With SA's high property tax rates, is it rare to have a newer rental home in Class A/B areas / good neighborhoods/decent schools with positive cash flow?
(Just moved to SA and looking for long-term buy-and-hold SFR with cash flow (no crazy high cap rates needed) in decent neighborhoods/schools. Not familiar with this area. I'm not yet into any major rehab work. An agent mentioned he buys up mainly newer homes including new builds. Been running rent, expense, mortgage, COC #s and keep coming up with neg or 'no-cushion' trump change cash flow for homes if they are 200k+. Not sure how some of these investors are making any cash flow after some analysis on their house value, expenses, and projected rental income. It feels like you can't have a sufficient monthly cushion unless you find a cheaper house that requires more rehab. Didn't want to jump into the BRRRRR yet. Maybe I'm not tapping into the right areas yet.
I've been talking to investors on BP, a couple agents and PMCs over the past few months and they've been throwing out a ton of different pockets of areas. New Braunfels, NW, 'outside of 1604' ...there was also some talk about Dignowty (but getting the hunch to stay away for now), Windcrest...Converse, Kirby. I'm still working my way down this list of suggested areas to figure out where the numbers will start working with my criteria.
Converse might have some B class areas that match what you are looking for. Perhaps in the Meadowbrook neighborhood, unless prices have appreciated too much since I lived there a couple years ago.