WA Investor looking for San Antonio Market Analysis

[James Marszalek]

Hey all, 

I'm a licensed agent [WA] and investor out of Tacoma, WA. I have a friend down in San Antonio interested in getting into investing, and I may partner up and do some deals down there. I was hoping someone could give me a snapshot of what the market looks like down there. Looking for info that speaks to overall market movement, average price points for flips and multi-families, inventory levels, etc. Looking for the 10,000 foot view, so I can know where to drill down. 

In Tacoma, I can pick up flips for $100k, $50k Reno, and selling for an avg of $250k. 

In Seattle, the prices are much higher. Avg acquisition is $300-400K, $75-$100 reno, and reselling for $600k - $1million. 

I can get a 4 plex, with garages for about $400,000 in Tacoma, and about $750,000+ in Seattle. 

So, what's good about San Antonio, what's bad? 

[John Barr]

@James Marszalek @Kenneth McKeown Welcome the SA market!

San Antonio is a different city as we have a very good highway and infrastructure system which allow people to commute through the city pretty easily. What this has caused is a very wide spread real estate market with pockets spread out everywhere.

There is a shelf in the city at about 250K which you will see a big jump in the months of inventory. Below the 250K is where the vast majority of our strong working class can purchase.

I do a market update every month for one of the local REIA's here and I would be more than happy to share it with you as it perfectly breaks down the city for that 10,000 view you are looking for. I break the city down by zip code and price range for month of inventory so its pretty easy to see where the houses are moving.

If you are new to the area or have someone that is new to the area make sure that you really verify with multiple sources about values and repairs while you are trying to develop relationships here. There are a couple big wholesale companies in the market that are notorious for overinflating and undercutting repairs and are pretty good at "fluffing" the numbers.

Feel free to shoot me a PM if you would like a link to the youtube video or if you have any questions.

Happy Investing!!!