2nd Property after Primary Home

2nd Property after Primary Home

Austin, TX · Member since 2017 · 14 posts · 3 votes

Hello All!

I currently live in Austin, TX in a home that I’ll be renting out in the next month or two when I relocate to Nashville for work. I am wanting to expand my portfolio and buy a multifamily rental here in Austin, Nashville or any other market that makes sense to grow with. Any tips, help or suggestions would be amazing. 

As a side note: my family owns my childhood home that sits on a lot that is zoned for multiple homes. I planned to develop another home in the back half but a contractor inquired about renting the lot for their construction trailer so I’m pausing my development. 

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  • Jay HurstBusiness Member
    Lender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
    2y
    Quote from @Tashanique Jones:

    Hello All!

    I currently live in Austin, TX in a home that I’ll be renting out in the next month or two when I relocate to Nashville for work. I am wanting to expand my portfolio and buy a multifamily rental here in Austin, Nashville or any other market that makes sense to grow with. Any tips, help or suggestions would be amazing. 

    As a side note: my family owns my childhood home that sits on a lot that is zoned for multiple homes. I planned to develop another home in the back half but a contractor inquired about renting the lot for their construction trailer so I’m pausing my development. 


     Speak with a lender, see what is possible. Understand you will need to put 20-25% down on a multi-family. 

    Hurst Real Estate, INC4.991 Reviews
  • Austin, TX · Member since 2017 · 14 posts · 3 votes
    2y
    Quote from @Jay Hurst:
    Quote from @Tashanique Jones:

    Hello All!

    I currently live in Austin, TX in a home that I’ll be renting out in the next month or two when I relocate to Nashville for work. I am wanting to expand my portfolio and buy a multifamily rental here in Austin, Nashville or any other market that makes sense to grow with. Any tips, help or suggestions would be amazing. 

    As a side note: my family owns my childhood home that sits on a lot that is zoned for multiple homes. I planned to develop another home in the back half but a contractor inquired about renting the lot for their construction trailer so I’m pausing my development. 


     Speak with a lender, see what is possible. Understand you will need to put 20-25% down on a multi-family. 


     Thank you Jay, i actually got preapproval today!

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