive, I predict your rents will continue to improve over time as well with the demand still coming to the market.
Quote from @Suvarna G.:
Thanks Joe. Good points.
In answer to your questions, investing to be have passive income. Austin has been a tricky market in the last two years with predictions of decreasing (or not growing) prop value.
I don't have a better opportunity (better return) but should one come by I want to be thinking ahead.
Ryan Kelly Group - Keller Williams5110 Reviews - Investor · Austin, TX · Member since 2013 · 662 posts · 1k+ votes2yA couple of things: Passive income is a desire (not even a goal because it is too broad) but needs to be linked to a WHY. For example: I want to develop a strong passive income stream to: (this is a why) so that I can not rely on a 9-5 job and have the FREEDOM of TIME to: (TRAVEL, Spend more time with Family, concentrate on a hobby, volunteer with a NON-Profit, develop a business ect).
Quote from @Suvarna G.:
Thanks Joe. Good points.
In answer to your questions, investing to be have passive income. Austin has been a tricky market in the last two years with predictions of decreasing (or not growing) prop value.
I don't have a better opportunity (better return) but should one come by I want to be thinking ahead.
Second point: Looking for a better opportunity is fine; there is always going to be a POSSIBLE better alternative, However think in terms of WHAT is better ( it is not always return). I have a great wife but I hope to find a better one!? No! What makes a better one!?
Find your strategy that you can build confidence and boldness needed to become GREAT! I am a duplex investor. People ask me why don't I upgrade to buying individual apartment complexes. I could do that but I am content with duplex investing. I am confident, knowledgeable and highly successful with small multi-family and I have achieved my Goal and my WHY! Moving to Apartments probably would be successful but it involves more risk and uncertainty that I don't need because I have the game won now.
Now don't get me wrong: If your goal is more audacious like I want to build a 100 million dollar real estate company and I am starting out with a SFH but my vision is so much grander then you should absolutely be looking for better opportunities.
For us more simple minded investors, my advice: choose a strategy you like (feel comfortable) and perfect it!!!! Cookie cutter approach worked great for me. I am a much better investor, property manager, acquiring repairmen, assessing properties than I was 10 years ago. This gives me more confidence which translates to being bolder and more successful. I feel that way with small-multifamily but would have to put more effort if I was to shift strategy. More effort is not a problem at age 35 but I am 68 and have no desire to put in more effort........at 68 I don't want or need to make more money, I want the FREEDOM of TIME to do what, when and where I want. My focus now is ease of management; prioritized over making MORE money!
You may not be there now but you will someday!!! My bottom line is if something is working for you now, perfect it, build more confidence, develop your strategy and then go KILL IT! Cheers.
Join the conversationCreate a free account to reply, vote on answers and follow this thread.