Just got off the phone with someone calling me about homes in Barton Hills, Austin TX. A Duplex, actually. This person was wondering why after making a spontaneous move to Austin from CA at the peak of the real estate market in 2006 and purchasing the first duplex she saw, for more than it was worth, why now 4 years later, she hasn't made any money on it. Actually, homes in Barton Hills, Austin TX have appreciated quite a bit in the past four years - but as I explained to her - to be a savvy real estate investor you really need to make your money going in. That is, buy a property that is undervalued or needs a little bit of work or has some sort of problem that can be solved, so that, later, you won't be out any money no matter what happens to the market.
Barton Hills is a great neighborhood in Austin, TX. I love it not only because I live there, but also because of it's close proximity to Austin's many greenbelts, closeness to Zilker Park and how quickly you can get downtown- just a 5 minute drive to all of the amazing nightlife, restaurants and cool stuff downtown. I'm lazy and don't even bother leaving the neighborhood to find cool restaurants. I look no further than South Lamar Blvd., which as some of the best restaurants - from taco joints to Artz BBQ to fine dining at places like Olivia and Uchi. I
Most of the homes in Barton Hills are 70s-style ranch homes on larger lots (at least 1/4 acre). They were well built at the time and except for a little foundation settling, they were built to last. Prices in Barton Hills homes range from $300,000 to more than $1 milliion.
Warmly,
Wendy
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