Hey Hey Hey! New ATX Investor here!!!

Hey Hey Hey! New ATX Investor here!!!

Investor · Austin, TX · Member since 2022 · 12 posts · 13 votes

Hello Everyone! I posted an introduction a while back but got taken down due to me being new to the forums and not being aware of the rules yet (rookie move). But I am from right outside a small town in Northwest Ohio, and moved to Austin on July 1st of this year! In Ohio, I worked as a Subcontractor/Carpenter for roughly eight years (two years being mostly summer work due to being out of state for college). Over the past four years in Ohio I studied Real Estate Investing extensively reading multiple books, watching videos, listening to podcasts, and even ended up getting my Ohio Real Estate License as well. I worked as a Realtor for a couple month's before realizing that the Toledo, Ohio market was not the market I wanted to be in. I wanted more. MY dream is bigger than my hometown, and I knew I couldn't do what I wanted to do with Real Estate there so I made the decision to move down here with a best friend who was already living here and has similar dreams within the Real Estate world. Eventually, after making some preparations and taking care of some responsibilities in Ohio, I made the move down with my truck, a trailer, and a couple hundred bucks in my bank account. There was a major setback that caused me to start from scratch, that I briefly mention later in this post in my answer to question 3 for the new member posts. 

For the new member questions: 

1. I'm now based in Austin, Texas and look forward to doing most of my investing in the Austin market and the surrounding areas! 

2. My goal with BiggerPockets is to get connected with people who can share in my knowledge and love of Real Estate and elevate it to the next level. I have all the tools required to do renovations to houses and a truck as well. I have already met some pretty great people since I've moved here a little over four months ago and look forwarding to meeting more and making more connections! 

3. A fun fact about myself.. well, I love to golf and disc golf (any golf course is my happy place) but lets go with something a little more interesting.. this wasn't really fun for me I guess, but you may get a kick out of it. I actually bought my first fixer-upper with my now ex-girlfriend and had it about 85% renovated and had potential to make really good money on it, but then a little thing called heartbreak got in the way and spoiled that. Long story short, she is now the legal owner of a pretty much fully-renovated house that she will profit very well from. Yes everyone.. that means I bought a house to flip with my ex-girlfriend and believed in the love we had enough to let her be the only one with her name on the title.. (the time to roast me would be now). But we all learn from our mistakes, and that was by far my biggest mistake in the Real Estate world. Not only did I clear out all my investments to pay for renovations to the house (that I did mostly all the labor to except plumbing), I also nearly emptied out my bank accounts to fund it, and now she gets to cash in on all the profit made from it whenever she sells. But as much of a loss as I took from it, it was also a HUGE learning lesson for me. I now know to go into deals more cautiously and with more thought. I hope you guys get a good laugh out of that story! 

As you guys can tell from my short story above, I had my first experiences with fixing and flipping in Ohio and was doing pretty well with it up until the conflict started. If everything had gone expected, I would've made good money on my first flip, but as we all know in real estate (and life), nothing is certain. My lifetime goal is to become a mentor to others in Real Estate Investing and help take people from unfortunate living situations/circumstances and putting them in position to succeed in the most beautiful and powerful industry in the world: Real Estate. I have a lot to my story that I would love to share with anyone who is interested, and also would like to use it as a motivation for others to follow in similar footsteps. My life has been a rocky road with plenty of ups and downs and also well-learned lessons. I look forward to connecting with everyone and hope to cross paths with many of you who are out there hustling!

So with all that being said, I am super happy to be here in Austin, Texas making connections with everyone and learning from the best in the business on BiggerPockets! Let's make some money and change some lives together!!

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Rental Property Investor · Novato, CA · Member since 2018 · 110 posts · 145 votes
3y

It sounds like you’re pretty set on investing in the Austin market (which I’m not familiar with except that my mentor exited that market 2 years ago due to tax increases). Maybe some deals are presenting themselves now. I would recommend writing down goals (short term 1-2 years, mid term 3-5 years, and long term 10+ years).  You seem determined to make things happen. Don’t worry about the bumps along the way - we’ve all had them and it’s part of the human experience. 

See this reply in the discussion

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  • Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes
    3y
    Quote from @Andrew Caris:

    Hello Everyone! I posted an introduction a while back but got taken down due to me being new to the forums and not being aware of the rules yet (rookie move). But I am from right outside a small town in Northwest Ohio, and moved to Austin on July 1st of this year! In Ohio, I worked as a Subcontractor/Carpenter for roughly eight years (two years being mostly summer work due to being out of state for college). Over the past four years in Ohio I studied Real Estate Investing extensively reading multiple books, watching videos, listening to podcasts, and even ended up getting my Ohio Real Estate License as well. I worked as a Realtor for a couple month's before realizing that the Toledo, Ohio market was not the market I wanted to be in. I wanted more. MY dream is bigger than my hometown, and I knew I couldn't do what I wanted to do with Real Estate there so I made the decision to move down here with a best friend who was already living here and has similar dreams within the Real Estate world. Eventually, after making some preparations and taking care of some responsibilities in Ohio, I made the move down with my truck, a trailer, and a couple hundred bucks in my bank account. There was a major setback that caused me to start from scratch, that I briefly mention later in this post in my answer to question 3 for the new member posts. 

    For the new member questions: 

    1. I'm now based in Austin, Texas and look forward to doing most of my investing in the Austin market and the surrounding areas! 

    2. My goal with BiggerPockets is to get connected with people who can share in my knowledge and love of Real Estate and elevate it to the next level. I have all the tools required to do renovations to houses and a truck as well. I have already met some pretty great people since I've moved here a little over four months ago and look forwarding to meeting more and making more connections! 

    3. A fun fact about myself.. well, I love to golf and disc golf (any golf course is my happy place) but lets go with something a little more interesting.. this wasn't really fun for me I guess, but you may get a kick out of it. I actually bought my first fixer-upper with my now ex-girlfriend and had it about 85% renovated and had potential to make really good money on it, but then a little thing called heartbreak got in the way and spoiled that. Long story short, she is now the legal owner of a pretty much fully-renovated house that she will profit very well from. Yes everyone.. that means I bought a house to flip with my ex-girlfriend and believed in the love we had enough to let her be the only one with her name on the title.. (the time to roast me would be now). But we all learn from our mistakes, and that was by far my biggest mistake in the Real Estate world. Not only did I clear out all my investments to pay for renovations to the house (that I did mostly all the labor to except plumbing), I also nearly emptied out my bank accounts to fund it, and now she gets to cash in on all the profit made from it whenever she sells. But as much of a loss as I took from it, it was also a HUGE learning lesson for me. I now know to go into deals more cautiously and with more thought. I hope you guys get a good laugh out of that story! 

    As you guys can tell from my short story above, I had my first experiences with fixing and flipping in Ohio and was doing pretty well with it up until the conflict started. If everything had gone expected, I would've made good money on my first flip, but as we all know in real estate (and life), nothing is certain. My lifetime goal is to become a mentor to others in Real Estate Investing and help take people from unfortunate living situations/circumstances and putting them in position to succeed in the most beautiful and powerful industry in the world: Real Estate. I have a lot to my story that I would love to share with anyone who is interested, and also would like to use it as a motivation for others to follow in similar footsteps. My life has been a rocky road with plenty of ups and downs and also well-learned lessons. I look forward to connecting with everyone and hope to cross paths with many of you who are out there hustling!

    So with all that being said, I am super happy to be here in Austin, Texas making connections with everyone and learning from the best in the business on BiggerPockets! Let's make some money and change some lives together!!


     I wonder if there’s any grounds to sue her

  • Investor · Austin, TX · Member since 2022 · 12 posts · 13 votes
    3y
    Quote from @Account Closed:
    Quote from @Andrew Caris:

    Hello Everyone! I posted an introduction a while back but got taken down due to me being new to the forums and not being aware of the rules yet (rookie move). But I am from right outside a small town in Northwest Ohio, and moved to Austin on July 1st of this year! In Ohio, I worked as a Subcontractor/Carpenter for roughly eight years (two years being mostly summer work due to being out of state for college). Over the past four years in Ohio I studied Real Estate Investing extensively reading multiple books, watching videos, listening to podcasts, and even ended up getting my Ohio Real Estate License as well. I worked as a Realtor for a couple month's before realizing that the Toledo, Ohio market was not the market I wanted to be in. I wanted more. MY dream is bigger than my hometown, and I knew I couldn't do what I wanted to do with Real Estate there so I made the decision to move down here with a best friend who was already living here and has similar dreams within the Real Estate world. Eventually, after making some preparations and taking care of some responsibilities in Ohio, I made the move down with my truck, a trailer, and a couple hundred bucks in my bank account. There was a major setback that caused me to start from scratch, that I briefly mention later in this post in my answer to question 3 for the new member posts. 

    For the new member questions: 

    1. I'm now based in Austin, Texas and look forward to doing most of my investing in the Austin market and the surrounding areas! 

    2. My goal with BiggerPockets is to get connected with people who can share in my knowledge and love of Real Estate and elevate it to the next level. I have all the tools required to do renovations to houses and a truck as well. I have already met some pretty great people since I've moved here a little over four months ago and look forwarding to meeting more and making more connections! 

    3. A fun fact about myself.. well, I love to golf and disc golf (any golf course is my happy place) but lets go with something a little more interesting.. this wasn't really fun for me I guess, but you may get a kick out of it. I actually bought my first fixer-upper with my now ex-girlfriend and had it about 85% renovated and had potential to make really good money on it, but then a little thing called heartbreak got in the way and spoiled that. Long story short, she is now the legal owner of a pretty much fully-renovated house that she will profit very well from. Yes everyone.. that means I bought a house to flip with my ex-girlfriend and believed in the love we had enough to let her be the only one with her name on the title.. (the time to roast me would be now). But we all learn from our mistakes, and that was by far my biggest mistake in the Real Estate world. Not only did I clear out all my investments to pay for renovations to the house (that I did mostly all the labor to except plumbing), I also nearly emptied out my bank accounts to fund it, and now she gets to cash in on all the profit made from it whenever she sells. But as much of a loss as I took from it, it was also a HUGE learning lesson for me. I now know to go into deals more cautiously and with more thought. I hope you guys get a good laugh out of that story! 

    As you guys can tell from my short story above, I had my first experiences with fixing and flipping in Ohio and was doing pretty well with it up until the conflict started. If everything had gone expected, I would've made good money on my first flip, but as we all know in real estate (and life), nothing is certain. My lifetime goal is to become a mentor to others in Real Estate Investing and help take people from unfortunate living situations/circumstances and putting them in position to succeed in the most beautiful and powerful industry in the world: Real Estate. I have a lot to my story that I would love to share with anyone who is interested, and also would like to use it as a motivation for others to follow in similar footsteps. My life has been a rocky road with plenty of ups and downs and also well-learned lessons. I look forward to connecting with everyone and hope to cross paths with many of you who are out there hustling!

    So with all that being said, I am super happy to be here in Austin, Texas making connections with everyone and learning from the best in the business on BiggerPockets! Let's make some money and change some lives together!!


     I wonder if there’s any grounds to sue her

    I appreciate your consideration in finding a solution, and others have mentioned that I should consider it too. Personally, it took me a long time to get over it, but I've finally made peace with it and moved on when I made the move to Texas. It was a beautiful lesson to learn, a lesson I'll never forget. But it's in the past now, and all a human can control is the present. Thank you though! 
  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    3y

    @Andrew Caris come out to our meetup tonight at 7! We post them all on BP here https://www.biggerpockets.com/...

  • Investor · Austin, TX · Member since 2022 · 12 posts · 13 votes
    3y
    Quote from @Jordan Moorhead:

    @Andrew Caris come out to our meetup tonight at 7! We post them all on BP here https://www.biggerpockets.com/...


     I'll be there! 

  • Rental Property Investor · Novato, CA · Member since 2018 · 110 posts · 145 votes
    3y

    It sounds like you’re pretty set on investing in the Austin market (which I’m not familiar with except that my mentor exited that market 2 years ago due to tax increases). Maybe some deals are presenting themselves now. I would recommend writing down goals (short term 1-2 years, mid term 3-5 years, and long term 10+ years).  You seem determined to make things happen. Don’t worry about the bumps along the way - we’ve all had them and it’s part of the human experience. 

  • Real Estate Agent · Austin, TX · Member since 2018 · 63 posts · 48 votes
    3y

    Welcome to Austin!  Happy to have you here!

  • Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
    3y

    I invest here in Austin and Killeen, happy to connect 

  • Investor · Austin, TX · Member since 2022 · 12 posts · 13 votes
    3y
    Quote from @Derek Janssen:

    It sounds like you’re pretty set on investing in the Austin market (which I’m not familiar with except that my mentor exited that market 2 years ago due to tax increases). Maybe some deals are presenting themselves now. I would recommend writing down goals (short term 1-2 years, mid term 3-5 years, and long term 10+ years).  You seem determined to make things happen. Don’t worry about the bumps along the way - we’ve all had them and it’s part of the human experience. 


    I have a best friend living here who convinced me to move down so Austin actually chose me in a way! I love the city and the potential here! Also I appreciate the advice my man! 

  • Investor · Austin, TX · Member since 2022 · 12 posts · 13 votes
    3y
    Quote from @David Sandvig:

    Welcome to Austin!  Happy to have you here!


     Thank you David! Happy to be here!

  • Investor · Austin, TX · Member since 2022 · 12 posts · 13 votes
    3y
    Quote from @Eliott Elias:

    I invest here in Austin and Killeen, happy to connect 


     Let's do it!

  • Julio GonzalezPro Member
    Specialist · West Palm Beach, FL · Member since 2008 · 4k+ posts · 1k+ votes
    3y

    Glad to have you as a part of this awesome community, Andrew! 

  • Investor · Austin, TX · Member since 2022 · 12 posts · 13 votes
    3y
    Quote from @Julio Gonzalez:

    Glad to have you as a part of this awesome community, Andrew! 

    Thank you Julio! I'm glad to be here too!
  • Andrew SyriosPro Member
    Moderator
    Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
    3y

    Welcome to BP Andrew!

  • Investor · Austin, TX · Member since 2022 · 12 posts · 13 votes
    3y
    Quote from @Andrew Syrios:

    Welcome to BP Andrew!


     Thank you Andrew!

  • Real Estate Agent · Austin, TX · Member since 2022 · 16 posts · 2 votes
    3y

    Andrew, welcome to BP and the Austin area. Local realtor here, would love to connect with you and discuss more.

  • Ryan KellyBusiness Member
    Real Estate Broker · Austin, TX · Member since 2018 · 1k+ posts · 1k+ votes
    3y

    @Andrew Caris welcome to ATX! As someone who's been here since 1992, happy to connect and share some history on the market and investing options. Shoot me a DM and we'll connect!

    Ryan Kelly Group - Keller Williams5112 Reviews
  • Melanie ThomasBusiness Member
    Real Estate Broker · San Antonio · Member since 2022 · 1k+ posts · 491 votes
    3y
    Hi Andrew, welcome to Bigger Pockets! Happy to chat if you ever look to hire a professional PM in ATX. Looking forward to future progress updates! Good luck & happy investing!
    RentWerx Property Management4.73215 Reviews
  • Rental Property Investor · Los Angeles, CA · Member since 2020 · 13 posts · 13 votes
    3y

    Hey Andrew! That's awesome. I'm considering making the move to Austin myself in the next couple of months using an FHA loan to buy a fourplex. Thank you for sharing your story, it's definitely a good learning lesson. I'm looking forward to watching your success, please keep us updated on how everything goes!

  • I​nvestor & Agent · Tulsa, OK · Member since 2016 · 1k+ posts · 1k+ votes
    3y

    Welcome to Bp

  • Real Estate Broker · Austin, TX · Member since 2012 · 1k+ posts · 1k+ votes
    3y

    @Austin Wolff The self sustaining fha rule for fourplexes kills most Austin metro deals, btw. 

  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    3y

    @Austin Wolff I've enjoyed my multifamily househacks here in Austin if you want more info!

  • Rental Property Investor · Los Angeles, CA · Member since 2020 · 13 posts · 13 votes
    3y
    Quote from @Aaron Gordy:

    @Austin Wolff The self sustaining fha rule for fourplexes kills most Austin metro deals, btw. 


     Thanks Aaron, it looks like I need to do more research. For all my time listening to the BiggerPockets podcast (and even working with a lender on a triplex a few years ago), this is the first time I've heard of this, which is a testament to how much more things I have left to learn.

    Correct me if I'm wrong, but the self-sufficiency test for 3 or 4 units funded by an FHA loan means the maximum mortgage payment cannot be more than 75% of the total rental income, correct?

  • Real Estate Broker · Austin, TX · Member since 2012 · 1k+ posts · 1k+ votes
    3y

    @Austin Wolff You are right, sort of. The total expense can't be more than 75% of the market rental income. That scenario is nearly impossible currently. You should have a good chat with a creative mortgage broker that specializes in investment properties as there might be other possibilities for you as there are so many ways to pull off a deal. If you are a veteran then you are golden. 

  • Rental Property Investor · Los Angeles, CA · Member since 2020 · 13 posts · 13 votes
    3y
    Quote from @Aaron Gordy:

    @Austin Wolff You are right, sort of. The total expense can't be more than 75% of the market rental income. That scenario is nearly impossible currently. You should have a good chat with a creative mortgage broker that specializes in investment properties as there might be other possibilities for you as there are so many ways to pull off a deal. If you are a veteran then you are golden. 


     Got it, that makes sense. Thank you for the heads up! 

  • Lender · Austin, TX · Member since 2022 · 474 posts · 586 votes
    3y

    Glad to have you on BP and here in Austin!

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