I'm an investor from Israel, looking for my first investment in the San Antonio & metro area
I'm looking to buy & hold a single/two family property, with an ARV of 120-150,000$, and I want to buy this property in a bad shape for 60-80,000$ and renovate it.
and then expand more.
I'm looking to build a team (agent, rehab contractor, management company, loan broker...)
but before i start all that I need to better understand the market.
what areas would be suitable for that strategy? It dosen't have to be in the city itself, but can also be in the surrounding areas.
Like mentioned already, your budget isn’t realistic. If your looking for a flip that will come out in decent shape after, your going to be spending at least $125k, probably closer to $150k. Buying a crappy property will probably ultimately lead to crappy tenants. I’d suggest buying something modest around $170-$220k, and make any repairs you need from there. Look in a 20 minute radius of all the military bases in San Antonio.
Good luck with that. 60-80k is going to take lots of marketing, website, social media campaign and lots of $$$ per month trying to find that. It is tough to find sub 100k houses unless you go to the REALLY rough parts of town.
Anything in that range on the market is essentially a tear down, or like Rick said in a really rough part of town. I’d start in or around north of hwy 90, south of 410/ Woodlawn area. Wholesalers may have something in the forums.
Good luck with that. 60-80k is going to take lots of marketing, website, social media campaign and lots of $$$ per month trying to find that. It is tough to find sub 100k houses unless you go to the REALLY rough parts of town.
What in your opinion would be the best areas to look for with a minimal budget? assuming I had more than 60-80k to invest.
Like mentioned already, your budget isn’t realistic. If your looking for a flip that will come out in decent shape after, your going to be spending at least $125k, probably closer to $150k. Buying a crappy property will probably ultimately lead to crappy tenants. I’d suggest buying something modest around $170-$220k, and make any repairs you need from there. Look in a 20 minute radius of all the military bases in San Antonio.
SATX and the surrounding areas are extremely hot still even though it's cooling a little. Jack is right. You'll most likely need to spend at least $150k. Even the surrounding areas are going to be at least $150k. It's Texas my man! Everyone is moving there!
Like mentioned already, your budget isn’t realistic. If your looking for a flip that will come out in decent shape after, your going to be spending at least $125k, probably closer to $150k. Buying a crappy property will probably ultimately lead to crappy tenants. I’d suggest buying something modest around $170-$220k, and make any repairs you need from there. Look in a 20 minute radius of all the military bases in San Antonio.
I am looking for a buy and hold actually. I understand that the total costs after repairs could lead to $125K.