All Forum Posts by: Aaron Bihl

Hey @Joseph OHare, if you want to message me the address and some info and I can look into it for you and look at comps and such 

@Andrew Schmidt

I would second that recommendation for David, not just because Seth is my boss but David has closed several loans for clients of mine and nearly every time has been able to provide a better rate than they we’re previously quoted. 

@Shashank Gokhale

I would recommend youtubing the TREC contract, there is a 40 or so minute video that goes through the contract and explains it line by line.   If you aren't used to it can be a bit daunting and a lot to understand. 

As far as your questions, I think it depends on if we are talking wholesale transactions or traditional on market residential transactions.  Most of the wholesale contracts I write are pretty simple, we made add conditions that the house has to be vacant prior to purchase (under special provisions and other than that I write them with no option and we close when the seller wants.  But we also close on most all of our deals and rarely assign.  Wholesalers who are assigning may use paragraph 23 and write in a very long option period so they can back out if they can't close.  We don't do that but it happens and i've have had a homeowner reach out to me multiple times over a few months because she kept contracting her house to folks who couldn't close.  Wholesale contracts we normally pay all closing costs (survey, title, etc).  

Residential contracts are the same form but a little more variation exists.  They usually have addendums for financing and sometimes other addendums are attached as well.  Title, survey, home warranties, option periods, all vary quite a bit.  

The specific question you asked regarding repairs is found in paragraph 7 where you can choose to take the property as is, or based on conditions.  In regards to an inspection this normally comes afterwards in the form of an amendment.  

Hopefully this information is helpful, let me know if I can be of assistance.  As always, I'd recommend getting out to some of the meetups and getting to know folks who are doing the things you want to do.  @Rick Pozos may have come off harsh, but he's a good dude, has done a lot of deals, and holds a good meetup.  My brokerage has one as well.  There are several around SA.

Hey Diana, 

I would estimate 10 percentish for property management and probably a full months rent for placement of a tenant.   If you have an area in mind and need someone to run comps for you let me know, I’d be glad to help however I can

No worries, hit me up if you have any questions 

@Jerry Sanders I have a few STRs in San Antonio and they do well.  I’d pretty much echo everything that @Jason S. said. 

They definitely bring in more money than a traditional rental but there are a lot more hoops to jump through and also it can turn into a job. Mine are pretty hands off, but things still break and people still complain about things. 

Also, just from recent experience the STR permit process has become a little more troublesome. I have a friend who is hoping to use a new property as an STR and has been waiting over a month to get a permit. And personally I have been waiting over 2 weeks on the permit for my new Airbnb. When they initially made the requirement the turn around time was under a week.

Today is the monthly no-pitch real estate investors meet-up in San Antonio at Joey's, hosted by Texas Quest Capital and Somos Real Estate.  

Hope to see y'all there!

Sounds pretty good, hopefully the next one gets a little easier and better as well!

I'm a bit confused how you are going to rent both units on an FHA but i'll just leave that one alone. The house is in an interesting spot, culebra is definitely a dividing line for the neighborhood. On one side is woodlawn and really nice houses and then it goes down hill pretty quickly on the other side of culebra. Its very 78207/west side.

That being said, I have a friend with a 3/1 in 78207 a little south of where you are at and i believe shes getting 950 a month and that's without central AC.  However she quickly had to change her criteria for renters, she had a lot of interest but 90 percent of the applicants would have been immediately thrown out using conventional screening criteria. 

As far as the airbnb, I think it would make money without a problem.  It may just be a headache.  I have a lower price point airbnb and it does well its just more work than my nicer airbnb property.

If you are still looking for reasons to not rent your car Turo, this week I had my second car stolen this year.  But honestly that isn't going to deter me and I still plan to scale up.