My First Real Estate Investment

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My First Real Estate Investment

Kate Luna
Investor · San Antonio | Austin | Dallas | Houston · Member since 2025 · 44 posts · 21 votes

Hello everyone! I am embarking on my first real estate investment in the San Antonio area. I'm undecided about a 2 unit or 4 unit, and am starting to look at properties before applying for my mortgage in January. Glad to be here and connect with others in the real estate investment world. 

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Aaron ZimmermanBusiness Member
Accountant · Chicago, IL · Member since 2018 · 2k+ posts · 1k+ votes
9mo

Welcome! I would definitely consider house hacking as your first investment. How much do you have saved up? 

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  • Jaycee GreenePro Member
    Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 727 votes
    9mo
    Quote from @Kate Luna:

    Hello everyone! I am embarking on my first real estate investment in the San Antonio area. I'm undecided about a 2 unit or 4 unit, and am starting to look at properties before applying for my mortgage in January. Glad to be here and connect with others in the real estate investment world. 

    Hi @Kate Luna, welcome to the BP Forum! Are you planning to "house hack"?

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    0Reply
  • Ezekiel Trevino
    Realtor · McAllen, TX · Member since 2025 · 141 posts · 58 votes
    9mo

    It depends if the numbers make sense. If you plan to house hack, I would pick a four-plex or maybe a tri-plex. But do some due diligence and make sure the property is a good deal.  

    0Reply
  • Aaron ZimmermanBusiness Member
    Accountant · Chicago, IL · Member since 2018 · 2k+ posts · 1k+ votes
    9mo

    Welcome! I would definitely consider house hacking as your first investment. How much do you have saved up? 

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  • Melanie ThomasBusiness Member
    Real Estate Broker · San Antonio · Member since 2022 · 1k+ posts · 490 votes
    9mo

    Welcome and congrats on getting started! One piece of advice early on is to connect with a local, professional property manager to get realistic rent expectations before you finalize numbers or apply for financing. I see a lot of new investors come in with rent projections that are way higher than what the comps actually support, which can throw off the whole deal.

    It’s also worth paying close attention to whether the units are separately metered for utilities, especially with small multifamily. That can make a big difference in cash flow and long-term management. Good luck & happy investing!

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  • Jules Aton
    MD/DC · Member since 2024 · 1k+ posts · 1k+ votes
    9mo

    Definitely read and ask questions here. More doors more personalities.@Melanie Thomas point about utilities is a good one. I don’t want to pay for or share utilities. Things like noise from above, smoking, parking, the dreaded shared yard are all important considerations. Perhaps the biggest concern for me with multifamily is ease of resale. 

    0Reply
  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    9mo

    @Kate Luna

    Welcome to BP!

    I think you are in a great market to begin. I must say depending on your financing plan, a 2-unit is a simple first step with less management, but of course a 4-unit in San Antonio usually offers better cash flow and scalability. Also I believe your mortgage application and offer process will go much more smoothly if you start looking early and understand the rents, neighborhoods and numbers.

    Good luck!

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  • Kate Luna
    OP
    Investor · San Antonio | Austin | Dallas | Houston · Member since 2025 · 44 posts · 21 votes
    9mo

    Thanks for the warm welcome @Jaycee Greene! I am considering house hacking. It might help me maximize my personal finances.

    0Reply
  • Kate Luna
    OP
    Investor · San Antonio | Austin | Dallas | Houston · Member since 2025 · 44 posts · 21 votes
    9mo

    Thanks @Ezekiel Trevino! That's a good point, I'll make sure the numbers are closely reviewed before I invest.

    0Reply
  • Kate Luna
    OP
    Investor · San Antonio | Austin | Dallas | Houston · Member since 2025 · 44 posts · 21 votes
    9mo

    I'm considering house hacking. If possible, I'd like to do zero down out of pocket. I'm exploring creative financing methods for my down payment. @Aaron Zimmerman

    1Reply
    • Jaycee GreenePro Member
      Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 727 votes
      9mo
      Quote from @Kate Luna:

      I'm considering house hacking. If possible, I'd like to do zero down out of pocket. I'm exploring creative financing methods for my down payment. @Aaron Zimmerman

       @Kate Luna What do you consider to be "creative"?

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    • Kate Luna
      OP
      Investor · San Antonio | Austin | Dallas | Houston · Member since 2025 · 44 posts · 21 votes
      9mo
      Quote from @Jaycee Greene:
      Quote from @Kate Luna:

      I'm considering house hacking. If possible, I'd like to do zero down out of pocket. I'm exploring creative financing methods for my down payment. @Aaron Zimmerman

       @Kate Luna What do you consider to be "creative"?


      Anything that is not a traditional hard money loan. I'm looking for outside the box ways to fund this deal. I don't have 20% down to put toward a $700K or $800K investment, but the DSCR loan is a nice option if I did have those funds for the down payment...

      0Reply
    • Jaycee GreenePro Member
      Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 727 votes
      9mo
      Quote from @Kate Luna:
      Quote from @Jaycee Greene:
      Quote from @Kate Luna:

      I'm considering house hacking. If possible, I'd like to do zero down out of pocket. I'm exploring creative financing methods for my down payment. @Aaron Zimmerman

       @Kate Luna What do you consider to be "creative"?


      Anything that is not a traditional hard money loan. I'm looking for outside the box ways to fund this deal. I don't have 20% down to put toward a $700K or $800K investment, but the DSCR loan is a nice option if I did have those funds for the down payment...

       @Kate Luna If you're going to house hack a fourplex, you can do that using an FHA loan, which only requires a 3.5% down payment.

      [email protected]
      0Reply
    • Kate Luna
      OP
      Investor · San Antonio | Austin | Dallas | Houston · Member since 2025 · 44 posts · 21 votes
      9mo
      Quote from @Jaycee Greene:
      Quote from @Kate Luna:
      Quote from @Jaycee Greene:
      Quote from @Kate Luna:

      I'm considering house hacking. If possible, I'd like to do zero down out of pocket. I'm exploring creative financing methods for my down payment. @Aaron Zimmerman

       @Kate Luna What do you consider to be "creative"?


      Anything that is not a traditional hard money loan. I'm looking for outside the box ways to fund this deal. I don't have 20% down to put toward a $700K or $800K investment, but the DSCR loan is a nice option if I did have those funds for the down payment...

       @Kate Luna If you're going to house hack a fourplex, you can do that using an FHA loan, which only requires a 3.5% down payment.


       I'll check this out. Thank you for the suggestion.

      House hack is a backup option. If I can find another way to get this real estate deal done, that would be ideal. I'll continue my research.

      0Reply
  • Kate Luna
    OP
    Investor · San Antonio | Austin | Dallas | Houston · Member since 2025 · 44 posts · 21 votes
    9mo

    Thank you for the warm welcome! That's a great point @Melanie Thomas! I'm going to research and connect with San Antonio property managers as I review the numbers to ensure realistic expectations! Wonderful advice!

    0Reply
  • Kate Luna
    OP
    Investor · San Antonio | Austin | Dallas | Houston · Member since 2025 · 44 posts · 21 votes
    9mo

    Good point, @Jules Aton! I am doing a buy and hold strategy so immediate resale isn't a concern but long-term I definitely have to keep that in mind. Thanks for the tip!

    1Reply
  • Kate Luna
    OP
    Investor · San Antonio | Austin | Dallas | Houston · Member since 2025 · 44 posts · 21 votes
    9mo

    Thank you for the warm welcome @Wale Lawal! Nice to see you are in Texas also! 

    It's definitely a balance of higher cash flow vs. ease of management stress. I'll need to do a lot of research to make sure the property is a good investment before I move forward. Thanks for the wisdom!

    1Reply
  • Adekunle Babatunde
    Investor · Dallas, TX · Member since 2026 · 52 posts · 9 votes
    8mo

    It all depends on the numbers even if the house is looking good. You have to work on PITI before investing.

    0Reply
  • Terrance HillPro Member
    Realtor · Memphis, TN · Member since 2010 · 425 posts · 117 votes
    8mo

    Hi Kate,

    Welcome to BiggerPockets! Exciting that you’re diving into your first investment. Both 2-unit and 4-unit properties have their pros and cons, so it’s great that you’re starting your research early. I’d love to connect and swap insights about the San Antonio market, especially as you narrow down your options.

    0Reply
  • Bo SmithPro Member
    Hinton, WV · Member since 2026 · 1k+ posts · 373 votes
    8mo

    Welcome to the game! San Antonio's solid for multifamily. One thing I wish I knew starting out - don't just look at cap rates and cash flow. Walk the neighborhood at different times, talk to current tenants if possible, check how long units stay vacant. 4-units give you more income diversity but higher management overhead. What's driving your timeline to wait until January for the mortgage?

    0Reply
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