Aspiring San Antonio Wholesalers!

8 Replies | San Antonio, Texas

Hello All,

Who's actively (or wanting to actively) begin wholesaling or flipping in San Antonio? Would love to learn a little more about what you're current strategy is and what's preventing you from pushing forward to the next level!

What areas of town and investment strategy are you focusing on?

Hey Chris,

I don't have a lot of info for you as I'm just now trying to get started.  I have yet to do my first deal and am exploring several strategies currently.  I'm most interested in Woodlawn, LA Heights, Five Points, Prospect hill, etc.  Pretty much west of downtown and into midtown areas.  I started driving for dollars with deal finder app, have website/social media/seo in the works, and am looking into other motivated buyer lead sources for direct mail.  

I have a lot to learn for sure, but am trying to pursue this.  I would love any insight or tips you may have.

Thanks,

Aaron

Hey guys, 

First of all, congrats on starting in wholesaling. We haven't done much direct mailing recently in San Antonio but in the past we did and one thing the I always remember from the phone calls that is totally different from the Houston market is that in SA a lot of people told us either: "I would sell my house if I had somewhere to go" and we also got a lot of "I'm going to die here in my house and none of my neighbors will sell 'cause they feel the same way. We have nowhere to go."

We mail Yellow Letters to high equity and long ownership so it is obvious it's an older generation, but in Houston we don't see the same pattern or get that many people to say those things like in SA. Anyways just wanted to share that with y'all. 

Good luck and happy investing!

A partner and I are interested in a couple of strategies in the Austin/San Antonio area. We begun our search for multifamily and even got preapproved for a conventional mortgage loan in the 500s with 20% down, but as we continue to evaluate many of these properties and their cash flow, it seems like a high cost of entry, ownership with a low return/cash flow. Especially when it is split between two people.

We are still new at this and may not be taking everything into correct consideration, but we are looking to get the best return on our investment, both short and long term.

On the other side of the coin we have been thinking of fix and flips but with no experience and a sort of apprehension to high interest loans and rehab costs, we wonder if this is even a good route for us.

Any ideas, tips of advice? I PMd you as well.

Trying to determine a consistent, low cost lead generation strategy and sticking with it.

I find myself dipping into using different lists (tax delinquent, code violations) and driving for dollars and also looking to do bandit signs.

I need to pick a strategy and stick with it until I get my first deal or 2, then use some of the money to start a direct mail campaign which is a common them among the successful wholesellers on the BP podcasts.

Hello Christopher,

I'm a newbie, looking for my first deal as well. Currently learning the areas that I'm interested in investing in. Which are similar to the areas that Aaron mentioned. Although I live east of downtown and would definitely add this side to my list of neighborhoods to invest in. 

I'm very interested in the BRRRR strategy and working on building capital for a hard money loan and holding costs to pull the trigger. I have my eye on a few properties for now and I'm about halfway to my capital goal, but the money can't seem to get saved quickly enough..lol. I'm chomping at the bit to get started!

I see you have 9 investment properties, congratulations!  What areas are you investing in and what's your current strategy?  

Thank you,

Brendon

Texas in general is a tougher market now due to the popularity of wholesaling and the prices people are paying and charging for wholesale deals. I think SA is better than Austin with that being said just due to sheer volume of opportunities. I've been wholesaling for 15 years and it has changed dramatically since then.

Good luck!