All Forum Posts by: Lynn Wise

I recommend Sara Foskitt! She is an attorney and escrow officer with Capstone Title: https://capstonetitletx.com/team.html#Sara

Yes, it's common. The seller would have to split it, and that might be more than they want to do. The best way to do it would be to figure out a way to buy it (maybe with a partner) and then create a condo regime after closing. Aaron is right that it's even more common in pricier areas, but I've seen lower-priced duplexes do it too. There was one for sale in Pflugerville recently.

Congrats!! Would love to see the finished product. 

I agree with Elliot!! Many duplexes in Austin have been split into two "condos" that can be bought and sold separately. That's great if your primary goal is getting your foot into an expensive market.

@Steve Garcia Regarding your question "should I target a lower price point" ... have your Realtor pull rental comps for the houses you're considering. As long as you have the down payment/closing costs, it really doesn't matter what price point you target as long as the average rental rates for the neighborhood support your purchase price.

Congrats! NB is a great place.

STR can be difficult within Austin city limits, but it's definitely a possibility in some surrounding suburbs. It can also be a great way to house hack even within city limits. I agree with Jordan that medium-term rentals can be a great option. Personally, for our long-term rentals, we're looking outside of Austin in markets with better cash flow. I've also had friends/clients buy homes that *almost* cash flow. They are ok with the loss because they are buying in areas that they think will appreciate long-term or because they are buying a home that they will eventually use as their primary residence.

Hi Moises! I have a listing that might be a great option for you. Sending you a pm.

I agree with Michael that buyers and sellers are not on the same page! I'm in Austin, and I'm seeing many sellers priced 10-15% above where they should be and unwilling to negotiate much, so houses are just sitting. I'm thinking part of it might be because some sellers bought before selling. They were counting on their home selling for a certain price and aren't willing to accept where the market is now. I'm just curious where the market goes in the Spring ...

Austin, TX! Realtor with experience in flips, BRRRs, short- medium- and long-term rentals