Investing in Austin - Realtor Recs / Neighborhoods (Highlands, West: rental, loan)

[tfox]

I'm located in Denver and have recently sold some investment properties here. While I'm exchanging those for other properties in Denver, I'm also looking to diversify a bit into a lower-price market, but one still roughly similar to Denver. In so doing I've settled on Austin, but I don't know much about the city.

If anyone has realtor recs who can help me out (send me a PM please), I'm looking for someone who can:
a. work with an out-of-state investor
b. help me place site-unseen offers if need be.
c. go above and beyond in arranging for fix-up and other things for an out-of-state investor.

I have an awesome realtor in Denver who does everything for me, so I know how valuable such a person is.

In Denver most of my best investments have been in city-center neighborhoods that have been (at the time I've bought them) a bit rough around the edges but already attracting a cool vibe. If anyone's familiar with what the Highlands, Berkeley, and Sloan's Lake areas in Denver were once, they were bit rough, now they are ultra-trendy and expensive, so I'm selling in that area, and buying in some more up-and-coming areas in Denver.

So, what's the equivalent in Austin? Something that's already attracted the notice of would be residents (meaning rents have started to go up), but still not SO discovered that it's the darling of Austin Monthly and the national press.

Just to clarify, I'm not looking for old-money neighborhoods or the hipster neighborhood du-jour. That would be the already discovered area. I'm looking for perhaps what might be the NEXT area, popular.

Thanks in advance. Remember the realtor recs should probably be PM'ed to me in order to keep with c-d's terms of service.

[A-Tex]

You are 10 - 15 years too late for this in Austin.

[Aquitaine]

So, what's the equivalent in Austin? Something that's already attracted the notice of would be residents (meaning rents have started to go up), but still not SO discovered that it's the darling of Austin Monthly and the national press.

The only area I can even think of that isn't 'discovered' would be around Decker Ln in East Austin.

It's still not exactly desirable but it's better than it was and by process of elimination, is one of the last parts of town that could possibly appreciate from 'cheap' to 'less cheap'. No guarantee that it will but there are a couple residents on CD in that area and they have good things to say about it.

[Westerner92]

If you're not going to live here, go away and don't contribute to the rising of home prices please.

[ashbeeigh]

Originally Posted by Westerner92

If you're not going to live here, go away and don't contribute to the rising of home prices please.

I know there was a smiley after this but I'm going to echo the sentiment.

[Aquitaine]

I know there was a smiley after this but I'm going to echo the sentiment.

Presumably the person renting the house will live here.

Shame on you, and NIMBY.

[ashbeeigh]

Originally Posted by Aquitaine

Presumably the person renting the house will live here.

Shame on you, and NIMBY.

Investors driving up the price of rent is one of the main reasons for unaffordability. I was not against someone renting a house. I'm not sure where you think I was coming from.

[Aquitaine]

Investors driving up the price of rent is one of the main reasons for unaffordability. I was not against someone renting a house. I'm not sure where you think I was coming from.

So you're OK with the renter, but not the landlord?

Demand drives up the price of rent. Investors are just evidence of demand. I own a house in South Austin that I rent out. I live in Austin. Am I OK but OP is not because he doesn't live here? What difference does it make? If you were trying to buy a house and you lost the bid to an investor, it's just as much the future renter's 'fault' - not that there's fault to be assigned; things cost what they cost.

Nobody likes overcrowding or their favorite burger joint with a line around the block. It's easy, and lazy, to blame faceless 'investors' for this, but the fact is that it's just as much your fault and mine for wanting to live here. The fact that we got here before the OP doesn't make us any better than him and snide remarks about 'don't come here' are just that - snide remarks.

Austin is no longer a great investment opportunity and it's plenty easy to make that case without them.

[Westerner92]

Originally Posted by Aquitaine

So you're OK with the renter, but not the landlord?

Demand drives up the price of rent. Investors are just evidence of demand. I own a house in South Austin that I rent out. I live in Austin. Am I OK but OP is not because he doesn't live here? What difference does it make? If you were trying to buy a house and you lost the bid to an investor, it's just as much the future renter's 'fault' - not that there's fault to be assigned; things cost what they cost.

Nobody likes overcrowding or their favorite burger joint with a line around the block. It's easy, and lazy, to blame faceless 'investors' for this, but the fact is that it's just as much your fault and mine for wanting to live here. The fact that we got here before the OP doesn't make us any better than him and snide remarks about 'don't come here' are just that - snide remarks.

Austin is no longer a great investment opportunity and it's plenty easy to make that case without them.

There is, indeed, a difference between a local, responsive landlord and an out-of-state profiteer like OP clearly is. He/she can't even be bothered to come down here and do their own research or even find their own realtor. Investors like OP drain money from the local economy since profits are sent out of Austin, and they help create a housing bubble with speculation. The only good they'd do for Austin is hire a realtor and maybe a crappy property manager, but they're a net drain on the city. Just because it's legal doesn't mean I can't have a problem with it. Austin is special because it likes to keep things local.

[mesmer]

Originally Posted by Aquitaine

So you're OK with the renter, but not the landlord?

Demand drives up the price of rent. Investors are just evidence of demand. I own a house in South Austin that I rent out. I live in Austin. Am I OK but OP is not because he doesn't live here? What difference does it make?

Someone could make the argument that a local landlord, who is managing the rental themselves will have lower overhead and therefore have the ability to keep rents lower should they choose to do so.

Also, as an owner that lives next to a rental property that was converted to such after the previous owner passed away, we saw a significant difference in the quality of tenant and responsiveness to issues once it was sold to a local investor/manager versus the year it was in limbo with an out of state owner. The out of state owner who inherited the property was actually more experienced in property management than the local yokel who bought it, but that seemed to mean very little compared to having someone nearby.

Whether or not either argument appeals to you is a whole other ball of wax. I don't really care either way. I doubt the OP will be able to find anything that will fulfill their requirements.