Anyone in Austin, TX?

[Celso Rodriguez]

Hi all,

I just started reading the BRRRR book by Biggerpockets and would be interested in starting in the near future. I've been looking at off market properties in Austin TX and the surrounding areas and have seen that due to the high demand so to speak in this area the prices for a BRRRR property would mostly be around $300K or more, with the exception that I've seen a few properties in the low $200Ks. Considering Austin is not a cheap place for housing, would it be normal to pay over $250K+ for a BRRRR property? Has anyone in Austin been doing this recently? I'd like to hear your thoughts.

Thanks!

[Ryan Kelly]

@Celso Rodriguez BRRRR works great in markets where you can buy homes around $200,000 or lower. The higher you go in price, the ratios get too hard to make it work without leaving as much money in the deal as you would a standard down payment.