All Forum Posts by: Anthony Finger

@Aaron Naley You can find properties with those parameters. I invest in the Northeast and East side and I have hit those exact numbers you have laid out above.  

Property taxes can vary a tad by neighborhood but I agree with Shaun, bcad.org is my go to and is accurate. 

Happy Friday BP community!

My portfolio has outgrown my tax-filing, comfort level in 2020 and I am looking for a tax professional to hire. Since we are all on BP, I obviously am looking for someone who can maximize my real estate deductions.  My current portfolio is seven units in San Antonio.

I moved to Virginia at the end of 2020 so my other question is, do I need a CPA that is close to my assets or close to my current address? Any and all information this great team can provide me will be appreciated.

Thank you in advance and thank you for your time. 

@Firen Forrest

I invest in San Antonio and have a team in place there.  They have not given me permission to mass blast their name out so you can message me and we can talk about how they can help. 

I echo what others have said, you are not getting anything worth having for 100k.  All of my properties have a range of 135k-240k. 

Since you already have a business, and I assume access to an attorney, I would start there and ask for advice. Maybe an LLC isn't necessary in these early stages... Not a lawyer, just providing my opinion.

I believe BP allows using big name brands.  I use Liberty Mutual for my San Antonio rentals. If interested in price comparisons I can message you my insurance agent information.  She has been great, finding ways to save me money. 

@Poornima Shanmugam, please take advantage of the advice given on this thread. Lots of great tips in here. San Antonio is a great place to invest, and while no one knows the future, I bet most SA investors that are already in the game feel strongly that in the long run San Antonio will still be a solid real estate market. 

Going back to your question about using 180k to buy a property. That can be way too much or not nearly enough depending on where you are looking. So it is hard to answer that question with the information you have given. I have bought properties ranging from 130k-240k in San Antonio.

My advice, find an out-of-state, friendly Real Estate agent here on Biggerpockets and buy something that requires little upfront repairs. You may only get a 6-8% CoC return but like others have said above, you will be in the game and learn along the way. If you listen to the podcast; Brandon says all of the time, that the first deal is not meant to make you rich it is meant to teach you.

I wish you the best of luck and hope you take action!

Greatly enjoyed reading this thread. I have been investing in SA for 2.5 years now and agree that the forecast is bright. 

Thank you @Alex Craig, for all of your responses. I am in the beginning stages of this very plan as I am aligned with your thought process.  I am currently under contract with my 5th property in San Antonio and then will be working hard to pay them all off starting with the lowest mortgage first. 

For everyone reading this thread, another great source is listening to BP Podcast # 395 with Thatch Nguyen. He started the process above decades ago. 

For Chelsey, I recommend getting your second property to start the appreciation process of a second rental. After that, it is up to you what you feel most comfortable with. Some want to reduce risk/debt. Some want to acquire as much as possible early on.  No wrong answers.

I have had two tenants struggle to pay but they keep chipping away at rent with what they have. I echo what Leopoldo said, if you have good tenants in place they will either pay or leave to keep their name clean. 

It has been a nerve-racking time as an owner, I will not lie to you. But everything has worked out so far. This experience is a good reminder to make sure you have cash reserves readily available to deploy if needed. 

Thank you Kyle, this is some good stuff. 

Help BP experts (Especially investors in Texas that have rental lines of credit)!

I started investing in San Antonio in 2018 and now am trying to find a bank/lender that will do business with me. My goal is to have a HELOC on my first single family home that I bought in 2018 and then on my other rentals once the equity is high enough; but I have ran into dead ends with every bank I have tried so far. That list includes: USAA, Navy Federal CU, RBFCU, A+FCU, FirstMark CU, Security Service FCU, Credit Human and Generations FCU.

My question to the Texas BP Members out there who have successfully done this is, who do you use and can you please share their contact information with me?