All Forum Posts by: Caroling Lee

In Austin, you do have to get a license for short-term rentals. When I first applied, it was a $285 one-time fee, it appears that has gone up in the last few years. They also have a limit to the number of STR licenses permitted in a particular area.

They also recently amended the rules and are no longer taking applications for 'Type 2' STRs, which are the non-owner occupied type.

Here's a link: https://www.austintexas.gov/str for more info.

Thanks @Joel Owens. I've spoken to a few agents and that is GREAT advice. With the short time frame, I'm quickly having to narrow and focus my search. Thanks again for the response.

Christopher Thompson I live in Windsor Park near the new Mueller development which is chock full of new restaurants, bars, and an Alamo Drafthouse. There's a weekly farmers market and miles of hike and bike trail that isn't crowded (yet)... Appreciation in this area has been great over the last few years. Possibly due to it's easy access to 35, 290 and 183 (where a tech corridor seems to be growing). I think you can still find a decent deal in this neighborhood. It will likely need updating but I've found that the homes and lots are larger than the ones found on the east side or even in established neighborhoods like Hyde park or Zilker. It's worth checking out. Search in 78723. I actually just bought a SFH in a 28 unit community on Manor by the edge of the park in a development called Franklin Grove. Not sure what you're looking for but you can check it out online. Happy to talk more about my area if you have questions, just shoot me a PM. Best of luck and welcome to Austin!!!

Hi BP!

Getting a crash course in real estate investing and 1031 Exchange and I'm finding that I need a Real Estate Attorney - stat! I'm partnering with my brother and sis-in-law (50/50) and we are about 2 weeks out from closing on a land sale. Currently, we are in a partnership with our 2 cousins, but that will be dissolved as soon as the sale is complete.

Since we have to identify a replacement property within 45 days, we've decided to join forces and purchase the next investment(s) together. 

Is there someone that this community would recommend who could help with establishing a business entity (be it a partnership, LLC or something else I'm not aware of) so that we can buy and sell real estate investments in a smart and careful way? I am assuming that we'll want to acquire more properties down the line and will likely utilize 1031 Exchange again.

Ideally, we would want to start working with someone pretty soon as we also need to identify property quickly, get pre-qualified with a lender and hopefully, close on a property in the next 2 months or so.

I'm assuming we want to have our partnership details established before doing all that.

All suggestions and advice welcome for this newbie!

Thank you in advance!

Caroling

@Aaron Gordy - sending you a PM.

@Jacob Pereira - I'll shoot you a PM to get the contact info for Shaina and Robert Moats. Thank you!

@Tyler Roicki - thanks for the reply! I'm looking at San Antonio because it seems like Austin might not be able to offer good cash flow anymore due to high prices. Would love to have a quick call to chat. I'll shoot you a PM.

@John R. Hernandez - I found this thread and I'd be interested in chatting with you about duplex, triplex, fourplex properties in the San Antonio area. I'm closing soon on a 1031 Exchange so need to find something in 45 days.

@David Ivy @Dan Burstain @Travis Marshall

I'm looking for an agent to assist with a MF investment in the Austin area (open to San Marcos, San Antonio, basically anything within a 1 hour drive), to invest some funds from a soon-to-close 1031 Exchange. Can you help?

@David Thompson @Guy Gimenez - do you have a link to the meetup groups you would recommend?

@Kristina Pearson, @Lance Adams, @Account Closed - I'm looking to invest in a duplex, triplex or fourplex in the Austin (greater Austin) area for cash flow and to buy and hold. I've got funds from a 1031 Exchange and need to find something in the next 45 days. Would any of you be able to assist?