Anyone in the San Antonio market have experience investing in the 78207 area of town? Looking at a property in that area that has been on the market for a couple months, looking for some insight from folks that have experience in that area with rentals.
The west side of San Antonio close to downtown is kinda rough. Rents are a little lower than other parts of town. Sales take quite a bit longer as there is not a large pool of buyers.
Right now if you are looking at the MLS and something is on the market a few months then something is wrong. They are way overpriced or some major issues with the house. Either way you should be looking for big discount.
Thanks for the insight!
Totally agree with Rick.
I have a property on the near West side, and would like to buy more, so I keep a close eye on listings in 78207. Most of the properties listed are both in poor condition and overpriced. Then, when you do find that gem of a property, be sure to check out the neighbors on the street. It is very hit and miss.
@Kyle Zochert Thanks for the input. That is what I have been finding as well, very few good properties surrounded by some that need a lot of work. Where near the west side are you invested?
I'm just East of Alazan Creek close to the Cattleman Square.
I’ve found San Antonio is very random. The different sides of town have their specific demographics, and that of course affects housing quite a bit. But I’ve also found within some of those demographics a few hidden “good” spots. Our above gentleman are absolutely correct in what they’re saying, but nothing beats driving through and laying eyes on the neighborhood just in case it’s one of those hidden gems.
What's your strategy. I have had great success over the last 7 years in that zip code. I've bought and held rentals, owner-financed properties, wholesaled, & wholetaled. There are definitely good deals to be had in this area, and if your strategy is rental or owner-finance, you can do quite well.
As @Rick Pozos mentioned, if it's listed, and it's been on the market a while, it's likely overpriced, has a major issue(s), or the surrounding area is so bad that it's driving buyers away. I'd keep an eye on the MLS, but you're more likely to find a good deal "off market." This is a great area for reverse searching absentee landlords & vacants; checking the code compliance & back taxes lists, as well as driving for dollars.
@Seth Teel I am looking to rehab, rent and hold. Thanks for the insight! Definitely going to keep this area on the radar.
@Mikk Phillips Completely agree with you, noticed that kind of variability when I lived there. Since I moved out, heard a lot has changed, which is why I am soliciting information about certain areas like this one since I can't drive the neighborhoods my self. Thanks for the input!