San Antonio Investments?

Question

Does anyone have any experience investing in the San Antonio area or considering it?

Kerry Thompson · Answer

@Robert Neal we’re in the process of closing on our first investment property.  Really excited!

Robert Neal · Answer

@Joe S. Hi Joe! Thanks for reaching out.

Generally looking for cash or hard money buyers. Experience level is completely irrelevant to me, I’m just as happy to work with a first time investor as I am someone who does it for a living.

I work with a lot of distressed single and multi family homes primarily but also do vacant land as well for my developers!

Trevor Aydelott · Answer

I'm hoping to purchase my first San Antonio property this Wednesday,  that is when I find out.

Robert Neal · Answer

@Pearl Cook

Good morning Pearl!

To go the hard money route I would say a minimum of $30k cash to play it safe. There are absolutely deals out there to where you can do it with less cash but the last thing you want to do is put yourself in a bind. Most hard money lenders are going to lend 70% of the ARV then hold back the estimated rehab for draws. This means you’ll need to come up with the difference to cover the purchase cost, have the cash on hand for closing costs, taxes, and interest, as well as a cash budget to cover the construction/rehab draws.

Pearl Cook · Answer

@Robert Neal thanks so much for the insight. I’ve been trying to get educated with the different ways to finance a rehab property but it’s good to hear actual numbers.  I’d love to stay connected.  We’re finally making the move to San Antonio next month.

Pearl Cook · Answer

@Robert Neal I have no experience in purchasing for the sole purpose of investing. So far it’s been by happenstance but I would like to get started this year.

What, would you say, is the minimum amount of money I should have reserved to either be a hard money lender or be able to purchase a distressed property with cash? I would really like to find a multi family.

Pearl Cook · Answer

@Terri Lou

Hello Terri, we purchased an 1180 sq ft 3 bed 2 bath home on the west side of town with the intent to live in it for a year then rent it out. Because we moved here for work we were in a bit of a time crunch so we focused on getting something that would keep our mortgage as low as possible to allow us to save money this year while also ensuring there would be cash flow when we move out.

What kind of properties do you invest in and what are you goals; equity or cash flow?

Terri Lou · Answer

Pearl, I live in the Austin area but invest in your area. Have you bought anything yet?

Joe S. · Answer

What kind of buyers are you drumming for?

Robert Neal · Answer

@Kerry Thompson I haven’t started personally investing but definitely have every intention to within the next year or two. There’s so much potential around San Antonio and the hill country in general!

Right now I work with buyers and help them find great investment opportunities!

San Antonio Investments?

Most Popular Reply