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All Forum Posts by: Matt Stricklen

Matt Stricklen has started 39 posts and replied 217 times.

Post: $ome numbers to quantify the squeeze on Austin buyers

Matt Stricklen
Pro Member
Posted
  • Investor
  • Austin TX
  • Posts 224
  • Votes 152
Originally posted by @Zachary Handshoe:

@Matt Stricklen This situation makes it even more difficult for people just getting their lives started in the area. How does the local investor, or college graduate compete with powerful out-of-state money? Looking for advice here.

Hi Zachary,

the most viable strategies right now are probably 1) house hacking and 2) pooling resources in joint ventures.

if you haven't already. You should reach out to @jordanmoorhead for excellent guidance with house hacking. 

best of luck

Post: $ome numbers to quantify the squeeze on Austin buyers

Matt Stricklen
Pro Member
Posted
  • Investor
  • Austin TX
  • Posts 224
  • Votes 152


Originally posted by @Brian Garlington:

Hold on now. Y'all can't be complaining in Austin, Texas about "California Buyers" coming in and destroying the local market for the Austin folks. There have been countless threads here on BP by Realtors in and around the Austin market bragging about how many people and companies are leaving California and coming to Austin and how this is so great for Austin and Autin is "the place to be",...etc, etc. 

Lot's of Realtors posting and encouraging MORE people from California...(specifically San Francisco and the Silicon Valley) to keep coming to Austin......

Now y'all are complaining about the result of what it is causing to the local Austin investors?   

Please clarify this.

Clarification: 

1) it's a discussion.

2) don't assume all realtors or all people are represented by something you've seen in this, or other discussions. 

3) it's a multifaceted world in which we can have the humanity to consider our neighbors as well as our investments, and that is a worthy topic of discussion. 

Post: $ome numbers to quantify the squeeze on Austin buyers

Matt Stricklen
Pro Member
Posted
  • Investor
  • Austin TX
  • Posts 224
  • Votes 152

Value will eventually drop when there is a tent city in every culvert and overpass. 

Post: $ome numbers to quantify the squeeze on Austin buyers

Matt Stricklen
Pro Member
Posted
  • Investor
  • Austin TX
  • Posts 224
  • Votes 152
Originally posted by @David Ward:

@Matt Stricklen That's ridiculous they are absolutely destroying the Austin housing market. My question is why don't they just build?

 Thanks for chiming in. Despite the cost of materials, new build prices are very attractive in ATX compared to fixxer uppers closer to the city. That's showing up in the price squeeze too. In the last few months new build communities have gone to the " submit highest and best..." Cali is snatching those up too. And vacant lots are hard to find - managing that and scarce contractors from afar- probably easier just to plop that extra 200K on the table. 

I think you're right about it destroying the market. it will be bad for everyone, investors included, if working people can no longer afford to buy a home in this city as has been seen in San Francisco and elsewhere. 

Post: $ome numbers to quantify the squeeze on Austin buyers

Matt Stricklen
Pro Member
Posted
  • Investor
  • Austin TX
  • Posts 224
  • Votes 152
 @Stephen Stokes:

Please clarify. My post was about down payments. Is there a connection you were wanting to make? If you just wanted to post about today's mortgage rates, maybe that's worthy of its own post.

Post: $ome numbers to quantify the squeeze on Austin buyers

Matt Stricklen
Pro Member
Posted
  • Investor
  • Austin TX
  • Posts 224
  • Votes 152

The  out of state buyer is coming to the table with $200k to leverage against the locals. https://www.kvue.com/article/m...

Post: Investing in South/South East Austin (zip code 78747)

Matt Stricklen
Pro Member
Posted
  • Investor
  • Austin TX
  • Posts 224
  • Votes 152
$2100


Originally posted by @Surya Ghatty:

@Matt Stricklen how is the rental

Market there in those neighborhoods? What does a 2000 sq ft home rent for?

Post: Investing in South/South East Austin (zip code 78747)

Matt Stricklen
Pro Member
Posted
  • Investor
  • Austin TX
  • Posts 224
  • Votes 152

I'm in a similar neighborhood about 2 miles away. 2 of those 300s in my hood sold for $440 this week. 

Post: Bummer- unhappy place to live

Matt Stricklen
Pro Member
Posted
  • Investor
  • Austin TX
  • Posts 224
  • Votes 152

San Antonio among unhappiest places to live? 

https://news4sanantonio.com/ne...

Post: Austin condos - Rental Potential

Matt Stricklen
Pro Member
Posted
  • Investor
  • Austin TX
  • Posts 224
  • Votes 152

PS your sway in a 2 unit condo HOA might be a plus , as Boston @Andrew Freed said in his point 3 above.