New Member: From Austin, TX

[Joe Scaparra]

Howdy, I live in Austin, TX and found this website today. Really a good source of info here, for beginner and seasoned investors. I spent 20 years in the United States Air Force (pilot). I then began a career as a Financial Advisor and now I own my own financial planning firm. I love real estate as an investment (not part of my firm) and I focus on duplex investing to augment projected retirement cash flow.
I have scanned the website and like what I see, but I am confused about one rule that seems to be used a lot, and that is the 2% rule. I just closed on an unbelievable duplex deal here in Austin, TX and it did not make the rule. Now I do know it is a guideline per se but really are you investors out there able to accomplish the 2% rule as a norm? I would especially be interested if investors are achieving it in the central TX region. I can do 1% rule but it seems that the 2% rule is unrealistic for an average investor deal. BTW, I own 4.5 duplexes and looking for more.