All Forum Posts by: Kamrava Pirouz

@Joe Scaparra Appreciate the thorough response. The RICE model helps me think in a more organized matter. 

I would choose appreciation over cashflow because of Austin's great appreciation potential. In other cities, I would probably prefer a cashflow strategy. As Austin grows, so will rent prices and cashflow. 

R - I have 20% down payment on top of emergency funds. 

I - I have no debts except basic living expenses on credit cards (groceries, etc.) I can pay NY rent  ($1700 - $2200) on top of Austin mortgage.

C - Credit score is 769. Trying to get it above 780. Already spoke to a lender regarding interest rates, etc. Leaning toward a 15 year loan - would prefer negative cashflow over the extra cost of a 30 year loan. Will raise rent prices with time. 

E - I'll have 20% equity with the 20% down payment. Don't think i'll be able to buy below market in Austin. 

If I were staying in Austin, I would 100% buy a duplex & house hack per your advice, but since I'm looking for a place built in the 2000s, a Duplex would be too expensive for my budget. Maybe I'll get lucky. 

I really don't want to miss Austin's appreciation. 

@Stephen Stokes Open to your thoughts as well. 

@Nina Hayden I meant homes that are already built, 2010 or later, so I wouldn’t interact with a builder. If they are in a location with upcoming developments and good tenants, why is strict appreciation a bad strategy, especially in Austin? I’ve spoken with my realtor already but would like more perspectives since I’m new.

@Joe Scaparra, @Nina Hayden Thank you for the advice, transparency is always preferred. I wish I began investing years ago in Austin with a house hack. My move to NY was delayed due to the pandemic. Thing is, Austin is the only market I somewhat know, and I don’t have the money to invest in New York (does anyone?). So I either have to buy now, or wait years until I leave New York, and don’t want to be in my 30s without property. What if I purchased a newly built or newly renovated home in a neighborhood with good tenants? That would reduce the hassle substantially, even if I’m in another state, no? Why is appreciation a bad strategy in this case? I may not need a property manager if it’s only one property. I have more reserves now than a few months ago. Already spoken with a good lender regarding my options. 

@David Chappell @Jacob Pereira @Jordan Moorhead Thank you for the tips. Full disclosure I am already working with an agent but of course I’ll consider good advice from ya’ll. 

I know betting on appreciation isn't the best general strategy. However after a lot of thinking, I realized I would regret not owning a home in Austin before my move to NY. Still a lot of room for growth. I'm looking at areas near Domain, soccer stadium, Apple campus, Pflugerville, and Manchaca. Thoughts & suggestions? 

This will be my first home. 

Any insight is appreciated. 

@Bryan Noth Thanks for the insight. I'll check outskirts of Austin for SFR. What is the right multi-family strategy in Austin? Fix/flip one side while living in the other? Ideally I would BRRRR but I don't think it's plausible long distance.

@Ray Danishyar I do not have a high net worth (yet). I considered Jersey but taxes are too high. What is the right strategy for Long Island investing? Happy to chat on the phone if it's easier. 

@Kris Wong Thank you as well. What amount of cashflow would you consider "worth it" for a duplex? It will help with my calculations. 

Hi everyone. I'm moving to New York in 2 months. Of course I can't buy anything there but would like to own property before I'm 28 (26 now). I know Austin has a bright future and I love the city, so I'd like to buy something here and manage it from NY. I'm open to investing in other cities, let me know your suggestions. 

I'm curious if there's a flaw in my strategy: Buy a duplex with existing long-term tenants that has decent cashflow and room for renovation. This way, I can immediately begin collecting cashflow from NY, and eventually come back to oversee a fix/flip. I need at least $200 cashflow per month after property manager's cut. Appreciation will be a bonus and I don't see Austin depreciating in the next 5 years. 

I've heard people say Austin is not a good place for multi-family investing right now. Why is this? Should I be using the same strategy on a single-family home instead? Any other advice on long-distance investing?

Thank you 

Hi. I've lived in Austin for 4 years and am moving to New York by July. As much as I regret not buying 3 years ago, I think the appreciation opportunity here is far from over and will outweigh taxes and inflation (Am i wrong?). 

I'm considering buying a duplex with existing tenants to not miss out on Austin's appreciation, get a little cash-flow, and remodel when I eventually move back. 

Simply collecting rent from out of state doesn't seem like a hassle, especially with a property manager. Is this as easy as I'm thinking?
 
This would be my first home purchase. 

Hey all, I graduated college a year ago and moved to Austin a couple of months after. I wasn't aware of the Austin market until after I had actually settled here. For the past few months I've been eager to begin my real estate investing here in Austin. However, I'm not sure if the market is still as promising as it was 2-3 years ago. I've been skimming Round Rock and Pflugerville, both of which seemed to have potential, but I was later told by a few friends that right now is not the right time to buy.

My goal is rental + appreciation. 

Any suggestions? 

Also - would love to grab a coffee with a local investor!