All Forum Posts by: Jacob Pereira

R Bank has always been my go-to for commercial loans, but they're so inundated with deals right now you'll definitely want to make sure you have all your ducks in a row before you go to them. They're also only accepting Texas residents at the moment (not sure where you're located).

I haven't had a chance to use her yet, but I've had a few phone and email conversations with @karenschimpf, and she strikes me as a very competent individual. It might be worth reaching out to her as well.

Back when I still owned an A/V company and knew nothing about real estate investing, I bought a new build. It was pretty close to the height of the real estate bubble (2006), but I was also just looking for a suburban home on the greenbelt to live and work out of. It ended up working out, but now I generally only do single-family if there's some kind of significant value-add I can bring to the table.

As others have said, it's definitely harder for investors to get into new homes right now, but you definitely can if you (or your agent) aren't afraid to pick up the phone and call around. Cashflow in year one is next to impossible unless you put a large amount down, but the appreciation play is super easy; buy early in phase one while it's still mostly a construction zone, and then...wait. Once construction dies down you'll see immediate appreciation vs. the rest of the market.

@Jordan Moorhead, I can't seem to find your podcast by searching that title. Can you provide a link (not sure if BP will allow you to)?

As far as topics go, I'd be most interested in hearing hyper-specific Austin topics, such as how to navigate the local permitting process, what are the newest and most impactful projects going up right now, how is current and pending local legislation affecting our business, etc.

Jay Zuniga. He does all my properties and I recommend him to all my clients. He's pretty busy (as all good HVAC guys are), but if it's an emergency he'll find a way. Quality work at a good price. PM me and I'll send you his contact info.

I have the same caveat as @Arn Cenedella, so keep that in mind.

It seems to me that you answered your own question; everything is better for your purposes in San Antonio, except that Columbus is cheaper, so you could buy more properties. There's something to be said for spreading out your investments, but only if they're comperable. To me it's very obvious which one to pick in your situation, but they're both good markets.

@Andrew Floyd

I'm always open to good duplex leads. Feel free to PM me with that opportunity as well.

What you're looking for is pretty much what everyone is looking for. It's pretty rare to find a fourplex that's turnkey at a price that makes it make sense. Are you still in Chicago and looking to move here, or do you live here and just invest in Chicago? Either way, since you'll be living in it I HIGHLY recommend you take a look at the the neighborhood of your fourplex before you buy it. The vast majority of them are in the rougher parts of town (not that there are any truly "rough" neighborhoods in Austin). Currently the ABOR MLS which includes a Austin and a wide swath of the surrounding area show 17 fourplexes on the market.

I think it's very telling that all the Austin-based people are saying it's common, and all the people from other parts of the country are saying to move on. It's just part of being in a market in a housing crisis. In my opinion, we still have years of this ahead in Austin, but who knows?

@Andrew Bissada In Austin it's VERY common. It blows my mind that sellers are so willing to walk away from money in order to not inconvenience their tenants, but I run into it all the time. It's such a seller's market for 2-4 unit properties that they're probably only losing a few $1000 at the end of the day. My recommendation is to look at the quality of the property as a whole and assume that the occupied side is slightly below that. If your offer is accepted you have the option period to renegotiate the contract if you made a mistake in your assessment of the occupied side. Worst case, you walk away a few hundred dollars poorer and an experience richer.

@Karen Schimpf, sorry to hijack the thread, but I've only done a few commercial deals so far, and all over a million. I have a client right now who is based in California but looking to buy an 8-plex in the Austin metro area for under $1M. What other options are there?