Long Distance Investing: San Antonio, TX

8 Replies

Hey all! My fiance and I are looking to purchase an investment property in San Antonio, TX by the end of the year for no more than $100k. We're currently located in Los Angeles, CA, but through some research and feedback from friends, we have decided that the SA market may have better investment opportunities for us at this time. 

I was hoping to hear feedback from people who have recently closed deals in SA who could recommend areas of interest where we may find great leads. 

Further, we are looking for ways to better entrench ourselves in the SA market. For those who are currently investing in SA, any suggestions for groups or clubs we may join to meet people in the market; or relevant conferences in the market that are recommended for us to attend?

I know this is a lot of asks, but any feedback will be greatly appreciated!

Originally posted by @Rick Pozos :

100k is not going to get you very much in SA. In fact, it will get you a pretty rough house. Are you sure that you want a c/c- property out of town??

What would you say is a respectable budget for SA? I'm open to other markets, but am still researching. I've heard good things about SA, but am not wedded to that market. 

I live in Los Angeles, and seem to be cashed out of the real estate market here (at least with respect to my goals); so I am looking at long distance investing where (at the very least) properties are cheaper and the cost of living is more forgiving.

 

The prices are definitely cheaper here than LA, but we are kinda over priced right now. Unless you have been doing some good marketing to find some deeply discounted priced properties, you are going to overpay. But that is kinda in all markets right now. Just because a house costs less than it does in LA does NOT mean that it is a deal. You have to look for properties that are cheaper relative to surrounding properties.

Originally posted by @Rick Pozos :

The prices are definitely cheaper here than LA, but we are kinda over priced right now. Unless you have been doing some good marketing to find some deeply discounted priced properties, you are going to overpay. But that is kinda in all markets right now. Just because a house costs less than it does in LA does NOT mean that it is a deal. You have to look for properties that are cheaper relative to surrounding properties.

That's the plan (i.e., looking for properties that are cheaper relative to surrounding properties in a long distance market). Thanks for your insight! 

@Sheila Ongwae  You can use your 100k  on a couple of down payments. How are you going to finance your purchase? If you have 100k cash you may only get one property if you use it all and a lower end property at that.

If you can find someone to Owner carry that may be idea. Are you looking for equity build up and retirement funds or cashflow? 

If your working on equity build up and a retirement plan then one idea you may consider is buying from an investor that will carry the note. For example if you have a good down payment and was simply wanting the property to cash flow enough to cover the debt service, insurance, and Property management then some investors may be willing to forgo a long term rental in order to get some of their profits upfront in the form of a down payment and make a little monthly cashflow.

I personally have been willing to leave a little meat on the bones so to speak in order to get some of my capital back faster so I could keep the buying machine turning, by owner carrying some of my houses to investors. I make the most profit  Owner Financing to Owner occupants, but if someone came along at the right time with a good down and wasn’t a tire kicker then let’s do business. It easier to owner finance to an investor with less qualifying after dood Frank.

Best regards 


Originally posted by @Joel S. :

@Sheila Ongwae You can use your 100k  on a couple of down payments. How are you going to finance your purchase? If you have 100k cash you may only get one property if you use it all and a lower end property at that.

If you can find someone to Owner carry that may be idea. Are you looking for equity build up and retirement funds or cashflow? 

If your working on equity build up and a retirement plan then one idea you may consider is buying from an investor that will carry the note. For example if you have a good down payment and was simply wanting the property to cash flow enough to cover the debt service, insurance, and Property management then some investors may be willing to forgo a long term rental in order to get some of their profits upfront in the form of a down payment and make a little monthly cashflow.

I personally have been willing to leave a little meat on the bones so to speak in order to get some of my capital back faster so I could keep the buying machine turning, by owner carrying some of my houses to investors. I make the most profit  Owner Financing to Owner occupants, but if someone came along at the right time with a good down and wasn’t a tire kicker then let’s do business. It easier to owner finance to an investor with less qualifying after dood Frank.

Best regards 

Thanks for your response! My fiance and I are looking for MFH and our goal is to receive cashflow (~$200/month/unit). We are still in the process of deciding what may work best for us (given our goals and capital) as far as financing. 

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