All Forum Posts by: Joe Zhang

@clay Manship, congrats! 30% cash on cash is awesome!

I went through the "austin is hot" thread. I am so excited about the Austin and wish I had read the posts earlier.

I live in Austin. I have been investing in SFRs in Austin since 2009. I will be closing my #12 SFR in NW in a couple of weeks. All of my holdings are in NW Austin.

I am thinking to expand my portfolio into south 78745 and the east of Austin closing to downtown where I heard is very hot right now.

I am also thinking to acquire land/lot to build and sell. I heard that the construction cost is around $80/SF that seems to be pretty high, if including the land and other costs, the total cost will be easily above $110-120/SF in NW area. Considering the time, money and risks I put in, I am not sure if building new is worth it. I read some article that the average profit for a builder is less than 7% nationwide, is it true?

@Jon klaus and @Bryan Hancock, I have been following your posts, you guys have done awesome jobs in Austin. I really want to learn from you. You have been buying lots and building houses in Austin for a while. What's your profit criteria for a project? 10%? 15%? 20% or even higher? do you build single family or multi-family?

Thanks!

Joe

I am new to the BP, and found this place is so informative. I already learned a lot.

I am a buy & hold investor. I own more than 10 SFRs in Austin TX. I started investing the RE in 2009. The next goal for me is to involve in multi-families, small commercial properties and land or even rehab ....the goal is to improve the NOI and profitability...

I feel Texas is a good place for real estate in next years (maybe decades!) considering the job growth, population growth and unlimited land supplies. And Austin is on the top of Texas.

@Will Barnard

Thanks for the post. I am looking for wholesalers for my next purchase. You post is a good education to start with for me.

Hi, Andrew I am in Austin too. Most of my properties I bought were from the MLS . I got a few really good deals listed on MLS a couple of years back. There are still deals now but the bid war is fierce. A good deal will attract more than 10 offers, even 20. So I am thinking to look for properties from wholesales, or auction site, haven't succeeded yet

Originally posted by Joe Gore:

Joe,

PM me your contact info.

Joe Gore

Can't send PM

my contact : [email protected]. shoot me an email, then we can talk more

Joe Gore,

could you give me more details?

Hi, Jeff,

Thank you for your reply. The cap rate I am looking for is > 15%. Ideally > 20%

I have been investing in RE in the last several years. I own multiple rental properties now. However, while the market are getting hotter, the it has become harder and harder to find reasonable deals on MLS. I am thinking to pass on the MLS and find a wholesaler for my next deal. Where do I start with?

Any suggestions?

I am living in Austin, Texas. For now, I only want to invest in the central Texas area.