All Forum Posts by: Dan Burstain

2020 CENTRAL TEXAS INTERNATIONAL HOMEBUYERS REPORT

Those who follow me have heard this a lot but just trying to educate as much as possible.  Just because something goes up, does not always mean it must come down.  As Roy and others pointed out, investing in different areas of the country, or in Texas, brings different working strategies.  For example, 83 out of 100 economists Zillow interviewed said Austin is the best place in the country to invest.  Guess what, if you strategy is to maximize cash flow, it certainly is not the best place to invest in the country or even Texas.  However, if you are looking to maximize return on investment, it would be hard to find a better place to invest than Austin.  Understand what your goal is, and then those of us educated in real estate can tell you if their market is ideal for you or not.  I have looked at 40 years of data and look at monthly and weekly data all the time and can tell you if you are counting on Austin prices coming down because they have risen nicely the last 5 years, you will be waiting a long long long time.  

Alia, the time to buy in Austin is now.  Prices and interest rates will only go up.  That is not a sales pitch, that is 40 years of data.  We are at a 30 year low in inventory and rental home availability is down 30% from last October/November.  That is why Austin continues to be one of if not the top city in the US to invest in.  The numbers look great for many years to come.

Hi Mike,

Keep in mind there are only a few builders who are accepting investors.  Obviously resales work and you certainly can find plenty in that price range even just built in 2017 or later.  

Step 1 - Learn your financing options (House hacking, USDA, hard money, 203K, etc)

Step 2 - Find an experienced investment oriented Realtor

Step 3 - With an safe city like Austin to invest in, jump in sooner than later.  Doesn't have to be the deep end but jump 

Good luck.  You are starting much earlier than most and all the older people say they wish they would have started earlier.  

The next Austin is Austin.  Look at the average sales price for Austin over the last 40 years.  A continuous steady climb.  No roller coaster rides.  You can still buy a brand new home 30 minutes from downtown or 15 min from Apple, Amazon, or Tesla upcoming properties for well under $300K.  

Nice job.  1st one is always the hardest.  If I had a nickel every time one of my investor clients said I wish I would have started earlier....well I would be retired.  So congrats on getting in the game of early retirement.

Best return on investment would be Austin.  Plus it is probably the safest bet as well with priced dropping no more than 2.9% in its history and 1.9% during housing crisis.  We see those gains now almost monthly.  

The most prices in Austin have ever fallen is 2.9%, in its history.  Prices fell here just 1.9% during the housing crisis!  I think the time to buy in Austin is now and that statement has been true for 40 years and will continue to be true, in my opinion, for another 40.  We have a huge government and university job base that keeps us out of any big dips.  Can't say the same for most cities across the country and even in Texas.  The inventory here in Austin is extremely low so if you see something available that you like, grab it.

Got my MBA out at Pepperdine out there and then decided to move to Austin. Sold my duplex in Long Beach in a 1031 exchange that allowed me to pick up 4 investment properties here in Austin. Property taxes are higher but balanced by no state income tax. Tremendous appreciation/ROI potential with no rollercoaster effect here in Austin because of a huge government and university job base to go along with tech and future medical.