All Forum Posts by: Anthony Finger

Hello BP community,  in a couple weeks I am closing on my first rental property in San Antonio, TX. I am looking for recommendations on property management companies that investors use in San Antonio.  Any information will help!  

Thank you in advance, the willingness to help on BiggerPockets is inspiring.

Hello BP community, I am looking for preferred lenders in the San Antonio area? If any investors would like to share who they use I would greatly appreciate it.  

I am making the move to buy my first rental property and am very excited!

@Sterling Williams, I have been told by a couple real estate agents that investing in multi families in San Antonio is next to impossible due to low availability. What is your take on it? It seems like a great option to me since the cash flow can potentially be greater. 

Thanks in advance for your insight!

@Matt Schambeau; thank you for posting your unfortunate situation. I have learned a lot by reading the thread and have some take-a-ways on how to handle this issue with future tenants. I am in Texas and mold can be an issue at times and with improper care. 

Thank you everyone for your time and feedback, it looks like my given scenario is a bad deal not worth pursuing. You all have saved me from losing money and have taught me to look harder into the numbers; I appreciate it.

@Lawrence Rutkowski and @Joe Sanada I look forward to continued discussions about the San Antonio market.

Hello BP community! This is my first post as I am a newbie to the real estate game. I have been bitten by the rental property bug and have challenged myself with buying my first property in the San Antonio area by the end of 2018.

I am struggling with the refinancing portion of the BRRRR strategy. Can someone please help me out with this word problem?

I buy a $100,000 house with a 20% down conventional loan and put 10,000 dollars of rehab into it. After 12 to 18 months when I am able to refinance the property it appraises at $120,000. In order to get rental income above the mortgage price I am learning that 20% down is generally the way to go; which means I have to put $24,000 down on the refi. That means I am keeping $16,000 (20K down plus 20K in appreciation minus 24K down leaves me with 16K) and not getting all of my money back out of the deal.

Is my math wrong or am I looking at this scenario incorrectly? Any and all help will be greatly appreciated! I look forward to networking with the San Antonio and BiggerPockets community.