All Forum Posts by: Xuan "Swan" Redding

Hi Brandon,

I am in Austin and can tell you there are very few multiplexes for sale right now. In fact, what I see happening in the last two years are Sellers are splitting multi-units and selling them individually because the selling is so good right now.

I do see investors buying older properties, scrapping the lot and building new multiplexes, if you want to go that route. It may cost a bit more, but depending on the area, you will make a great return on the rent as a buy and hold. You may also consider single families to give yourself a few more options when you're looking.

As for San Antonio, from an agent point of view, I hear that private rentals have a harder time renting, because the commission custom favors apartments. In Austin, agents get 30-40% of one month's rent to show you unit. In San Antonio, I am told agents get $150-300 flat fess, compared to apartments that pay 50-100% of one month's rent.

As an agent and investor in Austin, I can tell you it's a great market for buy and hold in Austin, if you can find the property and acquire at the right price.

Maybe you can get the perspective of San Antonio from an agent/investor there.

Hope that helps. :) Good luck!

Hi BP Members,

I'm about to do a 1031 and need recommendations on 1031 companies. Any recommendations?

I'm having trouble finding any info online about fees and service reviews.

I agree with Beau. It doesn't hurt to make those connections and you never know if one of the wholesalers just got lucky and found a great deal.

It's nice to have options.

Direct market and flip houses in Austin. That's where you'll make some quick returns.

Or find you can find buy and holds that way too.

Hi Justin,

I suggest you attend REIAs and start reading! :) Then start prospecting for your first deal. There is TONS of info out there so "great advice" is all around you, especially on BP.

I am a Manager and trainer at a local Austin Brokerage. I'm happy to answer any questions you may have about getting started with real estate and/or investing.

But my sincere advice to you is to "Just do it." You WILL LEARN as you go.

:) Good luck and let us know if we can help.

:) This is why it's such a competitive market in Austin right now.

I'm loving every minute of it!

Another thing to consider is WHY you want a license. If you just want to find property, so you can focus on flipping, wholesaling, etc - then let someone with experience do that for you. You will have a much better chance at actually closing the deal, especially in hot market areas.

I have seen many agents jump into getting their license just to find properties for themselves (in Austin) and they get frustrated with the the competition because they lack the expertise to negotiate and WIN the deal, let alone maneuver difficulties that may arise., which happens often.

In the end, they are not getting the best deals for themselves, like they had hoped.

Start thinking about you business on a scale-able level now. If you see your focus as a Realtor, then go for it. If not, then get someone who can do that part of your business really well, so you can focus on YOUR part of the system.

Hi Jerry,

I am a REALTOR in Austin, and I focus mainly on investment properties (SFH <$300K for flips and Buy and Hold).

Depending on WHERE you are looking, $5K over asking if not very much. I have had client submit offers for personal homes that were $50K over and still lost, but the areas are very hot (Central, etc).

It also depends on WHAT you want to do with the properties. I have lots of investor clients that are looking to flip or wholesale right now and the low supply + higher pricing makes it very hard to find anything at a price that leaves you room to flip or whole and still have a profit margin. If you're looking for that, then you'll need to direct market to the sellers to find them first.

If you don't want to do that or can't due to cost, then connect with as many wholesalers as you can and they will let you know about deals that they find and can sell you for a fee.

Eric is right, if you're looking to buy and hold, then you have room to pay a little more to just GET the house - but be careful that you are still getting a good deal and not just ANY deal.

My advice to you is to look at market value and determine what your cut off is. Then make that offer. You can always renegotiate after inspections. I submit several offers with my clients and discuss the PROs of our offer with the Sellers and Seller's Agent (quick close, no contingencies, cash, etc). That will give your offer an edge and at the very least make it stand out.

Always - ACT FAST! And make your deal easy to say "Yes" to.

Lastly, let your friends and family, Sphere of Influence, Book of Business and REIA groups know what you're looking for, they might know someone or have a pocket listing coming up - like I do...

:) So, what are you looking for?

Welcome to Austin and BP! :) You're going to love it here.

Once you know specifically what you are looking to do, make sure you let others know.

In the meantime, read, read read and ask questions! :) Good luck, Jonathan!

Welcome to Austin, Andrew. My husband and I are investors in the area (I'm a Realtor and he does property management and we flip houses) so if we can help you get started in any way, just let us know.

We love meeting local investors and collaborating on deals.

What kind of investing do you plan on doing to start?