All Forum Posts by: Alex Pino

Basically the title, I can not seem to find lenders who do this. San Antonio, TX area if that helps. 

Quote from @Sachin Relia:

Hi, Im starting to build my team for RE investing in the San Antonio  area and looking for a property manager in the area. Would be grateful if I can get some leads for PMs. Thanks 

 I work for a property management company. I will PM you.

Say I I owner finance a property, would I still be able to use my VA Loan or FHA loan for another property? or will lenders consider it debt? Will they say I am not a first time home buyer?

Quote from @Trent Reeve:

Quote from @Alex Pino:

I would definitely recommend you open an LLC and get a bank account under it. Not only to limit yourself from liability but so you have an accurate amount of deductions for tax purposes.

if you are purchasing property out of state, does the LLC have to be in that state or your home state?

You can get it out of state, but I don't know the process. For those saying you do not need to form an LLC I wouldn't pay much attention to that. Limiting liability is important, but also starting to have business credit and keeping your account separate is important. As an investor your relationship with the bank is going to be important. You also do not want to co-mingle funds. Your CPA will have a heart attack if he has to sort through all your personal accounts to also find what is business expenses. 

I would definitely recommend you open an LLC and get a bank account under it. Not only to limit yourself from liability but so you have an accurate amount of deductions for tax purposes.

I recommend a CPA, they will be able to file all the paper work and depending on the state it is usually not too expensive. 

Quote from @Edward Zachary Samperio:

Quote from @Alex Pino:

Quote from @Edward Zachary Samperio:

Quote from @Alex Pino:

Quote from @Edward Zachary Samperio:

I am a future investor in a multi-family property, and I was looking for some information about real estate locations and markets within Texas. I plan on financing my first purchase using my VA loan but have difficulty deciding where to buy, as I am not from Texas and not knowledgeable about the markets. I want to buy into a market where appreciation is likely and there is good cash flow now and in the future. I have my eyes aimed at San Antonio, Dallas, and Fort Worth but I was hoping to hear from what knowledgeable people within the area have to say.

Same boat as you! Moved here from Miami last December and am now trying to use my VA loan here in San Antonio for a multi family.

 Have you had any issues finding good deals? I'd like to know how your search is going. Just trying to get as much information on San Antonio as possible, thanks.

Has not been easy brother, most good deals it seems get scooped up insanely fast. Iv been speaking with a lot of realtors just trying to spread the word as much as possible to find me a deal. Especially with interest rates going up and putting 0% down means positive cash flow is very hard to get especially when the VA is going to want to make sure the property passes all its inspections.

Does using the VA loan increase the already high-interest rates? I appreciate the insight man, it's always good to see the realistic side of things. I contacted another agent in the DFW area and he says you'll have more stabilization there. His name is KC McKeown he's with KMAC Realty Group and also started his investments with a VA loan.

 It does not increase the interest rate, but because using 0% down means your monthly payment is going to be higher. So no money down + increased interest rates = high mortgage. Since the mortgage is higher, positive cash flow is harder to achieve. Im personally investing heavily in San Antonio because the amount of growth here is crazy, I see it being the next "Austin" market in a few years. Im trying to get in now while prices are relatively cheap. To put it into perspective the average multi family in San Antonio is $409,786, in DFW a single family average is $537,026 ( they dont have multi-families listed on their market reports). 

Quote from @Edward Zachary Samperio:

Quote from @Alex Pino:

Quote from @Edward Zachary Samperio:

I am a future investor in a multi-family property, and I was looking for some information about real estate locations and markets within Texas. I plan on financing my first purchase using my VA loan but have difficulty deciding where to buy, as I am not from Texas and not knowledgeable about the markets. I want to buy into a market where appreciation is likely and there is good cash flow now and in the future. I have my eyes aimed at San Antonio, Dallas, and Fort Worth but I was hoping to hear from what knowledgeable people within the area have to say.

Same boat as you! Moved here from Miami last December and am now trying to use my VA loan here in San Antonio for a multi family.

 Have you had any issues finding good deals? I'd like to know how your search is going. Just trying to get as much information on San Antonio as possible, thanks.

Has not been easy brother, most good deals it seems get scooped up insanely fast. Iv been speaking with a lot of realtors just trying to spread the word as much as possible to find me a deal. Especially with interest rates going up and putting 0% down means positive cash flow is very hard to get especially when the VA is going to want to make sure the property passes all its inspections.

Quote from @Edward Zachary Samperio:

I am a future investor in a multi-family property, and I was looking for some information about real estate locations and markets within Texas. I plan on financing my first purchase using my VA loan but have difficulty deciding where to buy, as I am not from Texas and not knowledgeable about the markets. I want to buy into a market where appreciation is likely and there is good cash flow now and in the future. I have my eyes aimed at San Antonio, Dallas, and Fort Worth but I was hoping to hear from what knowledgeable people within the area have to say.

Same boat as you! Moved here from Miami last December and am now trying to use my VA loan here in San Antonio for a multi family.

Quote from @Natalie Godoy:

Question!! What animal is that on your shoulder? It looks like a tiny cat but I can't tell. It's so cute!!!

 It is a coatimundi! They are super cute racoon like animals.