All Forum Posts by: Mike Walker

It's good to know your parameters when it comes to looking for an investment property. Rehabbing and/or building a property you plan to live in can work, if you and your family don't mind the stress/chaotic process involved. I've done both and can say it's not for everyone. It sounds like you're looking for a "retail ready" property for you and your family to move into.

The further from downtown you look, the better your chances are to find something within your budget. Smaller, older properties will be easier to find. Newer and bigger will take you out to the suburbs and country/smaller towns outside of Austin, for more square footage.

As Eric points out, you stand to gain some appreciation on the home you ultimately buy, since the Austin metro is well positioned for sustained growth over the next couple of years. Even if you rent for a time, you should make it a priority to locate the home that meets your current needs, then you can decide later what the best exit strategy may be for your REI goals.

Chris,

Both Jon & Eric are right about the Austin market. It's a great city and very popular with people moving in from all over. You may want to rent before you buy. That way you give yourself some time to learn about the city and the variety of neighborhoods and price points.

You'll definitely have to shop hard for a $175k deal. Older homes in established neighborhoods, in need of updating/repair, maybe a good option, if you don't mind the rehab process. I'm working on one right now and it's great fun to see it transform from an ugly duckling to a contemporary, cool place to live.

I was recently in Houston during 5 o'clock traffic on a Friday. I'd rather fight it in Austin any day! Best of luck to you and your family, as you settle in Central Texas. It's a great place to live and raise a family.

Welcome Justin!

BP is a great community and informational resource for both residential and commercial investing. Read BP's blogs, posts and listen to the podcasts. Also, setup a keyword alert for "austin" and any other REI keyword that might interest you. You'll gain a ton of free knowledge in the process.

Austin has several REI networking meetups/meetings. You should definitely attend one or more. Every Thursday at 11:30 AM, there's a group of investors that meet at Big Daddies (Burnet Rd & Research). There's also a montly unofficial BP meetup the second Wednesday of the month @ 10 AM, Starbucks inside the Randalls, 3300 Bee Cave Rd.

There are definitely wholesalers working the Austin market. You can network with them here on BP and at the REIA meetings.

Best of success to you as a new agent and investor!

Welcome Amy & Eric!

BP is a great resource for networking locally. We have a monthly unofficial BP meetup at the Starbucks inside Randalls, 3300 Bee Cave Road, the second Wednesday of each month @ 10 AM.

The next meeting will be March 12. Come join us.

Thanks to everyone who attended our second BP gathering, in spite of the cold weather!

We'll be meeting the second Wednesday of March (3/12/14) at the same location. For any newcomers, there are two Starbucks in the same shopping center at 3300 Bee Cave Rd. We meet at the one inside of Randalls.

The group enjoyed talking with Lamar Cannon and Ariel Castro about their experiences as partners who wholesale on the east side of the city. Lamar was interviewed by Josh & Brandon on BP Podcast 031. Check it out!

We've had great group discussions about investing trends in the Austin metro. Mark your calendar for March 12!

Christopher,

There is an unofficial monthly BP group in Austin. You just missed our second meeting. It was held yesterday.

We meet the second Wednesday of the month, currently at the Starbucks inside Randall's supermarket @ 3300 Bee Cave Rd, 10 AM. Jim Sinclair and myself organized the group on the south side of downtown, since many of the REIA meetings are held on the north side. Hope you can make it to the next one on March 12.

You might also check out the weekly Mastermind REI Meetup held at Big Daddies @ 11:30 AM on Thursdays. That's a well attended weekly group of established Austin investors who network and aren't affiliated with any gurus. I recommend both.

There are also a couple of other monthly lender-sponsored REIA Meetup groups that meet on the north end of town, non-guru affiliated, equally worthwhile.

Hope to see you at one of them!

Kevin,

There's also a monthly unofficial BP meet up in Austin, the second Wednesday of the month @ Starbucks inside Randalls, 3300 Bee Cave Rd. We meet @ 10 AM. Hope you can make it!

Sandeep,

I focus on the S Austin to San Marcos corridor. If you'd be interested in doing a Buy & Hold via a Rehab or New Construction (particularly in San Marcos), let me know. I'm actively looking at both in the San Marcos area.

We have a BP unofficial meet up the second Wednesday of each month at the Starbucks inside Randalls (3300 Bee Caves Rd) @ 10 AM. The next meeting is Feb 12. Come join us, if you can.

Denice,

I worked on a nearby rehab in the 78721 zip last year. There's a fair amount of acquisition and fixing for both flips & holds near the 02 zip that you might want to check out. The 02 is highly competitive. You can find properties, if you connect with a wholesaler who farms that area. It's in high demand. Everyone knows it, since the city has invested in both river front improvements and it's the closest east side zip to downtown hipster activity (6th Street, etc).

Frankly, the whole east side is in transition from what was highly ethnic/lower income in years past to a vibrant, "hot" address for techies, DINKs, singles and those urbanites who want to be near the arts, jobs and "scene" that Austin is famous for. There's money to be made east. That's for sure! You may find your dollars stretch the further east or north you go from the 02.

My focus is on the south side down to San Marcos (the most southern 50,000+ college town end of the MSA). I can give you more detail/info about that area.

Sorry you can't make the Big Daddies Meetup this week. I can meet Friday morning. Perhaps, other BP members could as well, if you'd like. Let me know and I'll try to get something organized.

Hey Gary,

The weekly Mastermind meeting sponsored by Harold, Esmeralda & Jean is indeed a Great Meetup! Glad you got to attend. I try to get to it as often as possible. Lots of experienced investors attend.

Just so you know, we started an unofficial BP meeting the second Wednesday of each month. The location is Starbucks inside the Randalls grocery store at 3300 Bee Caves Rd. We meet at 10 AM.

We'd love to have you join us!