Investing in San Antonio
Hello San Antonio BP Community,
My partner and I are looking to get into the RE investment market in San Antonio. We are looking to start acquiring properties using the BRRRR method, if available, from SFR and up to a fourplex.
We are out-of-state, so any information you can provide will be greatly appreciated;
1. What are the best areas and zip codes in San Antonio? What are the average prices?
2. What is the property tax rate? Does it change based on the municipal area?
3. What is the average annual insurance premium? I know that there are flood zones, which have higher premiums than other areas.
Thanks and looking forward to connecting with you.
Wishing everyone a successful 2022!
Hey Nitzan -
1. I've had good luck in 78229 but the houses will go quick and it's more of a value hold than cashflow - I'd say $150 sqft here is a great deal. I have one property 78213 that is cash cow, I've seen some good deals in this area too around $120 sqft. If you really want to put in some work, 78202 is a good area for finding some near abandoned houses that could use some work but more of flipping area vs renting cause drugs/etc - might be a good long term hold as there are plans for that area to grow.
2. https://bexar.trueautomation.c... - that will give you the tax on a property - do note that Texas has high prop taxes and if you are looking to buy a property make sure the seller has been disputing taxes so that way you are paying WAY less than what actual taxes should be.
3. My HOI run between $800-1200 yearly which is very competitive.
Good luck brother! Feel free to reach out.
Alberto
@Alberto Moravia Thank you very much for the information, Alberto. I will research the zip codes you mentioned. Good luck to you as well!!
