Property Manager · Tacoma, WA · Member since 2016 · 197 posts · 112 votes
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.
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.
San Antonio, TX · Member since 2016 · 21 posts · 7 votes
9y
Hello James,
I am a realtor/investor here in San Antonio, Tx! San Antonio has a good variation of prices itself, towards the south you can still acquire properties for 40k and re-sell for 110k. Now there are pockets of the historical subdivisions that jump in price depending on size you could potentially pick one up for 250-300k and resell for 450-600k.
In my experience a lot of my investors like to stay in what they call the " San Antonio's sweet spot" 150-250k ARV range. Those tend to sell quite quickly as the average household income can support those ranges.
If you're contemplating partnering up and investing here in San Antonio please feel free to message me. I source about 30-45 deals for my investors a month!
Real Estate Agent · Dallas, TX · Member since 2016 · 432 posts · 341 votes
9y
Hey @James Marszalek! Fellow Washingtonian here. Just moved down here to San Antonio in August and dove right into REI. Would love to connect with you.. feel free to send me a PM.
San Antonio, TX · Member since 2014 · 38 posts · 29 votes
9y
@James Marszalek, good morning. I'd love to chat with you about investing in San Antonio. Feel free to give me a ring or drop me an email when you have a moment. This is a great area for investors. Or rental market is strong and prices are still pretty reasonable for purchases.
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.