All Forum Posts by: Mike Austin

Hi,

I'm a new investor and have been browsing for my first investment. I have what might be a dumb question. The properties that I have come across in my area are pretty price inflated. Who buys these properties and why? The cash flows are all negative, and the rents are already at market rates. Is there something I'm missing? Somebody must be buying these up if they're able to price them this way, right?

I'm browsing MLS based sites... is that the problem? These are retail, and not investments?

Thanks!

Hi Jason, I am also new, and in Austin. I am looking at investing in the surrounding areas, and will be focusing on multi-family. The market does seem inflated to me in Austin as well but I don't have any experience to base this on besides conversations with friends. Best of luck!

I just wanted to mention that the font rendering for the website is very poor in Ubuntu Linux. I don't think this affects very many people, but the fonts are difficult to read on that operating system. Might consider checking it out.

Hi, I just want to express interest in this topic since i'm in Austin as well and just starting. I'd like to hear from others what their thoughts are on the market here from the buy/hold perspective.

@Nathan Gogo Thanks for your reply! I did some reading and you're right. 

The best strategy, based on my limited access to capital, seems to be to acquire as large of an asset as possible using an FHA loan, and use a conventional loan for a much lower cost second+ property. I only have 20k of capital to start with so I'm trying to stretch that as far as I can without having to look at immediate refinancing.

Does that sound like a reasonable path to anyone reading? Large as possible leverage using FHA start, and lower cost there after... obvious big assumption that all properties are profitable.

Thanks! I will take a look!

Hello,

This is my first time posting. I live in Central Texas and am just starting to learn about REI. I am planning to use an owner-occupant(fha) approach to acquire my first multi-family unit.

I was hoping someone could answer a couple of questions for me. How long would I have to wait before I could finance a second property in the same way? Would I be able to get a second FHA loan?

Thanks!