What a Difference a Day Makes!

First thing - Brian Adams in Killeen is awesome.  He met us today and showed us a few properties; he also provided us with a lender who got us pre-qualified.  Let the games begin!  We found a property that we were ready to put in an offer on, but on the way home we spoke with Kenny (our son and business partner).

He's looking for properties that are cheaper with a higher cap rate (at or above 10%).  Given that, we're moving our "farm" location to San Antonio for a few reasons:

• More diversified economy - Killeen's a bit of a one trick pony, just the military base, and if that closes, it's Katie bar the door.
• More to choose from in San Antonio - lots more properties available
• Closer to home - we can get to San Antonio in less than an hour
• There's lots of competition for fewer properties in Killeen; the market's more wide open in San Antonio

So now I'm starting to analyze deals in San Antonio.  We have a friend who's a real estate agent there, and he's setting us up with an MLS search.  I'm not the best at following directions, but I fully intend to analyze 100 deals in the next 30 days - just like Josh (or is it Brandon?) advises.

Here's the plan:

• Analyze San Antonio deals (100 in next 30 days)
• Find a San Antonio investor meet-up and get involved
• Sock away more $ into the REI fund
• Get the business plan together
• Ultimate short term goal:  find and offer on a property before my pre-qual expires in 120 days

Let's go.