--> NEWB MISTAKE - I Meant to say "looking for" rather than soliciting, but it looks like post titles cant be edited :-( <--
I'm an absolutely n00b to the world of REI, I happen to have found my way to biggerpockets thanks to the interwebs and would love your advice.
Here’s what I’m considering investing in -
- A SFH 3+, 2+ bath in the N Austin,TX area.
- Keeping the overall cost under ~ 250 K mark.
What I’m hoping to get from the deal.
- A rental investment for the first few years, that I could potentially move into in a few years.
- Not expecting a large CAP rate or much cash flow initially but hoping that will change in the medium term (~ 3 years). At least initially, I'm hoping that the house pays for itself( ie. mortgage, property management, HOA, property taxes and other expenses.
- Appreciation.
What I’m concerned about -
- Property taxes - Given that Im going to be out of state for atleast a few years, I understand that there isnt a cap on the property taxes. But realistically, what percentages should I be accounting for?
- If I end up holding the unit purely as a rental investment. Are there any other hidden costs that I’m missing here?
I appreciate any other feedback/advice you may have
Thanks!
