Off-Topic, Looking for a place to live in Austin?
#11
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Tex, those are some good prospects that you've got. The problem for me is that I'm not in town, so projects are really hard to manage, I have to find things that are inexpensive and ones that I can actually afford to have empty worst case scenario. I'm definitely going to look to the east and around Pflugerville, great tip.
The property taxes in Williams County are dirt unlike here in CA. It isn't worth it really anymore trying to find property here in San Diego, everyone does real estate in some form.
I have a buddy here in SD that started out in El Paso, but his strategy was very different, he really isn't into flipping. He's up to 100 houses now, and his goal is to have them paid off, so that he can draw capital when he retires at 39. So he's shopping for the cheapest properties that he can find so that he can get them paid of over time.
I don't quite know what I want to do yet, all I know is that whether or not I rent this house out in Taylor, it is worth the tax breaks for me. But if I rent it out for even just $1000/month, I'll be in the black. I think that .43/ft is reasonable.
I'm looking 2-3 years down. When that AMD plant is in full swing and you've now transplanted all of those Northern Cal suburbanites, with 8-900k in equity, in the Austin area, it will all go up. The demographics are pretty good, comparative to San Diego, Phd per capita, BAs per capita, racial profile, and average weather, seems all prime for those looking to cash out of CA. I could be very wrong, but at the prices these homes are running, not a very big gamble.
The property taxes in Williams County are dirt unlike here in CA. It isn't worth it really anymore trying to find property here in San Diego, everyone does real estate in some form.
I have a buddy here in SD that started out in El Paso, but his strategy was very different, he really isn't into flipping. He's up to 100 houses now, and his goal is to have them paid off, so that he can draw capital when he retires at 39. So he's shopping for the cheapest properties that he can find so that he can get them paid of over time.
I don't quite know what I want to do yet, all I know is that whether or not I rent this house out in Taylor, it is worth the tax breaks for me. But if I rent it out for even just $1000/month, I'll be in the black. I think that .43/ft is reasonable.
I'm looking 2-3 years down. When that AMD plant is in full swing and you've now transplanted all of those Northern Cal suburbanites, with 8-900k in equity, in the Austin area, it will all go up. The demographics are pretty good, comparative to San Diego, Phd per capita, BAs per capita, racial profile, and average weather, seems all prime for those looking to cash out of CA. I could be very wrong, but at the prices these homes are running, not a very big gamble.
#12
My $.02...I'm much rather invest in Pflugerville than Taylor. Taylor might have more upside potential due to 130, but it's also a greater risk. Pflugerville is a great loc. to commute into Austin/RR from and is relatively cheap, so it shouldn't be hard to keep properties occupied there.
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tcho82
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10-20-2006 08:39 PM