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.
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