Real estate investing in Austin, Tx - Posted by Chip

Posted by Shane on February 05, 2002 at 20:15:15:

Look into real estate investment clubs in your area. Start small and expand your portfolio slowly. Many new investors max out their borrowing power on rental income proerties. Short tern this provides you with little revenue and a lot of headaches. Do you really want to own a twelve unit that expenses $2500 a month and brings in $3000. Sure you have $500 a month in profit but if you have all of your credit tied up in that one property where do you go from there? What happens if a furnace breaks down or a tennant doesn’t pay? Don’t get me wrong rental properties are an excellent way to make money when the time is right or if your goal is one or two long term investments. However for the quick turn around think rehabs. Not major rehabs that require over ten thousand dollars in work. Look for properties that need updating. Painting,capeting, possibly some cabinets or a bathroom are relatively inexpensive updates that can dramatically increase the value of a home. Eventually major rehabs may be profitable and beyond that condo conversions can rake in some big bucks. Get involved with other investors and don’t be taken by the whole “you can make millions if you just buy my tapes for $99.99” scene. Any questions feel free to email me. I may have a few suggestions about clubs in your area. Shane

Real estate investing in Austin, Tx - Posted by Chip

Posted by Chip on February 05, 2002 at 19:11:24:

Anybody have any tips for someone looking to invest in real estate in Austin? I currently own a warehouse that I am renting out that generates approximately $1500.00/month net. I’m looking to invest in more real estate but have little experience. Any help or ideas would be appreciated!


Re: Real estate investing in Austin, Tx - Posted by Jose

Posted by Jose on February 06, 2002 at 21:47:10:


Tips for investing in Austin Texas.

My experience in the Austin, market is to look at as
many properties as possible. There are many individuals
looking for properties and the competition is

I myself am buying single family homes regardless of
condition, as long as I can make a profit. I fix them
up and sell them at market value.

Realtor’s have not been much help. All the properties
presented to me by realtor’s allow very little profit
after fixup, if any.

I am looking for individuals who are out there finding
and buying properties for quick flips where they are
not able to do the rehab and are willing to allow
a rehab investor to make a good profit.

My 2 cents worth.