San Antonio market on fire

18 Replies

Hello BP family,

I have had a very hard time finding a SFH that I can offer on before it's already under contract from the MLS. One particular property had 30 different offers in less than 2 days on the market! I am about to deploy, then moving back to SA in less than 5 months. I have made 2 trips to SA since January and have had no luck. It's a sellers market for sure and they are getting top dollar making it even harder to get a deal. This is my first property and I am working with a realtor. Any suggestions would be greatly appreciated, as I have scoured old forum posts looking for recent updates on how investors are making moves in 2018 in this hot hot market!

Thank you and happy early fiesta! 

@Starr Munoz I think we are all in that predicament. The MLS is competitive and everyone is looking there. The market sets the price. I'd recommend networking and getting on some wholesalers' mail lists. Best of all is connecting with sellers directly. We had luck on MLS a few short years ago but now that isn't happening for us. Our best deal to date was from simply door knocking the houses around a project we were working on that we found on MLS. If we hadn't door knocked and handed out cards to tell people we were looking, we would have never found that deal. Good luck!

@Starr Munoz Yes as @Will Pritchett said (good name by the way) it s very difficult on the MLS right now. Have you put any thought into a mailing campaign? While you are deployed your could send out a letter once a month to multiple houses or neighborhoods you have identified. You could have a family member or maybe a really good realtor help field calls. That way you may be able to market yourself while you are away and have possible options when you return.

Thanks for your feedback Will. I definitely plan on driving for dollars and attending the local meetings and networking more when I move back this summer. This may be a dumb question but how do I get on a wholesalers mail list? 

Originally posted by @Will Pritchett :

@Starr Munoz I think we are all in that predicament. The MLS is competitive and everyone is looking there. The market sets the price. I'd recommend networking and getting on some wholesalers' mail lists. Best of all is connecting with sellers directly. We had luck on MLS a few short years ago but now that isn't happening for us. Our best deal to date was from simply door knocking the houses around a project we were working on that we found on MLS. If we hadn't door knocked and handed out cards to tell people we were looking, we would have never found that deal. Good luck!

Hi Will, I have thought about direct mail. I never thought to try that method while deployed though as I was hoping to close on a deal before I returned home. I may end up having to give it a shot! Thanks for the feedback.

Originally posted by @Will Coleman :

@Starr Munoz Yes as @Will Pritchett said (good name by the way) it s very difficult on the MLS right now. Have you put any thought into a mailing campaign? While you are deployed your could send out a letter once a month to multiple houses or neighborhoods you have identified. You could have a family member or maybe a really good realtor help field calls. That way you may be able to market yourself while you are away and have possible options when you return.

I am looking for buy and hold.

Originally posted by @Jonatan Barbera :

Starr Munoz are looking for buy and hold or flips?

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@Starr Munoz

Which part of SA is so hot? Just curious...

NW/NE

Originally posted by @Mike Chern :

@Starr Munoz

Which part of SA is so hot? Just curious...

@Starr Munoz That is awesome for the city of SA. I've always liked SA (visited twice and toured a variety of properties while there). 

Have you thought of maybe looking at other areas close by to the zip code you're looking in? That could be another approach. 

Hope this helps. Goodluck on finding something. Thanks! - Ola 

I know a realtor elsewhere in TX who told me he has been contacted by realtors from San Antonio who are looking to buy rental properties (for themselves, not clients) outside of SA.  Sounds like the market must be heating up there.

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@Starr Munoz Sounds like Cincinnati as well. If you're gonna find a deal, it is most likely not going to come from the MLS in these markets. Connect with great wholesalers and try to get deals from them.

@Mike Chern All of it. I have seen crazy prices all over the city. Some neighborhoods that I thought were kinda war zones are selling at record prices. That should also tell you that something is getting ready to change. 

Start looking at houses that have been on the market over 90 days. Sellers are motivated and you could submit a low offer- that’s what the wholesalers have been doing anyways. Might as well save what they put on top and do it yourself! Make sure to do your research bc there may be a very good reason they have been on the market that long. Good luck!

Thanks Tanya! Unfortunately I have learned that what seems to be too good to be true is indeed just that. Now I am practicing patience!

Originally posted by @Tanya Lechner :

Start looking at houses that have been on the market over 90 days. Sellers are motivated and you could submit a low offer- that’s what the wholesalers have been doing anyways. Might as well save what they put on top and do it yourself! Make sure to do your research bc there may be a very good reason they have been on the market that long. Good luck!

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