Looking to invest in NW Austin (Cedar Park, Round Rock)

[Naveen G.]

Hi everyone,

I'm from the San Francisco bay area and I'm just starting out in the real estate investment world and I'm really glad I found this website. I am learning quite a bit by going through different posts on Austin real estate investing. I am looking to invest in a single family home in Cedar Park or Round Rock (preferably Cedar Park). The reasons being some of the zip codes in these areas have good schools and these areas are also pretty close to tech companies. I am primarily looking for appreciation and not cap rate (completely fine with less cap rate after paying mortgage using monthly rental). However, before taking the plunge, I wanted to get some expert advise.

• What is the prediction for these areas (Cedar Park or Round Rock).?? Did they already reach a point where further appreciation will be very slow.?? In the coming years, how is the job growth going to look like in the NW Austin.??
• I do not want to spend beyond $250,000. I see that none of the new constructions are available in this price range(checked online and could not find any). So, I am open to buying old constructions. Ideally, I would also like the lot size to be bigger (>=0.25 acres). I see few such listings online. But I am not sure if there are any catches. So, is it possible to find good single family homes with big lots in my budget.?? (in a good location and good school district).
• If I end up buying an old home, what will be the disadvantages.??
• How fast old constructions get rented in these areas.?? Will I ever end up in a situation where I can't find a renter for months.?? (from reading online, I found that houses in these areas get rented fast. Not sure if that applies only to new houses).
• Can I also get suggestions/references for few local realtors who can help me find the house.?? (would be ideal if the realtor also deals with property management).

I would really appreciate if any expert can answer the questions. Thanks in advance.!!