All Forum Posts by: Kent Agill

@Jack Dwyer There will be 6-8 units on this lot.  
@Joanne Szewc Thank you.

Hi, I am Kent and I am first time out of state investor trying to get into RE in San Antonio.  I have been researching the market for a while and want to move forward with a smaller endeavor - to start construction on a quadplex closer to W Poplar St and Ojeda park (78207) 

From what I have gathered from Zillow, surveying similar units, most layouts are 1bed/1bath, 650 Sq Ft renting for $600-$650 or 2bed/2bath, 900 Sq Ft renting for $850-$900.   However, these units have been sitting on the market for a while.

https://www.zillow.com/homes/for_sale/2086746023_z....  

https://www.zillow.com/homes/for_sale/2087953329_z...

What do you think about - 
1.  The rental potential for this area - Do the numbers posted above sound accurate?
2.  What is the layout that makes most sense for the demographic there?  I have been advised not to go with 3bed/2bath and prefer smaller units (1b/1b or 2b/1b or 2b/2b) given the lower rental prices.
3.  I hear that fire sprinkler system is mandatory for newer builds of more than 3 units.  Given that this is expensive and renters don't exactly care about this, would you recommend I do two duplexes rather than a quadplex, meeting the fire safety regulations?
4.  Any lenders that finance these kind of projects locally.  

I have heard about REI groups from this great post - https://www.biggerpockets.com/forums/757/topics/64..., are there any that are broadcast to investors not staying in SA?  Thank you!

@Troy, I am neither.  Looking for a solid GC at the moment.

@Sterling, sent you an invitation and some more details.

Hello! I want to startout my real estate investment by constructing a few multi family homes (4plexes or 2plexes, preferably 3bed/2baths) in one of these zips.  I have tentative lots that I have identified and numbers look feasible.  What I could not determine is how the low income status of these neighborhoods would mean for rents in general and resale possibilities in a few years.  Any inputs on the following would be highly appreciated.  

- Schools

- What kind of renters I could expect at these zips 

- Would $1000-$1100/month be inline expectations for potential B grade 3bed/2bath rentals around 1100 SqFt?

- How should my strategy differ if I want to resell these units in 2-3 years?

From what I have gathered 78228 seemed a better neighborhood than 78207 and slightly better off.   I have done some preliminary research into these zipcodes and have demographic stats of the neighborhoods.  Having said that, nothing can substitute advice from someone who has first hand knowledge about these areas.  Looking forward to your responses.