All Forum Posts by: Celine Crestin

Hi! Congrats on buying your first home in Austin. 

Both locations have pros and cons, but with Leander values skyrocketing and the longer commute to Austin, I'd probably vote for Pflugerville out of those two options. 

Are you looking at new builds or resale homes? 

As for market rent, you should be able to get whatever rental rate is appropriate for the size and location of the home. 

A 1031 exchange could work well, but I would recommend you buy outside of Austin city limits. Depending on how much cash you'll have and how much you want to leverage, you could get into several SFRs with cash flow and high appreciation gains. 

Ditto to what everyone else said, but I especially like @Ryan Kelly's comments above. 

You can take short term negative cash flow within Austin proper or if you're flexible with your area to invest in I have found investors cash flowing LTRs outside the city, as well as successful air bnbs outside the city. 

Mid term rentals are needed and may work for cash flow better than a LTR right now if you're determined to be in city limits. 

Congratulations! I love your mindset and I suspect you will see tremendous success! Best of luck and keep at it. :)

I agree with the above posters - hold both and enjoy the cash flow (which will increase over time as rents go up and debt goes down). If you insist on one of the options above I would go with option 1 and continue to enjoy the air bnb cash flow and allow the equity to grow more. 

I love what @Brian Mineau said! It will be important for you to select an area (or areas) to invest in and build a trustworthy team that is constantly working to help you accomplish your goals. Seek out like-minded people and make sure everyone has a clear understanding of your goals, budget and timeline. If you hire the right people, the rest will be simple!

100% - the best time to buy is always 10 years ago and that will still hold true for buying now ;)

 I agree! Cash flow is possible in the Central TX market as long as the investor is flexible and open to options. Within city limits for Austin it can prove difficult, but there are outside areas nearby with large appreciation gains expected where one can still cash flow while holding. 

@Dan H. thank you for that detailed reply! To me that sounds very stressful as a landlord and I would not like those restrictions. Yikes!

 I mean...who's to say? ;) It sounds like you already plan to rehab and rent the property you purchase; is that correct? Then refinancing is in general the same principle as applying for a mortgage to start with....What makes you feel this wouldn't work for your situation? (assuming you have enough cash to purchase something to begin with?) You do have to buy correctly to start with, but it is a means to get into a property and keep as little cash in it as possible while holding. However, with the amount you currently have I think you'd only be able to do one that way and then finance the remainder homes you buy.