If you are a potential landlord, where would you buy rental property in Austin? (Round Rock: real estate, apartments)

[austinhiker]

I am looking to buy a 2BR apartment in a neighborhood that has an average to above average school district with accessibility to major roadways or public transport to rent out. Which areas would you guys suggest for this? I am trying to narrow down on a few areas in Austin to be able to search more efficiently with the above constraints in mind.

Thank you in advance for your replies.

[centralaustinite]

I'm confused. Is it possible to buy a single apartment? Do you mean an apartment building? Or are you referring to a condo (in which case, you would need to research the condo board and rules).

Why not a single family home? Are you an experienced real estate investor/landlord or would this be your first go-around?

Lots of easier ways to invest with much more liquidity than real estate especially if you aren't knowledgeable about the area and various pitfalls.

[FalconheadWest]

In New York, you buy apartments. In Texas, you buy condos. Austin only has 1 "major roadway", and I classify that meaning no lights and doesn't go only thru parts of the city (Mopac). Not the best to focus on that road as there are others. The areas with above average schools don't have much public transportation, if any, as they are too far from the center. There are plenty of "average" schools.

You need to narrow your criteria, and the main way to do that is by price.

[Kion]

Cedar Park. Should tick all those boxes for ya!

Secret gem - you'll make tons on the appreciation alone.

[CarnivalGal]

Northwest Austin. Lots of condos near Anderson High School. Great schools, on bus line, and near MoPac.

[JR1211]

I own a condo in West Campus. Bought in 2004 and have seen it almost triple in appreciation and has been rented out since 2006 (when I moved out) at a profit!

[Novacek]

Originally Posted by FalconheadWest

Austin only has 1 "major roadway", and I classify that meaning no lights and doesn't go only thru parts of the city (Mopac).

If you include toll 1, Mopac goes through both Austin and Round Rock.

130 goes through Austin, Pflugerville, Round Rock ETJ, Georgetown, and other stuff south.

[FalconheadWest]

Originally Posted by Novacek

If you include toll 1, Mopac goes through both Austin and Round Rock.

130 goes through Austin, Pflugerville, Round Rock ETJ, Georgetown, and other stuff south.

But it doesn't take you thru the entire area North to South. Mopac mostly stops at 71/290, and then just turns into frontage roads once you hit Slaughter, meaning more traffic lights.

The majority of people around here don't like nor use the tolls because they don't want to pay the money. I love the tollways because there is hardly ever anyone on them and the speeds are awesome, 75mph on 45 and 80 on 130. 45 toll only takes you from Cedar Park to the other side of Pflugerville. 130 takes you, technically, thru the entire East side north to south, but to get there is not convenient if you're not on the East side. 620 is all lights, and 360 only goes so far, and has many lights. Hence, I35 is the only "major" highway in the area, and it's a parking lot most of the day.

[Glenn Ross]

Another area to look at in East Austin. Using Hoovers Restaurant as your radius, work your way outward. This is a desireable area and your tenants would probably stay longer and should be easy to fill vacancies.

Of course, this is also dependent upon your budget.

[ericsami]

FarWest (a great to rent out to Grad Students)
around the old highland mall where now we have two ACC campuses.
if you are thinking south Manchac and William Canon There about.

the trick is to stay away from places with really good finishes. i don't care how good of due diligence you are.

you will lose tenants voluntarily or involuntarily and frankly if the renter only stayed for six month alot times their move causes more damage than their deposit.
I would stay away from hardwood flooring. people ruin them and repairing them is not easy.