All Forum Posts by: Jeremy Wilken

I'd come by if I'm in town :)

This is some very practical advice, though I haven’t been interested in getting a place in town due to wanting to buy a rental a little outside of the city that we’ll also use occasionally. 

I wonder about the differences between having a place with a view of the water (it might be a second or third row home though), vs a place further back, vs a place on a canal. I’m trying to balance what I want vs rentability. Does the location matter most, are people looking for a home with nicer interior, or something else?

I live in the 4 points area, and think it’s a tight market. You likely have to bank on off market deals or long term appreciation. Lakeway is tricky with the city limiting STR to I believe 25 permits total, so be sure to check the municipal laws.

I'm interested in the market and opportunities in Galveston, and don't know where to start with getting the right pulse. I'm looking at both SFR and Multifamily. I know, it has to cash flow, but curious if anyone has any insight into:

* How to estimate insurance costs (flood, windstorm, and standard)

* How to best verify a property condition (considering the location)

* How to know good areas (some homes have been abandoned for years next to new builds, quality can be street by street)

* General tips or recommendations for what to look for, or look out for

Originally posted by @Account Closed:

 So it's all about a small group of people who know each other getting richer and richer while the rest of us don't have access. How exactly is someone supposed to invest when they are not already in with the rich people? And does this aspect of our society concern you at all?

One could certainly go at it alone and potentially do well, if you happen to make good decisions and have access to all the resources you need. It sounds like you are frustrated by not having enough resources (time, money, leads, etc). Building a network of people is a primary way to get access to these resources. I've heard a number of times on the BP podcast guests talk about the need to get to know active investors/agents/bankers/etc in the area, because you will learn so much more about your market and build relationships that have potential to make things happen. I don't think anyone gets "richer and richer" in investments on their own. 

Off market meaning they never end up on the MLS or listing services. Sometimes that means communicating directly with the owners, it might mean a broker connects people without listing, and a whole host of other methods, most that occur by knowing people.

I'm still narrowing down my range of what exactly I'm looking for, and using Loopnet and the financial information provided in some listings to get more insight into the numbers and how to analyze them. So far, I haven't found one that makes much sense, but I'm learning and refining.

I'm not planning to tackle something to the scale of a 200+ unit class A apartment complex, while it might be less risk it also means lower margins and I'm not interested in being a passive investor and I don't want to start there (unless the stars aligned somehow). I am also not particularly interested in SFR or small multifamily (under 4 units), but even between those two are many varieties.

Thanks @Bruce Petersen, I've looked up brokers but haven't joined any lists. Will fix that.

@Jason Carter I certainly got the sense that LoopNet (and other sites) are generally bottom of the barrel, though its a place to start when wrapping my head around things. I've joined a few of those meetups, but haven't yet attended. I have been spending a few weeks educating myself and trying to define my goals. I plan to attend one in the next week or two though.

I'm more interested in doing commercial real estate in Austin, which could be larger apartment complexes or business properties. I'm trying to research things online, but having a lot of trouble finding a lot of meaningful information. Most commercial sites show basic or limited listings (Loopnet), and want you to pay a fairly high price for proper access. Maybe someday that would make sense but I'm getting started. How have others found commercial properties in the area?

Hello all, I'm starting my journey in real estate and live in the Austin Texas region. I'm looking to get engaged locally and build a portfolio in the north-west region particularly, as I know it best because I live there. I'm interested in:

• Smaller commercial/apartment complexes. I'm not interested in owning a lot of smaller properties, I want a leaner portfolio.
• Niches. I think Austin is a great place for some interesting trends like tiny houses, niche commercial, and specialty communities. I really like the idea of getting involved with opportunities that can lead to a meaningful community.
• Minimalism. People have too much stuff, or make things more complex. The same is true of lifestyle choices, business plans, and relationships. Focus on what matters and leave the rest to others or clear it out.

Looking forward to getting to know more folks around here, and contribute back as I learn!