Austin Investment Property

[Pencil_Rubber]

Good Morning Mamalu ... mee help koncham kavali 

Austin Cedar park area lo oka property chusanu which is in Leander SD school zone (Leader High School kinda vastundhi). House is SFH with ~2500 sq ft with 4/2.5 bedroom. This is 23 years old property but has new roof (3 Yrs Old), AC (7 Yrs Old) and decent backyard. I'm negotiating for $370K. This is for investment only 

Emantaru ... Old houses in Austin valla pros and cons cheppara please. 

 

Pros:

- Austin has clay soil. So there will be foundation settlements after 10 years. So we can see the foundation issues if any as this is old property. There are none so observed so far.

- Old neighborhood. Not like new communities with fancy neighborhood which has high HOA's

 

Cons:

- Old Property

- Hard to Rent?

 

Thanks buddies 

 

 

[AnandaVivek]

In general texas lo old properties appreciate avvavu..nuvvu California nuncha?

[Pencil_Rubber]

2 minutes ago, AnandaVivek said:

In general texas lo old properties appreciate avvavu..nuvvu California nuncha?

No buddy ... I'm from south Florida. Just want to invest in multiple areas and Austin is one of them anthe ....

Even new constructions will be old houses in the future right? You think these will not appreciate even though they are in good schools and close to the Domain?

[AnandaVivek]

3 minutes ago, Pencil_Rubber said:

No buddy ... I'm from south Florida. Just want to invest in multiple areas and Austin is one of them anthe ....

Even new constructions will be old houses in the future right? You think these will not appreciate even though they are in good schools and close to the Domain?

They will hold the price for sure. But don’t expect the California style million dollar homes in 10’years. I would suggest to buy 10 year old properties if u are keeping for long term. Fyi its not that close to domain

[Aquaman]

good school zone and location are more impt ..

23 years old should be fine.. as long as roof, ac are good.

[Pencil_Rubber]

Just now, AnandaVivek said:

They will hold the price for sure. But don’t expect the California style million dollar homes in 10’years. I would suggest to buy 10 year old properties if u are keeping for long term. Fyi its not that close to domain

Thanks buddy .... I'm not expecting x5 times return on the property. As long as I can rent and have the house pay for itself then I'm fine as it add equity to the property. 

Regarding access to Domain, I saw it is 16 miles to Domain. I have not seen the roads in Austin. Is it too hectic to travel to Domain? 

Any comment on the rent buddy? Is it easy to rent properties?

[Pencil_Rubber]

Just now, Aquaman said:

good school zone and location are more impt ..

23 years old should be fine.. as long as roof, ac are good.

It is on the border of Cedar park and Leander. Even though the zipcode is 78613, it is under LSD school zone. High school is Leader High school

[cameraman]

Austin real estate investor @Sonu_Patel 

cc

@perugu_vada 

[Sreeven]

1 hour ago, Pencil_Rubber said:

Good Morning Mamalu ... mee help koncham kavali 

Austin Cedar park area lo oka property chusanu which is in Leander SD school zone (Leader High School kinda vastundhi). House is SFH with ~2500 sq ft with 4/2.5 bedroom. This is 23 years old property but has new roof (3 Yrs Old), AC (7 Yrs Old) and decent backyard. I'm negotiating for $370K. This is for investment only 

Emantaru ... Old houses in Austin valla pros and cons cheppara please. 

 

Pros:

- Austin has clay soil. So there will be foundation settlements after 10 years. So we can see the foundation issues if any as this is old property. There are none so observed so far.

- Old neighborhood. Not like new communities with fancy neighborhood which has high HOA's

 

Cons:

- Old Property

- Hard to Rent?

 

Thanks buddies 

 

 

South florida lo ekkada

[Guest]

48 minutes ago, Pencil_Rubber said:

No buddy ... I'm from south Florida. Just want to invest in multiple areas and Austin is one of them anthe ....

Even new constructions will be old houses in the future right? You think these will not appreciate even though they are in good schools and close to the Domain?

Appreciation ki chuskoku..rental breakeven aythe chalu. Positive cash flow aythe inka manchidi

[AnandaVivek]

40 minutes ago, Pencil_Rubber said:

Thanks buddy .... I'm not expecting x5 times return on the property. As long as I can rent and have the house pay for itself then I'm fine as it add equity to the property. 

Regarding access to Domain, I saw it is 16 miles to Domain. I have not seen the roads in Austin. Is it too hectic to travel to Domain? 

Any comment on the rent buddy? Is it easy to rent properties?

16 miles ante..you are not buying for the domain crowd.. period. It will rent for sure. Are u doing cash payment? If not please do calculations for interest rate plus property tax and subtract possible rent for 14 months.for an year. 

[AnandaVivek]

43 minutes ago, Aquaman said:

good school zone and location are more impt ..

23 years old should be fine.. as long as roof, ac are good.

Not sure about that. In texas there is land all over..people don’t prefer those houses when u want to resell unless ur lot is an half acre

[Pencil_Rubber]

23 minutes ago, Sreeven said:

South florida lo ekkada

Weston area buddy

[Pencil_Rubber]

18 minutes ago, Guest said:

Appreciation ki chuskoku..rental breakeven aythe chalu. Positive cash flow aythe inka manchidi

yeah buddy .... rental breakeven ee chustunanu .... 370K ante manchi deal anipinchindi .... I have to pay $200 from my pocket after taxes, interest rate (~7%), home insurance and everything. When the interest rates go down then I will see positive cash flow. 

[Pencil_Rubber]

18 minutes ago, AnandaVivek said:

16 miles ante..you are not buying for the domain crowd.. period. It will rent for sure. Are u doing cash payment? If not please do calculations for interest rate plus property tax and subtract possible rent for 14 months.for an year.

ledu bro .... loan ee .. kani 30% down anukuntunanu and 7% interest rate ki $200 padutundhi out of pocket after all txaes and everything .... future lo rent perigna or interest rates tagina positive cash flow vastadi appudu 

 

370K ki SFH 4/2.5 2500 sq ft SFH ante ne koncham tempting ga vundhi