All Forum Posts by: Beau Fannon

Let's start with your budget and what part of town you work in. That'll determine your neighborhood.

The economic driver's in Killeen are completely different than those here in Austin. If that military base is closed, Killeen will be a wasteland of rundown houses and very full pawn shops. 

I'm sure you're thinking that the growth in Austin has already spread 30 miles past it's borders and Killeen is only 30 more so surely they will grow together.  And you'd be right, in 30+ years. 

The path of progress in Austin is up. Eventually we will get a new zoning rulebook here and our residential buildings will start going vertical. Knee surgeons will be in high demand for all of us will live in 4 story homes. 

Adding rooms and kitchenettes is a totally different ballgame from renting out a single family room by room. 

You want to rent out a single family room by room, just add the appropriate locks to the doors like any rental requires. 

You want to add walls and kitchenettes, go stand in line at the permit office.

Now since I highly doubt you are going to go the route of adding walls and kitchenettes to a single family, let's talk about the lease that would govern a room-by-room rental in a single-family. I can speak from personal experience and tell you that renting out room by room to a group of people is going to have issues. Traditional lease isn't going to cut it. You should consider signing a lease with each individual and getting their deposits.  Students are a mercurial lot. If you sign a lease with a group of friends and then they have a falling out two months later, it's not uncommon for one or two of the friends to just disappear. There's no way you can expect the leader of the student friends group who signed the lease to get everything covered to your liking or requirements. Do individual leases. 

I can tell you that their plans for several roads in South Austin are asinine. 

I'll dm you some info. 

I love the building permits chart 😍

Depends on the season. April to August should go quickly. Couple of weeks if you're matching the market. September to March, well, I've had some go fast and others linger on for 45-70 days.

Pricing, timing, location, competition, offering, and luck all play a factor. 

Hi @Jessica C Molloy.  @Jordan Moorhead knows what he is talking about. Keep it simple on your first rental. There will be a big enough learning curve to keep you busy without all of the other BRRRR stuff.

I'm an agent in SW Austin. If you are near that part of town, I'd be happy to grab a cup of tea and show you how I integrate the BiggerPockets calculator into my deal analysis process.

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