Vintage charm and modern demand. 

Be sure to find comparable areas, asset class, vintage, and sizeGood LuckGino

sounds like a typical fixer upper .. and very typical for that vintage home. nothing shocking here.

And we've been doing another STR with a little vintage trailer that's been killing it for 5 years!

Right now, newer vintages, larger mix of 2 beds, washer dryer hookups, townhome style, median income in excess of 50,000.

As people started chasing yield, these prices rose too high in comparison to better vintage assets.It comes down to price, and your pro forma reflecting lower rents for these units.

It's not for me, but I can understand why some investors love it.Investors have been over paying for deals for years in Austin, especially the older vintages.

I'ma was getting burned out, and I started hating real estate.Here's the deal:67 Units, $12.2 million, 2019 vintage, mix of SFH & Duplexes.We bought this deal from the same seller who sold us a 62 unit last month.

You need to incorporate the type of vintage you want to buy, your ideal value-add strategy, the market and submarket, how you want to buy, etc. 

However, you can expect to recover about 50-55% of your investment when selling the home.Another good option would be to consider converting attic space, finishing a basement, or repurposing a large living area to add a bedroom without expanding the home's footprint.Some other tips to help you save on materials while still creating an appealing finished product: buy in bulk, shop at discount stores and outlets, look for overstock, discontinued items, or slightly imperfect materials, attend auctions and Estate sales, incorporate reclaimed wood, vintage fixtures, or other salvaged items for a unique look at a lower cost, build relationships with suppliers...If you have any more questions or are looking for funding please feel free to reach out to us, we're a private lender.Regards,Jackson