All Forum Posts by: Polo Vazquez

You could. But that also means you would have to pay a couple of grand in closing costs and you mortgage would start from 30 yrs again. You could do less, years 25 or 20. It might actually work out better for you doing less  years. Just keep in mind that you pay most of the interst at the begining of the mortgage. This is why banks want you to refinance over and over again. That way they keep your payment interst heavy all the time.

I THINK you would be better off just being as frugal as possible and using all the money you saved to pay of the HELOC as fast as you can. This way when another oppurtunity comes by you have the full 60k at your disposal. Big emphasis on the think. I didn't actually run the numbers but that's what I would do. Unless of course your current mortgage has high interest rate and you were planning on refinancing anyway.

Regards

Hello!

I live in San Antonio. I can help you with a contractor, handyman, insurance agent, mortgage lenders and a CPA!
Send me a private message and I'll give you the contact info of some very good ones I've used and other that have been recommended to me.

Regards

I've used the Home Depot $2ish per sq ft vinyl flooring and it has held up very good. It isn't as think as the new $3.15 flooring but it is waterproof and scratch resistant. Most of the time I look online for discounts and if I don't find one then I go to the store to look for them. Stores will sometimes put store specific leftover boxes on sale and it might just be enough for your project size. I've found $3.15 psf  vinyl at $2 and $2.15 psf vinyl for $1.81. It adds up to a pretty good saving.

@Mike Harris
As a real estate agent you will usually be getting anywhere from 2% to 3% of the sales price of the homes you help someone sell or buy. If you live on a market where the average home price is $200k, that means that if you sell 1 property a month you woudl have sold $2.4 Million in RE and will make in income anywhere from $48k to $72k per year.

I know agents that sell/buy $10million in real state and others that barely sell anything. So it just depends on how much effort you want to put into it. Of course it usually also takes time to build a large client base. Once you have a big enough client base you can even start hiring agents under you and take some of their commission in return for clients (that you can no longer help because you are too busy) and experience. So yes, you can make A LOT of money, but you can also make none and quit your first year like 80% of people do.

If you are weary of doing the change I would suggest you invest first, get some passive income flowing then do the transition to agent. This way the passive income can help you endure the first few years while you build clientel. After year five, more than half of you sales will come from previous clients/relations you've had.

Hope it helps!

You can make a lot of money in West Texas when oil is up because oil companies where paying up to $200 per night per room to house their workers but when oil goes down, like it has twice in the last 7 years, the area becomes a ghost town. You have to be very careful and have a backup plan for when this happens.  

I’m an ex oil worker and worked there a few months of the year Every year. Let me know if you any more questions. I’ll do my best to answer them. 

As the previous people stated. There isn't very many du tri and quad plexes in San Antonio and a good amount of the ones that do exist are SFR illegally converted to multi. If you are open to other cities McAllen/Edinburg are on the border has a lot of quads and there is bunch more being built. However, you mention you wanted to BRRRR and BRRR works very good with small SFR. The San Antonio market is good for BRRRRs

@Rush Blakely

Dm me any questions you have! I'm always glad to help.

Btw I also love the lemonade.com insurance model. They are fairly new and not investor friendly yet. I would only suggest using them for your own home.

Hello @Dan Z., personally I invest in the McAllen for that reason. Its easier to get cash flow, but I will say this. San Antonio properties appreciate almost twice as much and you can get good cashflow if you buy right. There is deals out there in San Antonio. A lot of people are doing it.

I'll gladly DM you my insurance agent's contact.

Hey Jose. I’ll give you my agent’s number. She is extremely good.I’m from the Valley as well and invest there. I’m actually thinking of starting a small group of investors so we can all share ideas. I’m dm you agents info

Hello all. It seems to me that now days everyone wants to invest in real estate and everyone is looking for fourplexes! Making the competition for them higher than normal. I agree with @Stone Saathoff, I have had more luck with SFR. Easier to rehab, the initial investment is lower, turn around is quicker, and and they generally easier to rent and have lower vanacies.