Struggling to House Hack in Austin Area

[Maxwell Reeder]

Hey all, I'm new to BP and recently moved to Austin. I've been looking to own property for a while now since the Navy, and Austin's allure, along with Brandon Turner's book, has given me the confidence to get this ball rolling.

I am looking to use a VA loan to purchase a home that I can live in and rent out to others. A multi-family would be ideal, but I would live in an ADU also and rent out the main house if I were able to find that (square footage does not matter to me for my personal living situation).

I have been looking for the last week through online listings and an MLS app and pickings seem pretty slim. It looks like any decent multifamily property is either not near Austin, or is fully occupied (which is a disqualifier for me due to occupancy requirements of VA loan). I realize I will have to accept negative cash flow for a while, and that's fine; in the meantime at least I'll be building equity in a growing market and not wasting money on rent.

Can anyone generally familiar with this market provide any advice or words of caution? I am very enthusiastic about networking with others around the area and having discussions. I am soaking in as much information as I can every day and would like to start building relationships.

Thanks y'all!

[Andrew Postell]

@Maxwell Reeder what you are experiencing is very common here in Texas.  In Texas there is TONS of land.  So much raw land that housing prices are less expensive here than other cities.  But in locations like Chicago, New York, San Fransico, New Jersey....they have very limited land.  When home prices are higher and land is scarce, then you need duplexes and tri-plexes more to battle the cost of housing.  While we have some multi unit properties here it's certainly not like other places.  You'll continue to have challenges finding a property that fits your description but it is possible...just really difficult.