$1,209.54 to Invest - San Antonio, TX

Flipper · San Antonio, TX · Member since 2016 · 101 posts · 17 votes

I've spent the last few weeks reading & listening to stories & wisdom to get my start in real estate investing. My simple plan is wholesale 3 houses, flip 1, then see where that leads. I have peeled aside $1,209.54 to start. Any suggestions on the best use of funds? I've initiated operation driving for dollars (wrapping up a project 4 hours away, so limited time currently) and I'm open to mailing to lists, but don't want to just light money on fire and call myself an investor. Any tips on the most effective place to start would be helpful.

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Eric Moore

Lender · San Antonio, TX · Member since 2013 · 88 posts · 21 votes

10y

@Matthew AllenI suggest you peel away around $3,000 to begin. This will be for marketing costs. For me, postcards are the most effective. Although you receive less calls then yellow letters, the calls you do receive are motivated. I'm an investor in San Antonio and I just put a house under contract in the Lavaca Historic District that I am going to rehab. Assuming you've had the necessary education and are ready to go, here's my suggestions.

1. Identify "hot" areas in the SA market. If you know a realtor ask them to research in MLS where there have been a lot of cash sales. Or you could also find that information via www.listsource.com (just a little more difficult). You can match that info up against the Trulia area heat map to see the hot areas.

2. Once you identify where the hot action is, I recommend you find a reputable marketing company. I go through Michael Quarles www.yellowletters.com. Give them a call and they can advise you on what marketing material Michael is currently using in his business.

2(a). You could print your own postcards instead of buying them. You can get Rick's system; http://flipwithrick.com.

3. Then get your list of sellers on

4. Once you send out mail be prepared to answer phone calls live or at the very least return phone asap because competition is high.

Hope this helps. Good luck!!

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Eric H.
Insurance Agent · San Antonio, TX · Member since 2016 · 100 posts · 36 votes
10y
hey Matt, we're in similar positions. I'll be looking to see the responses you receive. How did your driving for dollars work out?
2 Reply
Ernest Losoya
San Antonio, TX · Member since 2016 · 16 posts · 2 votes
10y
Hi Matt, my partner and I are new to this industry and we too are looking to invest. We are looking to purchase and rehab a property for profit. Keep us in mind we wish you much success!!!
0 Reply
Rose Davis
Davenport, IA · Member since 2016 · 78 posts · 6 votes
10y
Hey everybody I am in the same situation. What my plan is to get a home path home and give them 5% rent it out and then do it 4 more times because home path will give you 5 total loans and those down payments are CHEAP!!! I speak with my broker tomorrow to see what home we will put an offer on first! I have a duplex that is almost payed off and a sfh. So wish me luck!!
1 Reply
Wayne Brooks
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
10y
@Rose Davis Homepath loans no longer exist, since October 2014, and non owner occupied loans were 10% down. Non owner occupied, you're looking at 20-25% down.
0 Reply
Jeremy Hazelwood
Wholesaler · Columbus, OH · Member since 2014 · 44 posts · 17 votes
10y
I would say the best thing you can do is use that to clean up any thing that could be on your credit and go through the program www.seedcapital.com program to get funds for real estate. It changed the game for me...
0 Reply
Rick Pozos
Wholesaler, Rehabber and Landlord · San Antonio, TX · Member since 2014 · 2k+ posts · 2k+ votes
10y
You missed Vena Jones-Cox's wholesale class this weekend for only $49.00. Even a veteran like myself took a weekend class and learned a few bits of knowledge.
Just deciding to be a real estate investor does not make someone a real estate investor. There are quite a few things that you need to know to be able to wholesale or rehab properties effectively and profitably.
Wholesale: When you find a property you need to know what is the ARV. TRUE ARV, not what Zillow says, not what Trulia says. Rehab #s are important. What is the roof going to cost, flooring, new kitchen, bathrooms, etc. What are rents in the area to sell to a landlord.
Rehabbing: All of the above AND dealing with contractors. After all of that, you have to sell the property. 6% cost for a realtor or do you know what VA is going to require as far as inspections, appraisal, etc. how about FHA?
My point is get some knowledge. There is more to it than getting a property under contract and add 5k to it and sell it to one of the 100s of people who want to buy your deal. Im sorry, its just not that easy. Talk with other local investors, talk with realtors, go to SARIEA or Alamo Investors Assn. Network with others to see what they are doing and how well they are doing. It is lots of work to market to sellers.
Now to answer your question. Get some business cards, pass them to everybody that you see, ask every friend or family member if they know anyone that is behind on their mortgage, taxes or if they know someone who has a house that they do not want. Drive some more for $$ and start sending postcards or letters to the owners of all those properties. Start a list and keep sending to them month after month.
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Wayne Brooks
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
10y
@Joshua D. Spam above.
Strongbrook......MLM mentoring services.
0 Reply
Noe Garcia
San Antonio, TX · Member since 2016 · 10 posts · 3 votes
10y
that's just enough to buy a guru program :) I'm kidding, I'm in no position to be handing out advise cause I'm just getting started too. I'm just here for encouragement. I wish you success!
0 Reply
Justin Kane
Specialist · San Antonio, TX · Member since 2015 · 909 posts · 297 votes
10y
You need to weigh your position.. if you have more time than money than youre doing it right, drive for dollars, bandit signs (legally), door hangers, networking are all great ways to strike up deals with little money, I would highly recommend learning as much as you can about buying strategies as this will help you with acquisitions generating revenue for your business and then redistributing that revenue into marketing at higher tiers.
However, Real estate is such a wide field it really takes time to learn your own path and focus on building your position
1 Reply
Hattie Dizmond
Investor · Dallas, TX · Member since 2014 · 2k+ posts · 1k+ votes
10y
there's a great thread in the forums with a lot of salient advise. Search "shoestring budget"
0 Reply
Mike Jury
Investor · Plano, TX · Member since 2015 · 74 posts · 22 votes
10y
To all of you in San Antonio wanting to get started in RE, there are a couple of very accomplished wholesalers in San Antonio. One was on a podcast Podcast 144, go listen to that. Then call several of the wholesalers in the area and offer your services to them in exchange for learning the business, be an apprentice. Now all the wholesalers in San Antonio will hate me!
Save up some cash or partner with someone, who has cash, again as an apprentice, to get started.
1 Reply
Rose Davis
Davenport, IA · Member since 2016 · 78 posts · 6 votes
10y
@Wayne Brooks yep i just found out this morning when she called me ☹️Now back to square one!
0 Reply
Rose Davis
Davenport, IA · Member since 2016 · 78 posts · 6 votes
10y
@Jeremy Hazelwood i heard of seed capital before but didnt look further into it because I didnt want my credit hit. Can you tell me more about your experience with them? My credit isnt A1. My lowest score right now is 645 highest 680 and I hear you have to have really good credit to get approved. I dont have collections or anything like that so what did they require and how have they helped you grow?
0 Reply
Eric Moore
Lender · San Antonio, TX · Member since 2013 · 88 posts · 21 votes
10y
@Matthew AllenI suggest you peel away around $3,000 to begin. This will be for marketing costs. For me, postcards are the most effective. Although you receive less calls then yellow letters, the calls you do receive are motivated. I'm an investor in San Antonio and I just put a house under contract in the Lavaca Historic District that I am going to rehab. Assuming you've had the necessary education and are ready to go, here's my suggestions.
1. Identify "hot" areas in the SA market. If you know a realtor ask them to research in MLS where there have been a lot of cash sales. Or you could also find that information via www.listsource.com (just a little more difficult). You can match that info up against the Trulia area heat map to see the hot areas.
2. Once you identify where the hot action is, I recommend you find a reputable marketing company. I go through Michael Quarles www.yellowletters.com. Give them a call and they can advise you on what marketing material Michael is currently using in his business.
2(a). You could print your own postcards instead of buying them. You can get Rick's system; http://flipwithrick.com.
3. Then get your list of sellers on
4. Once you send out mail be prepared to answer phone calls live or at the very least return phone asap because competition is high.
Hope this helps. Good luck!!
3 Reply
Eric Moore
Lender · San Antonio, TX · Member since 2013 · 88 posts · 21 votes
10y
@Rose DavisDo not go with Seed Capital! They have several complaints on BBB about them. They essentially charge you money to simply open up credit cards in your personal name. That's so ridiculous! Business credit does not rely on your personal credit at all. It will totally be in your business name.
I am building business credit right now and it takes about 4-6 months to get to a point that you can access money for lines of credit. I recommend you listen to the podcast called "The Business Credit and Financing Show". He gives great advice. You can buy his course or just simply learn. But please don't go with seed capital!
0 Reply
Joe Fairless
Investor · Cincinnati, OH · Member since 2013 · 2k+ posts · 1k+ votes
10y
@matthew
@Matthew Allencongrats on getting ready to start. As @Mike Juryrecommended, getting in with some other active wholesalers in your market might be the best start. I would pay particular attention to who wholesalers are currently closing deals in your area then do that and get a couple deals under your belt.
1 Reply
Demetrius Gresham
Investor · San Antonio, TX · Member since 2016 · 16 posts · 5 votes
10y
This has been quite informative. I will keep up with this thread and continue to learn as much as I can. I attended an event with @Rick Pozos. While I'm gaining the knowledge to buy and hold, learning about wholesaling was quite beneficial. Being an apprentice or finding a mentor is the best way to go in my opinion. Someone that help you avoid some of the potholes of real estate investment.
I pray that you're successful.
1 Reply
Shabyna Stillman
Investor · San Antonio, TX · Member since 2015 · 75 posts · 14 votes
10y
@Matthew Allen, @Eric@Eric H., @Ernest Losoya Welcome to real estate investing. The advice you got from Rick Pozos, Eric Moore and Justin Kane is great advice. Business cards, attending the local REIA's and networking and education is really important. I've found that the more experienced investors are happy to help and everyone on BP are generous with their advice.
1 Reply
Account Closed
Rental Property Investor · Philadelphia, PA · Member since 2014 · 240 posts · 94 votes
9y
@Matthew Allen I found this post and wanted to add some thoughts since it is important for any beginner. Here is what I would suggest (in agreement with most people who have posted).
1. Find a partner or mentor - If you just starting and have time but not money you may be able to find a partner or mentor who you can help in exchange to get a percentage of the profit on deals. This will allow you to learn first hand while building capital.
2. Raise capital - Look for creative ways to access capital including partners, private investors, hard money lenders, credit cards, and lines of credit. All of these options will give you options to buy properties.
3. Build your skills - Spend time learning how to evaluate good deals, visit properties regularly, and if you need extra money learn a trade tied to real estate to earn money (e.g. property management, handy work, financial analysis, wholesaling, or searching public records).
Also, a number of people have talked about Seed Capital. I am working with them and I have had a positive experience. It is simply another way to get capital. However, I would not recommend it if you don't have much money (like your situation) as the program costs money to do.
0 Reply
Jeff Filali
Rental Property Investor · Broken Arrow, OK · Member since 2016 · 1k+ posts · 1k+ votes
9y
Send me $1,199 plus $10 S&H.... Just kidding!!
Listen to what @Mike Jury posted. There are many others with lots of experience in the area who would be more then willing to work with & mentor you. I do it all the time in my areas.
1 Reply
Pam Cleary
Wholesaler · Fort Worth, TX · Member since 2009 · 39 posts · 16 votes
9y
Hi Matthew There is a guy name Victor Mas who holds monthly real estate meetings and teaches. I would suggest you go to some Real Estate Investment meetings and ask for help....lots cheaper
0 Reply
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
9y
that will buy you two homes in Detroit.. and your off and running.
Podcast Guest on Show #222
JLH Capital Partners51 Review
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