@Lucas Carl San Antonio is a great market but it is hot like everywhere else. Lots of competition with lots of buyers and few sellers. 1% deals are possible but few and far between, unless you are willing to do a rehab or buy in the rougher areas of town. Even then you will have to do your own off market marketing and will not find deals like that on the MLS. I would recommend making connections with people in the local area and taking the time to drive around yourself and see the sides of town and what the areas look like. I've seen out of state/area landlords get screwed way too often because they either overpay or leave their property in the hands of someone who isn't honest, ethical and trustworthy. Do your due diligence on the people you will be working with as well as the property and the market. Feel free to reach out if you are ever here or have any questions on the market! There are still deals but you are having to do a lot more marketing and put in more effort to get that same deal. Good luck brother!
Well that’s a decent reply. If it were Nashville it would go like “Run. Run far. You’ll lose money here”
I'm interested in the San Antonio and surrounding area as well. If you are looking and have interest to get into new construction I'm looking for a contractor in the area as well as other partners. Please take a look at the project in my bio if you want to further discuss.
What's your current strategy with he 5-star reviews if you done mind me asking?
@John De La Garza I’m not sure what your question is but I have vacation rentals in pigeon forge/Gatlinburg that I self manage. I do all of the work from my phone and most of it while on the toilet. 250k cabin will gross 40k per year sometimes 45. Big bucks but I’ve got too many of them I need more long term rentals.
Howdy Lucas! We just moved back to Texas after two years in Nolensville after three years just outside of Memphis. We love the San Antonio area, but it has been much more of a challenge to find long term rentals that cash flow to my target. I figured that when I got out of the hot Nashville market I would be able to invest locally with no problem. It is not impossible, but it takes a lot of work to find deals that generate more than a 10% cash on cash return. I recommend continuing to network because that is how you are going to find the deals.
Deals are out there, but harder to find than even a year ago. Reach out to some brokers and network. I'm focused on MF but have sniffed out some deals that are okay - so long as they have steady performance, I'm good.
@Lucas Carl you mentioned in your OP "The stress of the 5 star review is too much." I was just wondering if you have a strategy around that.
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