All Forum Posts by: Renee Burke

@Richard Sherman Yes, these are internal walls. Thanks for the estimate. The group is awesome!

@Lexi Teifke Nothing really. It is just that the real estate agent of a property I was looking at, was mentioning that the area may be zoned as commercial in the future and this was a big plus for the property. I am trying to understand why she said that. I see the negatives but not the positives.

@Lexi TeifkeYes, a duplex.

Hello, one more question, as I do my due diligence regarding properties.  I've seen a property in which two door openings need to be sealed back to solid walls. Do you have a price range or how much resealing the door openings to their original state (complete walls) would cost? I need to include that estimate in my property repair estimate.

Thanks

Hello, need some insight here. In terms of maintenance costs and durability, how do flat roofs compare to pitched roofs here in Austin? I've seen a 1980's property with a flat roof but have no idea about maintenance costs, etc.

Hello, what are the benefits and disadvantages of a current area been changed from residential zoning to commercial? How does it impact the homes in the area (in terms of taxes, property value, etc?

@Zachary Barton Thanks, yes. I have been monitoring the MF's and SFR's in the area. I will see some Mf's personally soon and running numbers on the ones with potential. I see one that fits my criteria quite a bit but it is too high. It has been on the market for some time, though.

I will keep you in mind if my current agent does not work out.

Thanks

@Costin I. Totally agreed. No cash flow for at least 5 years (when I plan to leave) and even so, there may not be any cash flow for even longer.

Thanks for recommending @Zachary Barton. Unfortunately, I already have an agent but will keep him in mind if things do not work out.

@Costin I.  

@Zachary Barton

Thanks for both your input. Because of my current situation, I am restricted to Central, North (up to close to 183 and MOPAC) and some areas east (near 51st and Mueller.)  I am able to put a down payment of at least 20%. My range is up to 400k. I've already resign myself to the idea that there will be no cash flow for at least 5 years , since I will be living on one side. I will be banking on long term appreciation and a steady renter income--assuming the housing pricing keep increasing  in Austin and people will continue to rent. When comparing purchasing a single family home, where I have to pay the entire monthly mortgage, I prefer to have a renter that will be paying some of the mortgage.

MF would be a good option if I were single and did not have a family. NOt sure I can get a decent SFR in Austin where i would want to live with a family.

@Kris Wong thanks for the tip and resource. It was very helpful to assess my goals. I think it is very clear from the information in the breakdown of the various areas, that I am looking in  at least B areas. This means then, that perhaps changing my goal from cash flow to long term appreciation makes more sense. Now I need to figure out whether I should stick with a single-family or duplex.