All Forum Posts by: Eliza Sprague

That's good to know @David Brent, I hadn't heard that before! Do you have a sense of the size/number of units a property would generally need to have for a lender to potentially ask for proof PM? Is that for 50+ or 100+ units or have you seen that for smaller mid-size multifamilies as well?

Afternoon! Is there another one of these coming up in January or February? My fiancé and I will be moving to the area this month and would love to attend the next one!

1. Network - build relationships and reinforce them so that people a) know what you're looking for, and b) bring deals to you when they have them

2. Direct Mail/Set up a pipeline - Buy or build a list and send out letters/make phone calls, tracking your progress/success rate over time so you can tweak it as needed. 

A couple of links on direct mail (there are tons more out there than this but these two came to mind):

- Mark Ferguson's YouTube video called "How to Buy Off-Market Properties Using Direct Mail"

- This BP forum post from a couple of years ago: https://www.biggerpockets.com/...

Agree with the previous responses. The competition has absolutely gotten intense over the last few years, but whether that competition is irrational depends on 1), the economic factors in a particular area and 2), the potential of a particular investment within that market. 

My partner and I moved from New York to Austin a couple of years ago, largely because we were more bullish on Texas and the Hill Country in general. New York and Austin both experience insane competition, but we believe Austin and Texas have healthier economic fundamentals than New York that will produce more wealth over the long term. The fact that competitions is intense has for sure made it harder to find deals, but doesn't necessarily indicate that the competition is irrational. To @Russell Brazil's point, this is a highly desirable area and that is driving up the demand.

The factors that contributed to Austin's growth (Texas' business- and real estate-friendly environment, large companies setting up shop here, huge influx of population largely from the coasts) are still in place and seem likely to continue for a while longer, which should provide some protection against any state-, nation- or worldwide correction that takes place. 

Awesome, thanks @Joshua Puente! I'm officially signed up:-) Looking forward to it!

Sorry to miss this - my fiancé and I are moving to the area next month and would love to attend the next one!

Hi Bryant,

I imagine the level of strictness would vary from county to county. I've seen some tri- and four-plexes zoned as duplexes where the city didn't seem to have an issue, so I assume in some places they are grandfathered in based on old zoning laws. Always worth confirming with the city/county though, just in case. Do you mind sharing which county you're looking in?

This sounds like a fantastic opportunity, my partner and I would love to come to this! Adding to my calendar now!

Just started looking in the Austin - San Antonio corridor and New Braunfels looks like a great option!

Quick question - what is the risk of flooding in the area? It looks like there have been a few cases in the past, and parts of the town are in the floodplain, but is the risk high enough where flood insurance is necessary/required?

@Dmitriy Fomichenko, thanks so much for the links! I'm happy to be here:-) I am working my way through the podcasts and will definitely get on the local forums today as well.