New Braunfels - Single Family Rental

Specialist · Paradise Valley, AZ · Member since 2018 · 3k+ posts · 2k+ votes

8y

Originally posted by @Tyler Esparza:

Hi all, new to the BP site. I've been binge listening to Josh and Brandon's podcast and loving it. You all are so knowledgable in the field and looking forward to being apart of BP.

My wife and I are looking at purchasing our first investment rental property - preferably a single family home. We live in Dripping Springs, Texas but are looking at investing anywhere between south Austin and North San Antonio. This area specifically because the prices for homes are still somewhat low and the area is projected to grow. New Braunfels has caught my eye with homes still available in the 150-200k range, low tax rate and decent rents. I'm also reading plenty of articles about current and future growth in that area. I've driven the area, viewed homes with my agent and ran numbers. We've even made some offers but have not gotten anything accepted YET that will work for our cashflow criteria.

Does anyone have experience investing in the New Braunfels area? After researching on my own I feel its a great place to be but would love hear other peoples opinions with investments in or around the area.

Any areas you would avoid / recommend looking?

Thank you!

My partner in Austin and I have a place in Kyle. It was two years old and came with appliances and upgrades. We bought it thinking we would cash flow the property. Turned out not to be the case though. The value jumped to the point where we decided to sell on owner financing. We bought for $197,000 (took over the seller's mortgage in a Wrap) and are into it for about $15,000 out of pocket ($186,000 mortgage + $10,000 cash to seller plus $1,000 closing + $4,000 carrying costs). No bank involved. We tried selling it with owner financing to get cash flow, but couldn't find people who could put down a good size amount and still make the payments. We were not using a real estate agent so we weren't being seen by everybody in the market. We got a *lot* of calls regarding the property though. We ended up getting contacted by a realtor and paid their 3% fee. We saved 3% or about $7,000 by taking care of the seller's side. We sold to his clients on owner financing for $250,000. We got $40k cash down from the tenant buyers and they are to cash us out for the rest this fall. My partner thinks this is the coolest deal ever. (He's somewhat new. ;-) I've been doing these for over twenty years. I'd suggest you consider looking at all available options in buying in the Austin to S.A. corridor.

New Braunfels - Single Family Rental

Most Popular Reply

28 Replies