All Forum Posts by: Allison Stewart

I'm not sure what people are talking about here but this is how we started and it works wonderfully! We've done 2 house hacked duplexes now. The first cash flows $900 a month - so I'm not sure why people are saying this isn't a good option or that rented duplexes don't cash flow here. We both both our duplexes on the MLS too. Both have appreciated significantly. We expect to cash flow about $600+ a month when we move out of our current duplex.

I’d strongly recommend this to any first time buyer! It’s true they don’t cash flow when you’re living in them but we live for free in our current place. Can’t beat that in Austin! 

You won’t be able to find a home for under $300k in N. Austin. You might be able to find one in Cedar Park, but Leander is more likely. 

But rentals on a SFH in those areas is also cheaper so your opportunity to cash flow is less.

Have you considered a duplex and possibly house hacking?

We always give tenants notice to vacate when we buy properties, especially if they are on month to month. I loathe inheriting tenants - we haven’t had good luck with any inherited tenants. Your best bet is not renewing their lease and finding tenants that you vet yourself (especially if one isn’t paying rent already).

@Nina Hayden I wouldn’t expect those numbers to change much as consumers still lack confidence in this re-opening strategy, since it’s not evidenced-based. They will kick people off unemployment, for sure, but that won’t help the economy.

@Joe Scaparra ha, I just read where you said "don't ask me for my contacts" - so never mind. I've been plenty determined - and I have a great guy who will do a surround/tub installation for cheap. Tile, flooring and counter tops are more of an issue for subs for us. I've gone through tons of tile guys - tile guys who don't show up, tile guys who do show up but are drunk, tile guys who show up but are too busy to ever book them again. It's quite annoying. I found one that is a good tiler, reliable and works fast, but he charges $1200 for a surround. There are tons of them here but most aren't worth hardly anything, IME.

@Stephanie Simmons do you do renovations in Austin? I agree, it's a lot to pay, but I haven't found quality tile guys who will show up here for much less. 

@Joe Scaparra yeah, I never hire a GC for that reason, but finding quality subs here is a real problem. I'd be interested in some of your contacts though - especially for counter tops and LVT installation. We generally do our own LVT installation so far because the prices people charge around here are ridiculous. Would it be alright if I PM you?

@Aaron K. Also, it’s not the material costs that get you. It’s the labor costs. I can source tile and material for a shower for $200-$300. But to get a quality tile install will cost me $1200+ for the shower. 

It’s been my experience in Austin that GCs that do high volume work de-prioritize small residential remodels, so you’ll be waiting months for your project to be finished. 

I was quite serious that I’ll take names and numbers - and even material suppliers - that will do this work for less. I’m looking to have some new windows put in and some exterior painting and landscaping done at some of my places and would love quality recommendations for affordable prices. 

For all y’all saying $30k is too much to pay for this renovation, can I get the name and numbers for your contractors and subs? We’ve done 4 renovations now on 1980s duplexes that were mostly cosmetic and the one where we couldn’t do much of the work cost more than this (but is a 3/2 unit). Those costs seem quite in line with our experiences.

I do agree though that 10 months is way too excessive. All of our renovations took between 3-8 weeks to complete. 

Hey Devin! If you want to do a duplex in N. Austin, your price would have to increase significantly and your numbers change a fair bit. Depending on the location, you may need to be closer to the $350K mark. I'd be happy to run you through some of our numbers in a PM if you'd like - I can also give you the general locations of our properties.