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Old 08-04-2020, 12:21 PM
 
148 posts, read 137,439 times
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Any suggestions where to buy investment rental property in Austin near downtown . Maximum budget 300k Need somewhere where finding tenant is not a problem .

Last edited by sm24; 08-04-2020 at 01:18 PM..
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Old 08-04-2020, 12:34 PM
 
Location: Austin, TX via San Antonio, TX
7,161 posts, read 9,639,812 times
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Ugh. You’re why I can’t afford to buy here. Do a search.
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Old 08-04-2020, 01:23 PM
 
148 posts, read 137,439 times
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Quote:
Originally Posted by ashbeeigh View Post
Ugh. You’re why I can’t afford to buy here. Do a search.
I just started my research . BTW this is not for me and doing this for some elderly family member . Did not want to to mention it .
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Old 08-04-2020, 01:43 PM
 
Location: Austin, TX via San Antonio, TX
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Quote:
Originally Posted by sm24 View Post
I just started my research . BTW this is not for me and doing this for some elderly family member . Did not want to to mention it .
Why Austin? Are they already here? Seriously, forums are meant to help, not do the work for you.
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Old 08-04-2020, 01:51 PM
 
Location: Austin, TX
1,811 posts, read 2,319,783 times
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Quote:
near downtown . Maximum budget 300k
That doesn't exist unless by 'near' you mean '15-20 minutes away'

The area off Manchaca South of Slaughter Lane has homes in the $220-$300k range. We own a single property down there, but I wouldn't buy an investment property here unless I were physically here to deal with it. If you're going to need a property manager I would go out further - maybe Pflugerville.
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Old 08-04-2020, 02:42 PM
 
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With all the new development going on in the burbs, do you think its really worth it to be an investor in any kind of property in places like Pfugerville, Round Rock, Cedar Park, Hutto, ect?

Some have mentioned Montopolis in the past, I personally haven't looked to deep into it yet though but supposedly its the best bang for the buck right now, although Im unsure if $300k is possible there or not. For the rest of Austin, $300k is going to be alittle too low, unless you're talking about grabbing something below market value that needs repairs and have someone reliable that can do the work. That or you find a foreclosure situation with someone needing to sell ASAP willing to go below market value but I havent seen that too much in Austin, the demand is too high and they know they can get market value pretty quickly and easily in such circumstances.

Quote:
Originally Posted by ashbeeigh View Post
Ugh. You’re why I can’t afford to buy here. Do a search.
Which do you feel is more responsible? The amount of investors renting out property or the fairly high presence of high paying high-tech jobs within the metro?

Last edited by Need4Camaro; 08-04-2020 at 02:53 PM..
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Old 08-04-2020, 02:59 PM
 
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look at Wells Branch too
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Old 08-05-2020, 04:42 AM
 
Location: Austin, TX via San Antonio, TX
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Jobs are more reasonable at N4C. Investors make it harder for those between the 80% and 300% of the s wedge AMI to find rental and home buying power.
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Old 08-05-2020, 08:44 AM
 
36 posts, read 10,241 times
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Quote:
Originally Posted by sm24 View Post
Any suggestions where to buy investment rental property in Austin near downtown . Maximum budget 300k Need somewhere where finding tenant is not a problem .
Ha! Good luck buddy. That is literally impossible within a 5 mile radius of Downtown Austin unless you wanna buy a shack. Consider buying near Tesla, Parmer lane, or pflugerville as those areas are growing at a really fast rate.
The closer to downtown the better, it doesn’t have to be a new development. Rentals near new communities sometimes don’t do well especially if they’re really far away from downtown Austin.
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Old 08-05-2020, 09:32 AM
 
6,923 posts, read 12,331,727 times
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It is annoying when people constantly say there is nothing affordable, because they obviously havent checked. There are many single family homes under 300K close to downtown.

Go to austinhomesearch.com, set your price to under 300K, under more options select single family homes.

Most are going to be condos because the agents set the wrong field. Some are condos, but are standalone, so like a single family home

East of springdale and west of 183 has homes under 300K. East of 183 definitely has homes for under 300K
South of the river, east of pleasant valley, west of 183 (montopolis )

South of 71 is also has homes for under 300K


Echoing what need4camaro said, I personally think the best opportunity for appreciation is montopolis. Once the economy really crashes I might buy one.
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