All Forum Posts by: Prash Manohar

Tesla factory is in DV right? these places are still 30-40 min away from Tesla factory....

So I'm seeing homes go over 320K and new constructions for 1500 sq ft listed at 325-330K, for 2k sq ft ~375-380K near cedar creek, bastrop...is the market picking up there? any new trends or developments happening there?

@Raj SHa you can try east/south or South East Austin...Elgin, Manor, Del Valle (DV)...you can get something for 275-305K and you can pretty much break even with rents around 1400-1800 but u put 25 -30% down...however this part of Austin is not preferred due to low household incomes, poor schools etc....but DV is now new home to Tesla with 50% of employees to be within Travis County itself with salaries around 50K/yr typical blue collar jobs and these are ideal folks for long term rentals..plus google velocity/domain type mall under construction etc...plus there is huge possibility of Tesla suppliers moving here as well. Google Ari Rastegrar (billionaire RE developer) who is sponsoring massive development in this part of Austin. TBH I'm already seeing homes listed at 275K go for 300K plus and new constructions going over 310-320K...assuming you are from Bay Area ...so think of North Austin (RR, Leander, pflugerville) as your typical South Bay areas and SE Austin areas (DV, Manor, Elgin) as the next upcoming Fremont/Dublin..I feel several parts of SE Austin are diamonds in the dust now...risky play but high reward if you can hold for 10 years and a good tenant in place..

won't this take decades? first heard Velocity now this...

Hi Victor, I recently closed a SFH for ~ 305K in DV. Hopefully it works out. I am liking the area due to Tesla, Oracle, Applied Materials proximity. Since you are a local and have experience could you share more details about Velocity project, also any upcoming developments?

Thanks guys , how is Del Valle wrt crime and schools? I know Tesla is right in there but horrible school district. Is it possible to get tenants there?

Hi All,

Looking to buy a SFH in Del vale for < 300K as investment property?. Is it possible? Not looking for major cash flow but atleast breakeven and really banking on appreciation due to Oracle and Tesla. I found schools are probably the worst in entire Austin, so do they get occupied quickly by tenants? is the poor school rating a problem for family?

Do we expect to see more growth in Kyle/Buda as better schools there compared to Del Valle?

Thanks

Hi all, lost 7 offers in north Austin last 45 days despite going 20-25K over asking..on SFH. My agent is indirectly forcing me to explore south -Buda/Kyle, what do you guys think of long term appreciation and renters? More vacancy rate compared to north Austin? is it equally horrible down south?

@Bob Norton thanks, still not clear. We file taxes jointly. My AGI is > 150K, my wife's is 100-150K, combined household is > 150K, so if the rental property is owned by my wife, would she be able to qualify for the 25K to offset rental property losses against just her income ?

@Bob Norton my wife's AGI is < 150K. If she owns the rental property so could she deduct losses against her regular W2 income? Also does the 25,000 limit apply to individual rental property or is it for multiple properties? We both file jointly. I know for a real estate professional even one person could claim losses against entire household income.