All Forum Posts by: Michael Gonzales

Investment Info:

Single-family residence fix & flip investment in San Antonio.

Purchase price: $145,000

Negotiated 30k off of ask to increase clients margin on his first flip. Very excited to see what he is able to do with the property in the coming weeks

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $145,000

On this diamond in the rough, we negotiated 30k off of ask to increase client's margin on his first flip. Very excited to see what he is able to do with the property in the coming weeks.

What made you interested in investing in this type of deal?

Client's desire to start in real estate

How did you find this deal and how did you negotiate it?

Property had be listed on the MLS with extended time in market. By personalizing with the agent, understanding the sellers position as well as where strategic negotiating points lay, we negotiated at 25k price reduction with another 5k post inspection

AJ! I love that you posted this. Sub To was my introduction into RE investing and boy, was it stressful - but I learned a ton. Connecting with you for more details - by no means am I an expert, but I have been around the proverbial block. 

Could agree more with lessons learned with old homes! Thanks for posting this and keep up the hustle @David Serna

@Kevin D Key definitely keep it to capture the appreciation and it will give you options down the road as well. Since you purchased the home some time ago, I recommend contesting your home's value so you can pocket more of the rental income. HOWEVER, do this after you do your refinance, since the lower tax assessed value may impact your cash out refi amount. 

#teambuyandhold

Quote from @Tara Stivers:

Hi all! This is my first post! Yay! I'm currently at the Bigger Pockets conference in Orlando and trying to research some markets while here. I have 2 STR's in Arizona, but have my sights set on San Antonio Texas and a few other areas. Can anyone share their experience with STR's in San Antonio? Thank you!

Hi Tara! I would agree that STRs are doing well. Im in the process of converting one of my properties over from a long term rental, my others are doing so well. Check out Airdna for occupancy rates in your target area to get a feel for how it will perform. Over the last 3 years, the quantity of available properties has doubled, but the occupancy rate is only went down about 5 to 10%, so I would expect occupancy to hold steady if you’re in a good area of town

Quote from @Benjamin Sulka:

Quote from @Michael Gonzales:

@Benjamin Sulka What are resources that you would recommend? I have several clients that are looking to house-hack and I would love to educate myself on the nuances of it.

Thanks in advance.

 Michael,

The most important resource in my education has been the house hacking forums. Learning from  real experience has been amazing. 

Also, YouTube is an amazing source. Chris Lopez has a series on house hacking that I'm watching currently. 

Hope this helps! 

 Chris Lopez! Thanks Ben

@Benjamin Sulka What are resources that you would recommend? I have several clients that are looking to house-hack and I would love to educate myself on the nuances of it.

Thanks in advance.

Investment Info:

Other buy & hold investment.

Purchase price: $14,000
Cash invested: $14,000

Purchase of MF33 zoned property for future development

Seth! I appreciate the post and looking forward to attending. Every time I get to network with other investors in the area, I always walk away more knowledgable.