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Old 08-10-2017, 10:03 PM
 
8 posts, read 25,620 times
Reputation: 11

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Hi, I live in cedar park and own a home near brushy creek. I am looking to invest in real estate. This will be a long term 15 yr investment. This is my first time investing.
My budget is 200,000.

1) Which parts of Austin should I look for investment and good returns?

2) Which parts of town have a good rental market?

3) Should I buy a condo/ townhome or a single family home?

4) Am I better off buying a piece of land in Leander instead?

5)Best time of the year to buy and rent?

6) Any recommendations for ABR(accredited buyers rep) and property management companies.

7) How good should the schools be ranked and is that a crucial factor to consider when buying an investment property?

Any advice and suggestions are welcome.TIA
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Old 08-10-2017, 10:15 PM
 
420 posts, read 404,402 times
Reputation: 728
That ship has sailed. The last good sub200 market was 78729. Gone now.
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Old 08-11-2017, 05:54 AM
 
7,742 posts, read 15,155,626 times
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Quote:
Originally Posted by Austinite76 View Post
That ship has sailed. The last good sub200 market was 78729. Gone now.
dont be silly there are plenty of opportunities all the time. There are lots of sub 200k houses in austin on the east side. 78721 and 78723


Draw a circle around downtown. Look at the cities east that are equivalent to cedar park, circle C, lakeway in distance from downtown. That is the outer edge. Anything closer in can potentially go up in value.

I personally have 20 acres around 183/MLK waiting for the city to grow east. I still think that east side is perfect for massive amounts of inexpensive tract housing. I would try to stay inside 130 and get as close to downtown as possible. Preferably inside 183. The east side is the easy answer to affordability.

There is a new development called colony park on loyola ln that is still in the planning stages. Hopefully it can be another mueller.

Look at austinhomesearch.com every day, drive around east austin.

I didnt have the funds but about 3 years ago there was a 218k property on town lake by the holly street power plant. Today worth maybe 800k

There are quite a number of lots in the under 200k range in east austin. You could possibly buy one, then buy a house that is being moved from someplace else. There is a company that periodically has "moved" houses forsale in the 30-40k range.

Ultimately you sometimes have to be creative and take risks.

two years ago I bought 100 acres of conservation land in northwest hills for under 400K. It was inexpensive because it isnt buildable. Absolutely no one wanted it. My idea was to buy a house that abuts the land to create an in town "ranch" of 100 acres. Im sure that there are flaws in the plan, but in theory a 100 acre in town ranch could be worth 2+ million.

On the other hand, instead of buying on rainey street about 7 years ago I bought on lake travis which proceeded to go dry. That property has not appreciated at all.

Last edited by Austin97; 08-11-2017 at 06:23 AM..
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Old 08-11-2017, 07:26 AM
 
Location: Austin, TX via San Antonio, TX
9,854 posts, read 13,736,474 times
Reputation: 5707
If you are willing to tear down in 78721 and 78723 you can find something sub 200. Otherwise it's going to be the 250s at least. And those are 500 square foot apartments, not 800 square foot town homes. Maybbeee 78724....
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Old 08-11-2017, 07:59 AM
 
420 posts, read 404,402 times
Reputation: 728
Please go back and look at the points the OP is using for criteria.

200 and a good rental market don't go together.
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Old 08-11-2017, 08:40 AM
 
Location: Austin, TX via San Antonio, TX
9,854 posts, read 13,736,474 times
Reputation: 5707
Quote:
Originally Posted by Austinite76 View Post
Please go back and look at the points the OP is using for criteria.

200 and a good rental market don't go together.
You'd be shocked how many low income families would rent a home in that range (or can only afford that). Risky, but that's what investment is about, right?
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Old 08-11-2017, 08:55 AM
 
Location: Austin, TX
155 posts, read 211,833 times
Reputation: 113
Why not Cedar Park? You can still find homes in the 225-250k range with good rental potential (Quest Village springs to mind)
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Old 08-11-2017, 09:45 AM
 
Location: Texas
3,575 posts, read 2,207,963 times
Reputation: 4129
I would look in Cedar Park or some where close to where you live. So if you have a problem you can go over, look at it, repair it. I own 3 other homes within a short distance of my house. It sure makes it easier to upkeep, check on , etc. Good luck
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Old 08-11-2017, 02:44 PM
 
Location: Austin, TX
12,059 posts, read 13,923,881 times
Reputation: 7262
Manor or Del Valle

Manor is undervalued on on 290.

Del Valle is undervalued and near the Surf Park and Circuit of Americas.
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Old 08-12-2017, 10:50 PM
 
Location: Avery Ranch, Austin, TX
8,977 posts, read 17,584,060 times
Reputation: 4001
Quote:
Originally Posted by PrimusPilus View Post
Why not Cedar Park? You can still find homes in the 225-250k range with good rental potential (Quest Village springs to mind)
Good luck with that! Unless you have the good fortune to know someone willing to sell to you without listing. Nothing in Quest Village under 259K and it lists this way:
HOUSE PRICED UNDER MARKET - NEEDS CARPET, PAINT & FEW REPAIRS*

Hehe. Actually, the per sq ft price isn't bad, depending on condition of this 20 year old house...depending...
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