Areas to buy in Austin

[Rajat T.]

I live in Southern California but I am looking to invest in Austin. I am looking for a SFR in $250k-$300K range and also open to doing rehab if I find a good deal. I will be putting 25% down and finance the rest. Looking to rent it out.

Can you guys recommend any "hot" zip codes or suggest best neighborhoods in Austin to invest in? I am looking for a place with some what of a cash flow (assuming minimal) and primarily counting on the appreciation.

All suggestions/feedback welcome!

[Dan Burstain]

People always say there are no great deals in Austin and nothing wit cash flow and stay away from the MLS. Well those same people have missed out on some great cash flowing deals and even better ROI. For example, there is a four-plex on the Austin MLS now that is pulling in $3675/mo in rent and is listed at $345K. That property is less than a 20 minute drive from Downtown Austin or the Domain. Now it is a four-plex street so you won't see a ton of appreciation like you do in other areas but it should still appreciate nicely and I would say much better than cash flowing places outside of Austin. We are still set to double in size in the next 20 years....that is the 11th largest city in the US projecting to double in size. You can buy a brand new home 20 minutes from downtown for under $250K all day long here. Those will be $350K+ 5 years from now in my opinion.