Hi Everyone! We attended the most recent 9/26/15 meetup. We learned a lot!
I have been in the Metroplex since 2008 and lived in Austin prior to that since 2000. I own a 2003 2 bedroom, 2.5 bath condo (DR Horton) that has been rental property in Austin since 2008. It's mainly North Austin tech workers in the condo complex and it has hardly been vacant in seven years. I would consider buying any type of property again in Austin or the Georgetown area that is a good deal for long-term rental. (I have family in Georgetown and my cousins are buying the Stagecoach Inn in Salado to do major rehab of the hotel and restaurant!!! They are also rehabbing and developing the Perry Estate near 41st and Red River in Austin to turn it into a boutique hotel, which is 10 prime acres near UT). I currently own a townhome in Bedford (primary residence).
Jeff has two rental properties: 1) a condo (2 br/2 ba) in Oak Lawn and 2) a duplex in Hurst.
We are looking for another duplex, either to buy as a partnership or for Jeff on his own. If anyone knows of any duplexes in the $200K-300K price range (or less!), please let us know!! We might also be interested in 4-plexes but don't know enough about them yet. We are not really interested in major rehab or fixer-uppers.
We are also looking to learn from other people about financing a property so a big down payment is not needed (e.g., with the right LTV, owner-financing, etc.).
Our goals are to buy and hold over the long-term on all properties. It was great to meet everyone Saturday and we look forward to more learning! Also, I am a tenured university professor and Jeff works at Intel! :)
-Peggy
