San Antonio TX 6-8plex Old Brick

[Steve Watson]

I am an CAli investor considering a out of state 2-8 apartment building in San Antonio TX. I will hire property mgt. 

I noticed a lot of brick and old places. Should I be cautious about repair cost in that seasonal climate or geo area? A living place is a living place. Roof, HVAC, Plumbing & fixtures, Doors & Locks. floors, paint, etc..

Also being such a populated city (over a million people) does a bad economy take vacancies up and rents down more so than a less populated. What do you think about San Antonio's economy? Growing and more affluent jobs?

Where can I learn more about San Antonio real state investment?

[Ian R.]

Steve Watson

San Antonio is booming right now and will be for years to come. We also have a very diverse economy here primarily anchored by the multiple military installations which have kept San Antonio very stable. Currently, the city leadership is making a push to bring more high paying tech jobs to the city. For example, Rack Space is based here. Hulu is getting ready to set up shop and Microsoft is building a new data center on the west side of the city.

I would just caution you about 2 things:

1. The property taxes here are high since there is no income tax in Texas. That can be a challenge for out-of-state investors.

2. We have issues with expansive soil here. Many properties that you will encounter will quite possibly need foundations repair. So be sure to do your due diligence or have a team with boots on the ground that can.

Best of luck to you