All Forum Posts by: Michael Tuck

Just bought a duplex in PCB, FL. Wondering if there are any other investors in this area that want to meet up

@Michael Walker

Currently deployed. Will be home in about a month. More than happy to meet for a beer.

@Ryan Kelly

Thank you for the input. Just wanted to make sure I'm not missing something huge before I begin my journey. But it seems as if my math was correct according to what you, and others, have said.

@Steve R.

I'm thinking that's the only metric people in austin are making purchases off of: appreciation.

At national average, that price should increase $27,500k in a year. If I could afford to float the negative cash flow for a couple years id make the purchase. But I'm not there yet.

@Stephen Stokes

I checked that property out. It's at $280k plus needs full blown rehab, probably $75k after paying for permits in Austin. Rent for that area is about $1800-$2000 for a 3/2.

Maybe I'm looking at it wrong? It's about 4 miles from where I have a brand new 3/2.5 that would bring in 1900-2100/month.

Hello all, first post for me.

Does anyone know how to apply this rule to the Austin market? I've been looking for months and can't find anything that even touches 1% on austin. Or any other major market for that matter.

For example- my home is worth 350, and rent in my area is 1800-2100. Even at my original purchase price of 250K (4 years ago) I wouldn't meet that.

@Mark Burn

Hey mark, sorry about the situation. I'll have a 3/2.5 in south austin for rent in about 3 months. I'll be house hacking it, so the master and one other BR with shared bath will be for rent. I I'm looking at getting into investing in other properties soon and won't be home much due to my full time gig.

Maybe we could help each other out?? Let me know if you want to chat.

I used to have an office in Jonesboro (about 4 years ago). Recently decided to look at some properties in the area and liked what I see. Hoping to find a good deal in the area when I get back from this deployment. 

Hello all,

first post here. I live in Austin and was wondering the same thing. Luckily I purchased 4years ago. Looking to use my heloc to purchase a multi family property soon (VA lozn). Finding a deal that works is hard while following investing rules. I've decided that I'm going to have to be ok with a slight negative cash flow for the short term, which I can swing.

@Neil- you are correct, unfortunately properties are selling over list price.