Hello everyone! I’ve been on BP since August of 2018 and have been on a mission to actively make things happen, this place has been absolutely amazing! So much knowledge and so many resources. Big thanks to all of you who are willing to give back – you’ve definitely helped me gain traction! This is my first post here so I’m excited to begin my true engagement and contributions to this platform.
I recently closed on my first multifamily property in the Mueller area in Austin, TX 78723. The ARV's for that side of town are all over the place, especially in the University hills/ Windsor park area where the property is located. My duplex is a little odd, both units are three bedrooms and 1 bathroom. I am struggling to find the dollar to dollar value in adding an additional bathroom on both sides to see what kind of return it will give me with ARV. The comps are also challenging as they range from $140/ SqFt all the way to $230/ SqFt for properties with very similar finishes and size. Ideally, I’d like to keep it as is and not add bathrooms due to rehab costs – but if it can significantly increase the ARV – then it may make sense.
Would love to hear from anyone who has experience in the area or has some good tips as to how to better pinpoint where I will fall if I keep it as is considering the odd layout of the property.
My goal is to flip the property and not to rent it out. I’ll be putting about 70-80k of work in to the property. Would love to hear everyone’s thoughts and if anything, would love to meet up with local investors to build relationships!
-Roshan Shah
