Investing in Austin area

[Yuzi Stha]

Hi everyone,

I am planning to invest in Austin area, looking to invest in Multifamily if possible, 600-900k range, duplex or triplex, any good suggestions/ideas?

Currently I invest in MF in Boston suburbs, but interested in investing in booming Austin market, also if you guys could list some good areas/neighborhood in Austin area please list those areas as well.

Thanks in advance!

Yuzi

[Ryan Kelly]

@Yuzi Stha the vast majority of duplexes were built in Austin and Round Rock between the 1960's and 1990's, so you'll be in core neighborhoods with likely no HOA. The condition of most properties will be worn down, so you'll want to make sure you have a post-closing remodel budget as well to maximize the rents. Price range for most duplexes will be $400k-$800k unless you get into the hottest zip codes. Triplexes basically don't exist here, but there are some quadplex properties as well. They perform more like crappy little apartment buildings than a residential property, so I prefer duplexes. Be prepared to compete for them as the market is booming.