VA Loan For Multi-Family in San Antonio

8 Replies

Hello,

I'm working on getting started in real estate investing by using my VA loan to buy a multi-family or single family property for rental income. My home town of NYC is an investing disaster in my price range so I am looking at San Antonio. I really like the price-to-rent ratio here and, more importantly, I will be living and working in SA and can easily make time to manage the process.

I would love to connect with anyone who has experience using a VA loan for duplex, triplex, etc. properties in the area. I'd be grateful for feedback on investing in the various neighborhoods, as well. Lastly, I'm new in town and always up to networking and building friendships with people who are ambitious and have a vision. :)

All best,

Marco

@Marco R. Sounds great man I'm glad to hear you are looking into REI! You will find SA is much more affordable than NYC lol. However I would suggest really taking the time to drive around town and get to know the neighborhoods. You really need to understand the market, prices, path of progress etc or I fear you may pay too much for a property. Don't get so excited to get a deal that you ignore the numbers and red flags that show up! Go to real estate meet ups that aren't huge pitch fests where you have to pay to attend. You will meet people there and just tell them what you are after and ask them about the market and their experience. The plex's here in San Antonio are usually in the rougher parts of town, but you can find some decent ones in solid C class areas. Go through the bigger pockets page and search all the people with profiles on here from San Antonio and reach out to them and ask them if you can take them to lunch, or for their advice on what to do. I wish you the best of luck brother and I'm always here if you have any questions or need help.

@Michael Guzik Thanks a ton for the advice! I will do that.  I actually enjoy exploring neighborhoods, plus it's a good way to get to know the town.  I'll be sure to reach out. 

And keep an eye on property taxes in SA. They can run pretty high relative to other states/cities. Example SFH I own is worth ~$345k and property taxes run $8500/yr. Here in Florida, own a home worth $600k and property taxes are $7.5k/yr.

Hi Marco,

I'm in the exact same shoe with starting out in real estate and is interested in using the VA loan for a multi family property. I'm just been listening to the podcast and doing all the research I can before putting my foot in the water. PM me and I would love to connect and we can exchange some knowledge.

-Tan

Originally posted by @Matt Humps :

And keep an eye on property taxes in SA. They can run pretty high relative to other states/cities. Example SFH I own is worth ~$345k and property taxes run $8500/yr. Here in Florida, own a home worth $600k and property taxes are $7.5k/yr.

 Thank you, Matt.  Good call.  I will pay attention to that.

Originally posted by @Tan Le :

Hi Marco,

I'm in the exact same shoe with starting out in real estate and is interested in using the VA loan for a multi family property. I'm just been listening to the podcast and doing all the research I can before putting my foot in the water. PM me and I would love to connect and we can exchange some knowledge.

-Tan

 Definitely.  All about joining forces.  Thanks for reaching out.

@Marco R. I like SA, and I visited a couple of times. 

I think you should push for a fourplex, and yes, I know it might sound a little big for a first deal, but I know you'll do just fine. 

Great market to invest in. Goodluck. Thanks! - Ola 

Thank you Ola for the encouragement. I don’t want to over-leverage but if there’s a fourplex out there whose numbers make sense I’ll go for it. Is that how you started?

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