All Forum Posts by: Michael Encoy

Hello BP Folks,

My family is headed to San Antonio in August and we are reaching out to realtors as we are in the process of searching for a home and an experienced realtor in the area. I will be working at Fort Sam/Lackland area and we would like to secure a purchase and close in time of our arrival.

We are looking to purchase and then turn into LTR within 3 years. We are looking at areas between San Marcos and New Braunfels and I’d like to discuss pros and cons of the areas for cashflow and appreciation potential.

Please message me if you or if you can refer me to an agent.

Thank you all!

@Vik J. Not familiar with the area, but interested in buying LTR for the tech influx who will need housing. Is Georgetown one of these ‘hot’ areas?

@Neil Narayan greatly appreciate this thread along with others related to this area. Currently located in central CA, so close enough to San Jose and SF to know about pricey markets. Austin proper piques my interest as a long distance LTR investor. So any guidance from local agents or PMs are welcome. How about areas outside of Austin such as Georgetown? Are there any prospective areas to hone in on? Thanks!

Congrats, Veronica!  We will be heading up there later this week to look at str properties.  I have an agent and have spoken to a couple of PMs, all seem great.  Are you self managing?

@Ana Bedevyan Hi Ana. My partner and I will be headed up the mountain (Big Bear) in search of STR properties. May also look at Running Springs since inventory and prices aren't really favorable in BB. Have you moved forward with your purchase?

Peter, were you able to secure a PM in the area? I am looking at STR opportunities in Arrowhead and BB and wanted to compare PM services and cash flow potential.

A bit late to the party here, but I was wondering if you pulled the trigger on BB. I am looking into the same area vs JT. I took a dive into the PS area market for STR and LTR (niche market), but COVID and a restrictions regarding STRs drew me away.

Charles,

I would definitely suggest securing an agreement with an operator first before closing on a property.  There are really no standards to these types of agreements so you may have a lot of conditions you can put in place (e.g. lease starts upon closing=you will not be paying a mortgage).  You can also set your own lease amount independent of the local market.  Remember, operators make around $3500-6000 (maybe off a bit, please correct me if you find more accurate numbers) per client, so if they are lisenced for 6 and are full, you can do the math.   But some things to consider when you're scanning properties:  Single story, slab foundation, 3br/2 full bath at the least, wide halls/doorways for wheelchair access.  

Anyhow, good luck and keep me posted.  It's difficult to travel south (I'm currently living on the central coast) to look at property.  

Charles,

We were actually in between tenants and the current tenant/operator actually reached out after seeing my listing on Zillow and he proposed this model.  Coincidentally, I was looking to be an operator but my current job requires that I stay pretty mobile.  Fortunately I used to work with ALF administrators in the past and very familiar with the model.  So pretty much lucked out and now looking to scale with the same model of investing.  What area are you looking into?

Charles,

Were you able to find an operator to work with or the property? I currently rent to an operator in LA County. This was a great opportunity with more than positive cashflow. Most of the specifics in terms of prepping the SFH would be negotiable with your tenant/operator. My home was not designed as an ALF, but minor modification fell on the lap of my tenant, but he was definitely well prepared and had ample experience within this realm. I am looking to scale up and find another deal with the same investment model in mine. I'm looking towards the IE and currently looking to interview operators within this area. Other than calling each ALF listed in these areas, are there any active forums I can subscribe to or participate in to communicate with this submarket?