All Forum Posts by: Seth Teel

Join us next Tuesday 1/7/20!
We're back at our usual location (Joey's on N. St. Mary's). We'll be hosting our monthly real estate investor networking meetup and happy hour.

All our welcome.
There is no cost to attend.

Bring you questions, your business cards, your wholesale deals, and anything else real estate related.

See you next Tuesday 1/720!
6pm - 8pm 
Joey's Bar
2417 N St Mary's St, San Antonio, TX 78212

Several of our clients own properties that participate in the Section 8 program. Here in San Antonio, everything is run through the San Antonio Housing Authority (SAHA). 

SAHA has criteria for thr unit to be elgible for the program. Depending upon the tenant a portion or all of the rent will be covered by SAHA.  One nice thing about the program here is that of the tenant screws up and gets kicked out of the program, they cannot reapply for 2 years. This is a pretty strong incentive to adhere to the rules. 

One other item of note, is that often you may be able get a small premium in your rent rate over non-SAHA rentals in the same area. This helps hedge against a no-pay or slow pay tenant.

@Ryan Snelson

Not trying to hijack this thread, but I am curious what types of loans are you getting Texas Mortgage Capital: conforming non-conforming, private capital, investment, and/or commercial?  I've never heard of this lender, so was surprised to learn they are just down the street from my office.  

@Pat Jackson

When I lived in Missouri, Sean Zalmanoff of USA Mortgage (St. Louis) was my "go-to" mortgage guy.  He even did a couple loans for me here in Texas. He is also an investor and understand the non-conforming loan side of the business. If Sean can't provide what you're looking for, he will know who can.  If you want his direct contact info, shoot me a DM.

My brokerage doesn't do property management, so we recommend Rachel Bruno with Re/Max Unlimited to our clients.  She has been handling the property management for several of our clients for over five years.  She has a great team, and they are bilingual.  If you'd like her contact info, PM me; BP rules won't let me post it here.

Join us next Tuesday 12/3/19!
We'll be hosting our monthly real estate investor networking meetup and happy hour.
We're back at our usual location (Joey's on N. St. Mary's).
All our welcome.
There is no cost to attend.
Bring you questions, your business cards, your wholesale deals, and anything else real estate related.
See you next Tuesday 12/3/19!

@Zelda Rogers

In addition to the points brought up by @Frank Rolfe, you will also want to familiarize yourself with transferring mobile home titles in the State of Texas.  For that you will need to go the Texas Department of Housing and Community Affairs (TDHCA) website: https://www.tdhca.state.tx.us/mh/index.htm.  You will also want to engage an attorney that is familiar with owner-finance transactions, so they can draw up the documents and make sure you complying with the Dodd-Frank legislation.  

Lastly, are you purchasing the Mobile Home only or does that site come with the sale?  If the small plot of land comes with the sale, it's likely going to have to be two transactions, one for the sale on the mobile home (non-realty), and one for the sale of the land (real property).  These can typically be done simultaneously and through the same escrow agent, but it can be cumbersome if your title company hasn't handled these types of transactions before.

This month we will be CHANGING LOCATIONS! We will be hosting the MeetUp at 127 Waldo Dr. 78209. This is a new construction project completed by Somos Real Estate and Alamo City Assets.

Come ready to network and don't forget to bring your deals!

Beverages and snacks will be provided.

*** FREE TO ATTEND ***

@Tim Johnson @Brandon Kingcaid  Or reno using the Homestyle product was over $100K.  

@Aaron Bihl