All Forum Posts by: Charlotte Chew

Happy New Year all!!! We are still confirmed to meet at Hops & Hounds on Friday, Jan 8th at 5pm. We really look forward to seeing you all there!

@Darryn Oliver As far as I understand it, you wouldnt have to refi out of an FHA unless you want to buy your next house with an FHA, since you can only have one FHA loan at a time. I did a cash out refi out of an FHA on my first property because I thought I'd do another FHA but I ended up doing a 5% down owner occupied conventional, because the house didn't qualify for FHA (pre-1978 house with peeling paint and needed a new furnace). Best of luck!

We will have another San Antonio meet up on January 8th starting at 5pm at Hops & Hounds, 13838 Jones Maltsberger Rd, San Antonio, TX 78247.
We don't sell anything at these events, we simply hangout, meet new people, have some food/drinks, and talk real estate.
Please let me know if you can make it; either reply to this thread, direct message me, or send me or Mana an email ([email protected] or [email protected]). Hope to see everyone there!!

@Shona Lepis Awesome! Thanks! Any words of advice getting set up with them or doing the 3 month rentals?

I have an STR unit and have had 2-6 month renters who stay in my unit for work. I appreciate guests staying for longer periods. Have any of you used Furnished Finders who market to traveling nurses and other professionals? Any suggestions for any other platforms? Thanks in advance for your input!

@Jose Cuellar I'm in San Antonio too and have a good insurance agent. PM me if youd like his contact info.

Which part of San Antonio is the mobile home parked? I'm in SA and have an STR, hopefully two soon. We have to get permits in SA, and theres two types. You'll probably need a type 2 since you dont live on the property. Both are about $100 and you have to submit city/county taxes each month. If you have guests stay 30 days or more it's not a short term rental and there might be a need for this in medical center or near military bases. Go on to Air BnB as traveler and see which types of dwellings are used. I thought I saw an Airstream in Southtown but @Aaron Bihl might correct that they dont allow mobile homes. Check SA Developmental Services site to see what's permitted. All the best!!

I agree with @Matthew Wilson. Consider going to a community college for a trade like electrical, plumbing, HVAC and learn more about the construction side of things. Even radiology/sonography technology and some health related degrees are offered at community colleges. Those are high paying, high demand jobs where you can finish training in two years and will make more than I do as a teacher with a master's degree. Use Occupational Outlook Handbook to see which careers will have good growth the next 10 years (Google 'OOH' and the handbook should show up). The military sounds like a good option too. Lots of opportunities and growth and connections to build a good network. 

@Kai Van Leuven mentioned it might not be a great time to buy; properties are expensive now and it's competitive to get your offer accepted. Now might be a good time to get your education/find a career and wait to buy until it's not as competitive. I'd say continue to look at/analyze properties and figure out financing options available to you so you know what to look for you when it's time to buy. 

I love that you're thinking about this now. I'm a middle school teacher and taught high school. I'm trying to get my kids to think more on investing and future. Do you have any advice for me on how to peak their interest? What got you interested in investing at your age? Thanks and best of luck!!

I bought a SF and turned the garage into an STR. It's been doing great here in TX but youd have to check regulations for STRs in your area to see if it's worth it. Since I forced some appreciation by adding a bedroom & bathroom, it appraised for $60k more than what I bought it for. I did a cash out refi and am under contract for house#3 that has an ADU that I can use as another STR. Maybe some of those strategies could help in your case? I'd be happy to provide more info if you want it. Good luck!

I'm under contract for my 3rd property, which I'll be househacking, using the ADU as an STR. Most the investors I talk to regularly are flippers so I feel like they have different metrics than what I can use house hacking. The properties I've gotten aren't so distressed because I have to be able to live in them, so they're closer to retail price. The property still could use about $35k in repairs. I'm holding the properties long term. I'm generating income from using part of the property as STR and/or roommates. I'm usng owner occupied financing. I'm still getting the hang of using BP calculators and spreadsheets. I think this new property could cash flow about $150/month, CoC return is about 9% and doesnt quite meet the 1% rule at 0.8%.

Is that good enough for holding/house hacking/STR? Even if the numbers are low, is the experience of doing another deal worth the hands on education? Any other house hackers out there want to commiserate with me? Thanks in advance for your input.