Thanks in advance for all replies.
I have family in San Antonio and a person we know is considering liquidating a property in order to obtain duplex in another city. The property is a 2/1 SFH in the 600 block of Sterling. It is currently rented with a one year lease for $650 a month, property mgmt in place. Using "rules" and cap rates, etc., and all the good stuff I've learned from BP, I have a good idea of what I should pay for it to make it a profitable investment over the longterm.
My questions are more to the property location, potential rental pool (military? straight market or subsidized?, etc), is this a cash-flow only area or is their the potential for appreciation, etc., and if people can give me their thoughts on the area. Clearly the seller has his/her opinions to it - looking for feedback from those in San Antonio who can share their thoughts without bias.
I will do Google searching tonight when I get home but if anyone knows of internet resources to use to check out San Antonio properties, I'd appreciate the information. We have a free website up here in MD that shows MLS listed and solds with listing pictures, etc., and a lot of data one would expect in the MRIS . .. which allows one to essentially run their own comps pretty effectively.
Again, thanks in advance!
I left you a VM. I'm somewhat familiar with the area and have some atypical insight. This is not a military area of town. I wouldn't expect appreciation here either. Feel free to call me.
Not my favorite area of town. I agree that it isn't going to attract military. I would go there if I managed it but wouldn't send my wife there. If you buy it, buy it CHEAP! Not an area I would expect appreciation.
This is all said without knowing your strategy. I am not judging but I like a little nicer properties that are still blue collar. Some do great with these types of homes I am sure.
My knowledge is as a firefighter/paramedic more than as an investor, FYI. Good luck.
I've done about 5 minutes of research on BP which validates the above comments about the East Side.
Thanks @Jeff Brown for chatting the other day. Definitely helped verify some thoughts on the area. I can find better asking up the road in Baltimore for essentially the same situation.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.