New Member - New Braunfels - San Antonio - Rookie

New Member - New Braunfels - San Antonio - Rookie

New Braunfels, TX · Member since 2016 · 10 posts · 0 votes
Howdy! I am an Aggie so we are more than obligated to lead with that greeting! If that hasn't told you enough about me already; I am a graduate of Texas A&M about 7 years ago and have been working in the Commerical Construction industry as a Project Manager in Dallas/Houston/San Antonio. I married my college sweetheart who is from New Braunfels and was blessed to settle down here with her. I am involved in construction sales & operations on a daily basis and have a high level of understanding on how the business operates, specifically the mechanical aspect (my specialty). However after all of the dollars and cents I look at on a daily basis this doesn't answer any of my questions or provide enough confidence in myself to immediately start investing. After numerous PodCasts I have decided that why not? I network for the construction business all the time, it only makes sense for real estate to operate the same. I realize there are endless pitfalls and lessons learned and I want to grasp as much of these as possible using Bigger Pockets. My goals: ideally I would like to own and rent 5-10 SFR's in the next 4-5 years depending upon loans, rates, cash flow etc. Secondly I would prefer these properties to be in the New Braunfels and/or San Marcos markets but after some light research it looks like my first go of it might need to be San Antonio. Any advice for these markets? Places to stay away from? Thoughts on getting a partner and creating an LLC ? Manage yourself or pay a manager? I have the resources to do rehab easily due to my industry contacts but my shortcomings are: loans, property management, leases, finding unlisted properties etc. Thanks!
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  • Investor · Coppell, TX · Member since 2008 · 2k+ posts · 646 votes
    10y

    Hello and welcome to BP!  You will probably do well in any area mentioned.  The whole state of Texas is close enough to Mexico that it will probably do well for years to come.  I am from and raised in Dallas Texas and I never really felt much during national recessions and I was born in 1956.  San Antonio is a good place but you might do well in San Marcos because of the college, it's hard to know which will be better because they are both doing well.  Just know that mistakes and fear are pretty normal.  Just learn from them and think of a positive manner to take.  Being an Aggie veteran should help you.  Just be patient and consistent. You can manage the first couple of units you buy. The best thing you can do is to let an experienced property management company that proves to us that good customer service would be ideal.

    I am 59 years old and I have a little bit of experience in both construction and real estate.  I went to college at North Texas University and got a degree in business that emphasized real estate.  In that same year that I graduated, in 1980, I got a real estate broker license and I held it for about 30 years.  Reguardless of what I had I felt more comfortable in construction.  I have been in the construction since I was 17.  My father has been a real estate broker for about 40 years and he has taught me a little bit.  He did that full time.  If you think that I can help you please contact me through BP at any time.  Good luck!

  • Residential Real Estate Broker · San Antonio, TX · Member since 2016 · 506 posts · 311 votes
    10y

    @Stephen Oakes welcome to BP!  About half of my manger portfolio is in NB and the rest from there all the way across San Antonio.

    Let me know if you have a question.

  • Insurance Agent · San Antonio, TX · Member since 2016 · 100 posts · 36 votes
    10y

    @Stephen Oakes Welcome to BP! Like you I'm just getting started here in South Central Texas. I have a long sales background and am just starting my 2nd month of directmail marketing, but I don't know much at all about construction, contracting, or swinging hammers! It appears we have very similar goals and different strengths. Maybe we can chat over coffee sometime in the up coming week. My contact info is below. 

  • Investor · San Marcos, TX · Member since 2015 · 272 posts · 360 votes
    10y
    Welcome to BP, if you ever need anything let me know. Even if it is just a second opinion.
  • New Braunfels, TX · Member since 2016 · 10 posts · 0 votes
    10y
    Thank you all for the warm greetings and offers to help!
  • Multifamily Lending · Dallas, TX · Member since 2014 · 55 posts · 21 votes
    10y
    Howdy Ag, Class of '05, work in multi family lending, and with similar ideas/goals to you. Used to live in north SA, now in north DFW. PM me sometime if you want to chat. James
  • New Braunfels, TX · Member since 2015 · 2 posts · 0 votes
    10y

    Howdy! My wife and I are class of '08 and live here in New Braunfels as well...it sounds like we are in the same position although I wouldn't shy too far from the high prices here. The rent comps and shortage of rentals I believe make it possible. It's just difficult to beat out owner occupants and most deals end up going to a bidding war. I just lost one that I offered over list price. 

  • New Braunfels, TX · Member since 2016 · 10 posts · 0 votes
    10y
    Interesting. If you don't mind me asking where is your capital coming from to buy in NB. Personal, private lenders, or bank loans? Any good recommendations for NB based financiers?
  • Investor · San Antonio, TX · Member since 2015 · 61 posts · 7 votes
    10y

    Welcome to BP, Stephen!  I think you'll find this site and everyone on it very helpful.

    There's a Meetup that I'll be going to tonight that you may also find very helpful. It's put on by the Alamo REIA and it'll be at Grady's Barbecue at 6510 San Pedro from 6pm to 8:30pm. The topic is going to be Buy and Hold Strategies.

    Also, I work for a wholesale company in the area and we frequently acquire properties in New Braunfels and San Marcos as well as San Antonio.  Contact me if you'd be interested in hearing about these and/or all future opportunities.

  • Wholesaler, Rehabber and Landlord · San Antonio, TX · Member since 2014 · 2k+ posts · 2k+ votes
    10y

    @Stephen Oakes you are going to find deals OFF MLS. MLS is really for the retail buyer. You have to do some marketing or driving for $$. Dont go to the BIG wholesalers either, they will pad the price so much that there will be nothing left for you.

    Do your own research on every deal presented to you and ask for several opinions from non interested parties before commiting funds to a deal. You should never feel rushed into doing a deal.

  • New Braunfels, TX · Member since 2016 · 10 posts · 0 votes
    10y
    Wow great info Rick. I'll look into your second Wednesday dinner meetings for April. I have a lot of "how" questions to ask someone like yourself. Unless you would suggest otherwise. Thanks again for your feedback regardless.
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