Austin Market ? Too hot to invest or just right ?

[Diana Martinez]

Hi- I’m living in Austin, Texas and have about 30k saved up for my first real estate deal. I also have about 120k in equity on a property I house hacked and bought about 8 years ago. I’m nervous/scared to take the plunge (long-term rentals) Because I have a one year old now and a family. My question is: if you were in my shoes would you wait to invest in austin market or invest ASAP? The offers I have put in have all been declined due to better offers. TIA!

[Spencer Keane]

@Diana Martinez I just bought a duplex in North Austin area. Yes, prices are a little strep right now but I don't think it is too hot. I did it basically to get in the door but have one other property like you as well. Zillow estimates areas could see 7% appreciation in one year, so if that holds true you can get your money back even after fees of selling, and I used 3.5% down FHA. I used Diego Corzo who is very active on BiggerPockets if you are still looking for an agent