All Forum Posts by: Ryan Kelly

@Mikey Maher First of all, welcome to Austin! As everyone has mentioned, there are numerous pitfalls to consider. The ones I see most with investors are:

1) Not having enough cash to handle expenses and rehab

2) Unrealistic expectations on returns (especially in a hot market like Austin)

3) Lack of patience

Keep us posted on your plans and I’d be happy to connect if you would be interested to talk in more detail about our current market.

Hey Scott, you are finding similar cash flow challenges as many investors in the market right now. Vacancy rates will vary depending on the neighborhood and distance to business centers. The core area still rents pretty quickly. Overall, the market has a 96% occupancy rate, so pretty strong. One good strategy is to find a property that needs significant rehab ($20k-$30k+) and add the rental value, just like the BiggerPockets BRRRR method.

For roofing, reach out to Dan Malin with Capital City Roofing, LLC. They do a ton of business in Austin and have a 5-star reputation.

For A/C, contact Tommy Young with Competition AC and Heat. Affordable and dependable.

Good luck and keep us posted!

Hi Scott, Austin is a great market if you are willing to stay patient to find the right deal. Our monthly return of one month's rent is approximately .6% to .7% of the sales price, so well below the 1% rule. You make up for it in steadier appreciation versus most markets. The positive of our market is strong nation-leading GDP growth and job growth, with a high demand for rentals. Feel free to reach out directly if you want to chat further. I'd be happy to share more data and help with your search.

@Trey DeJohn First of all, welcome to Austin! Your assumptions are accurate in that Austin isn’t the easiest market to find deals, However, there are options and deals to be found if you hunt consistently and set obtainable returns. I’d be happy to chat with you on the current market here and some targeted areas to hunt.

Hi Ray, welcome to Austin! I've seen a BP group in North Austin / Round Rock on the forums before. I'm considering starting one for the south Austin area. Let me know if you are interested!

Ryan

Happy holidays BP! I’m reaching out for recommendations to good CPA’s in Texas. I live in Austin, own rental property and a self-employed business. I would love to work with someone very knowledgeable about real estate and property investing. Thanks!