Investor · Austin TX · Member since 2015 · 68 posts · 32 votes
I am planning to buy a primary as well as investment properties in Austin soon. I see prices have come down a little and may come down more due to over supply. Any recommendations.
Lender · Denver, CO · Member since 2022 · 467 posts · 230 votes
2y
Hello Sandeep,
Buying property in Austin, whether as a primary residence or for investment purposes, is an exciting venture. Given the current market dynamics, I would start by understanding which you seem to have a grasp on. Next, I would get pre-approved for a mortgage, this not only gives you a clear understanding of your budget but also strengthens your position as a serious buyer when making offers. I would also explore all the possible loan options such as a conventional, FHA, or investment property loan. In summary, being well-prepared and informed about the Austin real estate market, coupled with strategic financial planning, can help you make sound decisions whether you're buying a primary residence or an investment property. I hope this finds you well and please don't hesitate to schedule a time to chat with me using the link below if you have any more questions about creative financing options.
Real Estate Broker · Detroit, MI · Member since 2021 · 28 posts · 10 votes
2y
Bigger Pockets has links to Investor Friendly Agents and Lenders. I personally used the lender search to connect with a lender to get a DSCR (investor) loan a while back.
I'd start there as BP has researched them to make sure they can offer what you need.
Real Estate Agent · Austin, TX · Member since 2014 · 360 posts · 331 votes
2y
@Sandeep Dhall Creative financing for your primary home is easy. There are places in the Austin area that take 0% down. Creative financing on investment properties is a bit more tricky. Can be done though. For example, owner financing is always a good place to look to keep your down under 20%. Of course there are hard money loans as well.
Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
2y
@Sandeep Dhall my group works with investors quite a bit and we are all investors ourselves. We're also the #1 duplex listing team in Austin.
Prices have definitely come down and we're seeing some great deals happen. Since 2022 we're down around 15-20% and that varies based on the area. I'm always up to talk more about what we're seeing work in the current Austin market. Co-living houses seem to be the new preferred strategy and we're seeing clients have a lot of success with them!