San Antonio, TX · Member since 2017 · 2 posts · 0 votes
Hello , biggerpockets
I am new to all of this, so heres my question does anyone a good realtor that understands investors frame of mind in SanAntonio, Texas.
Im looking for a Duplex around 125k or less
in an area that rents for 800 or better
@Rafael Diaz. If it were only that easy... what Tyler Roicki is telling you is true, especially if you are looking at MLS deals. The only way I've found to get that kind of ratio is by forcing the appreciation. You have to find something that you can add value to in order to make it profitable. There's lots of ways to do that. I suggest listening to BP podcasts and reading everything you can from successful investors on this site. Good luck to you!
However, there isn't anything on the market currently that meets that criteria. Feel free to reach out if you'd like to talk more about finding on market investment properties locally.
@Rafael Diaz. If it were only that easy... what Tyler Roicki is telling you is true, especially if you are looking at MLS deals. The only way I've found to get that kind of ratio is by forcing the appreciation. You have to find something that you can add value to in order to make it profitable. There's lots of ways to do that. I suggest listening to BP podcasts and reading everything you can from successful investors on this site. Good luck to you!
Shawn Y. That answer varies widely. It really depends on what part of town. The question tells me you haven't done much searching yet. I believe it's critical to start doing your own research. Scour the listings and begin formulating a plan of what you are looking for and where you feel comfortable owning. For a general answer though, most duplexes list at the 1 percent mark. It's higher in rougher areas and lower in nicer areas. You can have two B properties in terms of condition but depending on where they are will make the price vary tremendously and rents will vary accordingly as well.
Keep asking questions here Shawn, as well as doing your research. I have noticed an increase in used multi-family unit hitting the market over the last 30 days so there are out there.