All Forum Posts by: Lynn Currie

@Jon Crosby This is really great stuff. Are you pulling email addresses from the platform to send or are these direct bookings? We're doing a similar process manually but I'm always looking for better, more efficient ways to run things.

@Jon Crosbycan you talk a little more about what you automate with Mailchimp and Zapier? I feel like I'm always on the verge of getting a Zapier subscription but have never actually pulled the trigger.

@Nancy Bachety are you happy with the YourPorter site experience? I'm considering using their site tool to export one, but I'm also considering having a WP site with a booking plug-in built instead.

@Remone R. I'm sorry to hear that, thanks so much for letting me know.

@RJ Garrison

Austin can be a tricky market for rentals but it's completely possible, especially if you look to the suburbs. When you're running numbers remember that Texas has no state income tax, so our property taxes are higher. You absolutely have to factor those in to all of your cash flow projections..

I agree with @jordonmoorhead, the gigafactory is going to be great for that area and there hasn't been a lot of great development in Del Valle, where it's going in.

Since you are going to work there, look at Bastrop. It's a beautiful area with a lot of pine trees. If you're open to driving on the tollway, look up and down 130 it'll let you get you to work quickly.

@Mallory Thompson find a couple of regional lenders and reach out to them and see what the requirements are. As others have said there will be a requirement for a personal guarantee and the bank will want to look at financial docs before lending money. Lenders will give you a term sheet and help answer your questions. If you know some folks in the area that do the same kind of projects, ask them their favorite lenders are.

Remember loans are commodity market. Different lenders offer different terms, and different lenders have different lending goals. You might find one lender that says they're not loaning to investors. That's not necessarily an indication of what the other banks will be willing to do. You just need to make some phone calls and ask around.

@John Hamilton talk to some local folks about why they buy and what they buy. Maybe the strategy is an appreciation play, not a passive income play. Also remember we're in a weird time in the housing market and understanding how that's affecting Colorado Springs could be very important. For example, are you seeing Covid related bumps and are the multiple offers related to the current hot housing market? Are there multiple offers because it's the summer selling season and traditionally the market slows down and house prices drop X percent once that's past?

Normally I would say find some active local meetups, but most of those probably aren't being run right now so I would say find some local FB groups where people are talking about your area.

Overall though, go by the numbers. Figure out what makes sense for each property and stick with it. Don't make emotional decisions just because the market is hot UNLESS it works for you in your specific house hacking situation and you're okay with that.

@Vik J.

There is a lot of growth that direction. Housing is more affordable on the outskirts of the city, tech companies have been there for years so lots of folks live out there and have been moving in that direction, the highways are built up, companies and developers can build outside of the city limits where it is easier to build and get things approved, etc.

Personally I think it's a stretch to call it a second downtown. I'm guessing that won't stick, but rail out there makes sense for sure.

To answer your question about who benefits? Mostly north Austin and surrounding suburbs. We have one other line that also is north Austin focused that goes to downtown (fun fact, you can't even get to the airport on it)..

Austin needs a good transit system. We've never really been able to get a full system approved on the ballot, so we're getting it in piece-meal parts. What we have is incredibly flawed, but it's a step towards some sort of transit system so we will take it.

Hi Jeff,

I've done something similar to what you're talking about. Started with a small office space, originally purchased as an office for my company. When we outgrew it, rented it out and bought a bigger one and moved our offices there. The larger building houses my business and we also rent space in it to others.

The office market has definitely taken a hit in the last few months. I think what's to come is yet to be determined. I see some local economists saying it's going to recover quickly, my gut says we're not going to be so lucky. Not that office space will necessarily sit vacant, but market rates might drop significantly making it an undesirable purchase. 

The commercial properties I've looked at in Austin over the last few years have not excited me. Without buying to house one of my businesses, which enables me to justify value differently, makes it really hard to make the numbers make sense when you talk about purchase price + property taxes vs. rental rates.

So what to buy? Personally, I've moved outside of Austin for commercial. I've invested in a property in SA that was purchased by the anchor tenant, I'm under contract on organic farmland that is being purchased for a farmer to rent back from us to grow crops, I'm looking at some land development deals, and of course I'm still doing spec residential new builds (which is my bread and butter).

Happy to discuss if you ever want my input. You know where to find me. 

@Kristie Smith

I put something like this in the houses that are $450 to $650 s/ft.

Easiest way to figure out the expectations for your price point in your area though is to look at the comps. What are other houses that you’re competing with have in their master?