New to Real Estate · San Antonio · Member since 2021 · 5 posts · 6 votes
Good afternoon, brand new to the BP websites and was wondering if anyone had some insight. The SA market is so inflated I’m becoming discouraged on purchasing my second home, 30k over asking and I’m not getting any bites. I have thought about possibly purchasing a small fleet of vehicles to rent on Turo to create passive income…or should I just wait out the market!? Any feedback is appreciated
Investor · Long Beach, CA · Member since 2018 · 11 posts · 8 votes
5y
There's never going to be a perfect timing. If you scroll down the forum, people are doing deals left and right - if they can do it, what's stopping you? If there's will, there's always a way. :)
Investor · Long Beach, CA · Member since 2018 · 11 posts · 8 votes
5y
There's never going to be a perfect timing. If you scroll down the forum, people are doing deals left and right - if they can do it, what's stopping you? If there's will, there's always a way. :)
Good afternoon, brand new to the BP websites and was wondering if anyone had some insight. The SA market is so inflated I’m becoming discouraged on purchasing my second home, 30k over asking and I’m not getting any bites. I have thought about possibly purchasing a small fleet of vehicles to rent on Turo to create passive income…or should I just wait out the market!? Any feedback is appreciated
Lender · Boerne, TX · Member since 2018 · 29 posts · 28 votes
5y
Hey Adrian, it's true the market is hot & fast right now. I would approach some realtors (maybe not wholesalers until you're a little more experienced) and ask to be included in their deal flow. This market still definitely has opportunities - my wife and I just bought a deal 4 months ago for 25% below market - on a fully renovated property.
My advice is to know what you're looking for specifically so that when the deal comes along you're ready to pull the trigger with minimal analysis time.
Don't get discouraged, be patient and stay ready! This is my favorite market in TX - I count myself fortunate to live here and have several properties (both ST & LT). The long-term fundamentals of the greater San Antonio area continue to be extremely attractive in my opinion. This view is what led me from being an investor to being an agent last year.
Also, think about the "bull" case for real estate as a whole - as we continue printing paper money, real assets continue to rise in value. Arguably one of the best locations to buy real estate is TX (for a variety of reasons) and the least-inflated metropolitan market in TX is right here. Compare our prices to DFW, Houston, Austin and you start to see a lot more value.
Investor · San Antonio, TX · Member since 2017 · 344 posts · 268 votes
5y
As someone who has played around with Turo in the past, I wouldn’t recommend it. I had cars stolen on multiple occasions, cars left in random locations, etc. Turo also regularly changes their terms and it’s never in favor of their hosts.
In general I would be cautious of any strategy that is dependent on some third party system. (I.e. Turo, Airbnb, etc).
It’s difficult to deals on the mls, your best bet is learning to source your own deals or working with those who do.
If you are looking to invest into real estate, I have found this site to be most beneficial. The best part is that everyone here is excited to help you learn and grow into real estate investing. From real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance, you will find that many members here are very knowledgeable in their respective fields.