All Forum Posts by: Gregory Murphy

Thanks for the response Anissa, I mispoke in my last response. I meant to say I was staying away from the west side, the NE portion is where I targeted and ended up purchasing

Thanks for the info Robert! I decided to stay away from the east side of San Antonio, I wanted to target the NE part of San Antonio due to it being closer in proximity to New Braunfels and Austin. I am hoping the appreciation we are seeing in those markets will start to flood into the NE part of San Antonio in the near future. I am currently in escrow on a property in close Proximity to Randolph AFB, it has great value add potential and is a good potential STR or even long term rental since rents have been rising pretty rapidly in that area.

Hey BP!

After 3 years of saving, learning everything about real estate investing that I could possibly get my hands on, hundreds of hours listening to the BP Podcasts, and many late nights scrolling through Redfin and Zillow, It is finally time for me to start my real estate investing journey. I am going to house hack my first investment property in San Antonio, I am looking for single family houses with a detached studio. I got pre-approved, have a great agent and currently have offers placed on properties. My plan is to live in the detached studio for a year while renting out the main house or putting it on Air BNB, then after a year I will buy another one and rent the studio out! I was curious to know if anyone here has Air BNBs in San Antonio, I would love to connect and hear your thoughts on Air BNB in the San Antonio market. I'm looking in the north east part of San Antonio in the surrounding areas of Alamo Heights. What are your guys thoughts on the east side of San Antonio? I have heard mixed reviews. Also, any advice from other investers who have Property in San Antonio would be amazing! I am looking to build my network with people who genuinley love real estate investing and would love to connect with anyone who fits that box.

@jonathan k 

@Jonathan K. Have you considered leasing a house and then renting out the other spare bedrooms? That will require less cost up front and can help you save for a future down payment as it can keep your housing expense pretty low. 

Hey Jonathan,

Bryan gave some good advice. However, I would not be worried about a massive housing crash. There is a massive under supply of housing backed by a big demand. It is possible that we will see the housing market steady out, but a massive crash is not likely. I would focus on the long term, 10+ years out, and focus on how much equity you could gain throughout that time. Even if the market does dip in the short run, it would not effect you if your plan was to hold your condo long term. 

For the question on whether you should wait or not, If you find a condo that works good for you, I would go for it. However, don't just buy something to buy something. Hope this helps, feel free to reach out if you need any help or have any other questions.

I agree with Dan, I think you should have took a little more time to do your market research. I would just focus on finding the best possible tenant out of your applications, and not try to bid up the rent. If it happens naturally, then that's fine. Sometimes people will tell you that they could pay a little more if that means they can get accepted for the apartment, but let your applicant bring that topic up, not you.

@George Otiono

Sweet! Let me know if your friend needs any help. You can always PM me for my info. Hope he finds a place!

@George Otiono

Just like Jesse said, Long Beach is a decent sized city. There are a few single family homes that still pop up for sale around the $500k price range, however, these houses tend to be really small, anywhere from 600-1000sqft with some few exceptions. A lot of them are also not in the nicest areas of Long Beach. That being said, I think the condo route would a better decision. There are more condos your client can choose from that fit his price range and he will also have more flexibility on the area in LB that he wants to live in. Hope that helps!

@Aspen Labrador Hey Aspen, there are definitely many agents to choose from. I’m really familiar with the Orange County area and I’m always looking out for good real estate investments in this area and running the numbers on them. Are you looking for something specific like a house hack or flip? Let me know if you have any questions. Feel free to PM me.

Greg

@Caleb Haynes Hey Caleb, I’m not from Texas but I’m in Southern California where we are experiencing an extremely hot market too. What people are doing here to get properties accepted is offering 3% of the purchase price as earnest money and also waiving inspections and appraisal contingencies. For investing, waiving contingencies and appraisals may be a little risky depending on your experience. However, maybe try increasing your earnest money deposit to 3%. Good luck!