San Antonio TX and Surrounding Area Investors
Investor · Anchorage, AK · Member since 2015 · 267 posts · 76 votes
Texas anyone? My 9 to 5 is in Alaska, but I'm interested in REI in San Antonio. Any advice on the market? Is it as strong as Dallas? What about the market for vacant residential lots?
@David Ferrette We see a lot of promise on the east side, particularly in the promise and choice neighborhoods.
Hey Tricia!
The two markets are very different, particularly if you're looking at residential vs commercial. There are areas in San Antonio where the residential demand is soaring, or anticipated over the next several years. But, there's a lot of San Antonio with much less demand. San Antonio is having weird particular demographic shifts that are somewhat re-writing the map.
Hey Tricia!
Our company started in San Antonio and a lot of our team is based there (the rest in Dallas.) The two markets are very different, particularly if you're looking at residential vs commercial. There are areas in San Antonio where the residential demand is soaring, or anticipated over the next several years. But, there's a lot of San Antonio with much less demand. San Antonio is having weird particular demographic shifts that are somewhat re-writing the map.
Ethan, what zip codes do you prefer to invest in?
@David Ferrette We see a lot of promise on the east side, particularly in the promise and choice neighborhoods.
Thanks @Ethan Jones, it seems that in San Antonio, there are pockets of areas all over the city that people like. It looks like you just really need to know your neighborhood before you buy.
Hi Tricia and BP soldiers,
I just did a search for most recent San Antonio posts and your post actually is exactly what i was looking for.
I was looking to find other investors that have interest in purchasing a turnkey flip lot or two located on a master planned golf course/rv park just outside of San Antonio.
Just completed lot staking and utilites on 75 new fairway lots , take a look at my bio if you have interest and shoot me a message
best,
kevin seele
In San Antonio, gentrifying is coming on strong in the East and West sides of town as well as towards downtown. However, there are many pockets that are not strong enough and are still in transition. It is catching on, but there are too many who are trying to use comps that do not hold up.
The ghetto is the ghetto is the ghetto. Hence, many skewed ARVs. I even had a Realtor question me when I passed on a foreclosure that to me, didn't have enough meat on the bones... The ARV came back at no more than $180K (S. Lonestar area) - Of course, they were befuddled as they thought it would be closer to a $350K ARV. Which yes, there are properties for sale in the area that project that price and some which have sold in the north part of the area near an historic (King Williams area).
I have found houses for $5K, but if the numbers don’t work, then it doesn’t make it a good deal.
Location is still key, but more importantly to any investor is, how much money and what is the risk as in how long will that money be tied up before that property sells?
My modified old rule of thumb... It is better to fix up an ugly house in a pretty neighborhood than fix up an ugly house in an uglier neighborhood.
I've done this and what no one really shares is when you are rehabbing in a distressed and impoverished areas, the thieves come out at night. I've had central A/C units torched through bars/cages and stolen to all my new doors and hardware pulled off every doorway taken in minutes in these areas. Worse part is... It is usually the neighbor or one of the neighbors... In one case, I had mud tracks going to and from the home next door. I even had the neighbor have his water hose hooked up to one of my house's outside faucet or their extension cord tapped into my outlets through a broken window.
There are many opportunities, but you have to be careful with those comps… The funny thing is, I went to Breckenridge High School which was considered the ghetto area. Many fights and a rough area of town. Now surrounding the area are homes selling between $450K to $750K. (sigh) Go figure. I could have been a genius if I picked up many of those properties back in the day.
Be careful… N Presa, King Williams area are hot areas. Broadway, also usually anything north of 1604, NW SATX, near Fredericksburg Rd.… The south side is slowly blowing up. Homes that used to be $75K are now exceeding $175K… CRAZY!!!
Back in the day, you can go to any given side of town and the numbers were the numbers. Now you have homes that are selling for $350K next to homes around $80K… I don’t think it is completely settled and strong, but eventually once more sell, the comps will be there.
As we all know, we are coming into the slow season and higher-end homes in so-so pockets are sitting idle for a bit longer such as the Woodlawn Lake area. The economy is still not strong enough yet to embrace an Austin-like culture.
Back then, I would share, “If I fix a property in Five Palms, I am not looking to market to someone who lives in Alamo Heights… I am marketing to those who live in the area.”
(Long Sigh) I now must eat my words decades later… Now we are asking those with a Alamo Heights budget and preferably someone from out of town to come in and buy what we are trying to sell in San Antonio.
Lastly, there is plenty of opportunity, but that Double D is so important… Her name is DUE DILIGENCE!
If anyone would like me to assist them – send me a colleague request and a message.
I am an investor of 20 years and will be acquiring my license as a Realtor. I will be what you will say in the business, VERY INVESTOR FRIENDLY. I will visit the property/ies for you, take pictures and record videos, if necessary, I will verify repair costs, check comps, I will work with lenders and title company to ensure the process is on target, I can use my contacts for all aspects of rehab especially on properties that have foundation issues, I will be an investor’s greatest ally. My job is to make money and if you make money, then I make money, and we rinse and repeat. I am willing to partner up if need be… So, keep me in mind, as I am going to retrieve license before the end of January, I will work with only a select few. I take real estate seriously and plus I have a great sense of humor. Oops this is not a dating site. Lol!
Either way, before, during, or after… Feel free to reach out to me. Who knows? Maybe we can grab a bite to eat if you are in the city.
Just my two pesos.
“Big” Henry