All Forum Posts by: Bob Cantwell

Bryan and Drew, thanks so much for your input!

Bob

Any recommendations on 1031 intermediaries in Austin, TX?  

Thanks

Bob

Thanks for your replies.

Jon, hopefully I can make the next meet up. I have had heard from several people that Eanes is the top district - house prices in this district are very high.

I have also heard that Bowie is very good HS along with the others Sean brought up.

I do get the feeling that SW Austin home prices are going up faster than rent - I get this feeling for most of Austin - getting 2% per month in rent seems very unlikely. I think getting 1% is a stretch. Price appreciation while getting sub par rent may be the better exit strategy.

Baltazar, thanks for your input - I hope I can achieve your results.

I wish everybody the best!

Bob

Hi, my name is Bob Cantwell, I am 50, have two teenage kids, work as an electrical engineer and am in the process of relocating from Dallas to Austin as part of a job change.

My wife and I have just sold some vacant land that was held as an investment and we are planning on purchasing SFR in SW Austin as a part of a 1031 exchange.

We are interested in a strategy of buying a good starter home in a great school district, then lease it, hopefully to a good long term tenant and hold the investment for steady generation of income and some appreciation. We are looking at this RE investment as being a component of our investment portfolio. As we gain more experience in RE, we may buy additional properties.

My first impressions of the Austin RE market is the inventory of available houses is small and when something is available it sells the day it is listed with multiple offers. I believe Austin is a wonderful city with excellent growth prospects due to the high quality companies, university and capitol.

My newb questions are:

1. How much time does it take to landlord a local house?
2. Are there any RE investment groups in Austin that allow newbies to join?
3. What are the steps for creating a solid passive income generating RE investment?

Thanks for all the great info on BP!

Bob