All Forum Posts by: Alexi Schreier

@Rick Pozos sounds like you have a lot of awesome options to choose from! Thanks for sharing.

It would be great to hear from people with experience in the Columbus, OH market what it looks like to successfully BRRRR a rental property there.

How realistic do you think it is to find deals with the following criteria on the MLS?

- In decent neighborhood (C- to B-)

- All-in costs are 75% of ARV

- Cash-flow after a refinance where you pull out 75% of the ARV

I've been analyzing MLS deals and have found that the numbers work well in a few areas when the purchase price is around $85-100K but since I don't know the city I'm not sure if I'm analyzing in total war zone neighborhoods or not!

Is it realistic to find properties on the MLS in decent/up-and-coming neighborhoods that match the above criteria? If not, what other methods do you use to find deals?

@Kris L., @Rick Pozos thanks for the feedback. You said what I was expecting to hear... And thanks for the tips on wholesalers and marketing!

Rick do you buy and hold your deals? Flip them? What’s your strategy in today’s market?

@David Ferrette No doubt that the entire area is on the path of progress and seeing lots of growth. That’s what attracted me to it I’m the first place!

My issue is finding areas that cash flow, and finding deals that you can buy under market value that need rehab work. From what I've seen these deals get snatched up as soon as they hit the MLS by other investors.

Seguin seems to have more of them, but going back to my original question, I’m not sure it’s an area that I want to invest in because the future of the manufacturing industry is uncertain and the quality of tenants there isn’t quite the same as areas like Cibolo, Schertz, NB, Canyon Lake, etc.

Thanks for sharing.

It would be great to hear from people with experience in the San Antonio market how realistic it is to successfully BRRRR a rental property there.

I think San Antonio has a lot going for it: job and population growth, diverse economy with durable industries, property values rising but still relatively affordable, the list goes on...

However, I've been having a hard time finding deals (on the MLS) with the following criteria:

- In decent neighborhood (C/B)

- All-in costs are 75% of ARV

- Cash-flow after a refinance where you pull out 75% of the ARV

From what I've seen, the numbers in SA seem to work at around the $190K ARV price point. They usually need pretty significant rehab (which is what we want!) let's call it $50K in rehab. That brings us to looking for properties that are being sold for $90K (90 + 50 = 140 which is 75% of the 190 ARV).

Don't get me wrong, there are some properties out there in decent neighborhoods selling for $90K, but they're few and far between and usually don't stay on the market long.

Would you say this is an accurate reading of the market? Is it realistic to search for deals on the MLS or is it more realistic to work with a wholesaler in this market if you're looking to meet the above criteria? Is the BRRRR method realistic?

@Mike Reynolds, @Kale Stephens thank you both for sharing!

Thank you both for your advice.

@Mike Kirby thanks for your input. Are your rentals in New Braunfels only?

When you say that there’s a lot more bringing people to the area, are you talking about a specific city or the area as a whole? And what other factors are bringing people to the area?

I've been looking to buy my next rental in the Seguin / New Braunfels area but have had mixed feelings regarding its long term growth.

On the one hand, these cities are situated in between two economic power houses, San Antonio and Austin, who are both expanding at the benefit of whatever's located between them.

On the other hand, Seguin and by proximity, New Braunfels, depend in large part on the manufacturing industry. I think it's great that large manufacturing companies are present in the area and continue to invest there, but I'm worried that with the slowdown in the manufacturing industry happening in the US economy, that job losses are going to happen.

I'm curious to know what those who invest in the area have to say about this. Is this something you think about too? Have your rentals been affected by it or do you think they might in the future?

Sounds like a good deal, congrats!

Would you mind sharing some of the financials? Purchase price, expenses, rent, etc.