All Forum Posts by: Robby Sanchez
Robby Sanchez has started 24 posts and replied 108 times.
Post: Looking for GP to join my team
- Inspector
- Austin, TX
- Posts 109
- Votes 40
Hey guys, I am looking for a GP to join my team at Frontline Multi-Family capital who can raise capital for deals. I will take care of finding,underwriting and managing the deal. I am looking for deals in austin Texas and the surrounding markets. 100+ units 1980s and newer. With 6-8% cap rates. We are looking to get investors 8% COC. Pref returns can be negotiated. Conventional financing and value add strategies. I have a sponsor available that can sign on the deal. Please feel free to contact me for more information. Have a great day!
Post: stupid question time!
- Inspector
- Austin, TX
- Posts 109
- Votes 40
Quote from @Chris Seveney:
Quote from @Robby Sanchez:
can you refinance at the end of an interest only loan into another interest only loan?
That depends - if its a short term hard money loan possibly, but expect to pay more for it.
I would first ask your current lender if you can extend the loan. We have bought loans like this from existing lender as well as refinanced borrowers into a new IO loan.
It can be done but each situation is specific and would be underwritten to see the risk and what the exit strategy is. thats the key with shorter term loans - understanding what the borrowers exit is.
thanks for the answer chris! Its not a question for me specifically. I am learning about financing right now and that question just came into my head. But now that i have you here. what about bridge loans? once the loan comes due for a bridge loan what are your options? Is risk the what matters most when refinancing? or are there just certain loans that cant be refinanced into other ones regardless of risk, DTI, etc.?
Post: stupid question time!
- Inspector
- Austin, TX
- Posts 109
- Votes 40
can you refinance at the end of an interest only loan into another interest only loan?
Post: Will Austin real estate ever come back? If so, what rough timeline?
- Inspector
- Austin, TX
- Posts 109
- Votes 40
Quote from @John Gonzalez:
Thank you, I do hope all this plays out. I worry that Austin's prices have - even with the slowdown - gotten to the point that people are asking: "Why am I paying this much to live here? Traffic is a zoo. The summers are red hot. Austin's got California prices without the California weather, attractions and infrastructure".
I've been paying close attention to the Austin area and I don't mean to be a downer but some of this news is not well known:
Samsung not exactly setting Taylor Texas on fire:
https://www.reuters.com/technology/samsung-delays-taking-del...
Austin ranks as the 5th city with the highest number of people leaving:https://cbsaustin.com/news/local/austin-ranks-5th-among-us-c...
Ghost unfinished communities: https://www.reddit.com/r/Austin/comments/1gvr5ex/ghost_neigh...
As far as the construction stuff. That's not just austin lol that seems to be a texas thing. Traffic does suck. And the tolls piss me off but the opportunity for business here is great. Infrastructure needs lots of work and yes the heat really sucks but i still think the pros out weigh the cons.
Post: Will Austin real estate ever come back? If so, what rough timeline?
- Inspector
- Austin, TX
- Posts 109
- Votes 40
Quote from @John Gonzalez:
Thank you, I do hope all this plays out. I worry that Austin's prices have - even with the slowdown - gotten to the point that people are asking: "Why am I paying this much to live here? Traffic is a zoo. The summers are red hot. Austin's got California prices without the California weather, attractions and infrastructure".
I've been paying close attention to the Austin area and I don't mean to be a downer but some of this news is not well known:
Samsung not exactly setting Taylor Texas on fire:
https://www.reuters.com/technology/samsung-delays-taking-del...
Austin ranks as the 5th city with the highest number of people leaving:https://cbsaustin.com/news/local/austin-ranks-5th-among-us-c...
Ghost unfinished communities: https://www.reddit.com/r/Austin/comments/1gvr5ex/ghost_neigh...
Samsung production is delayed because they didn't get the deal with Qualcomm. But samsung isn't going anywhere and is only a small piece to the bigger picture. I used to live in California and the prices are bad here in austin but not nearly as bad as California. There are plenty of attractions in austin! And great food!
Post: Austin Metro keeps expanding rapidly. Developer is planning on 14000 homes Jarrell
- Inspector
- Austin, TX
- Posts 109
- Votes 40
Quote from @Mary Jo Carruthers:
Austin metro keeps expanding. Jarrell is planning on a population surge of 50,000 new folks. Jarrell is on the north side of Georgetown and within the very fast growing Williamson County. That shows the growth patterns of the metro. Very interesting!!!
yes! Austin is a sleeping giant right now! new construction homes everywhere. many people waiting on the fence. once the rates drop its going to get crazy again.
Post: Will Austin real estate ever come back? If so, what rough timeline?
- Inspector
- Austin, TX
- Posts 109
- Votes 40
Quote from @John Gonzalez:
I'm trying to logically, carefully map out my decision around whether or not to sell my rentals in Austin.
1. Austin is now the #1 market for real estate correction after being the steepest climb during COVID: https://www.reddit.com/r/Austin/comments/1bhrm8k/once_americ...
2. Companies are leaving Austin. Whatever math led them to move here, has now been reversed and my thinking is that they will have had high powered actuaries et al behind their decision to leave. led them to decide to leave, are going to be the same ones that prevent the appreciation or demand for my rentals in Austin, to stay at a healthy level.
https://www.mysanantonio.com/business/article/austin-loses-t...
https://finance.yahoo.com/news/meta-leaving-austin-office-gu...
3. Airlines are cutting routes and plans due to lack of demand in Austin: https://www.statesman.com/story/business/2024/09/17/american...
4. My rentals will thrive only with a return to the office. I believe WFH is a concept which was long overdue and whose time has come and I do accept my losses. Dell tried to enforce RTO pretty strongly but seems to have failed: https://finance.yahoo.com/news/nearly-half-dell-full-time-21...
Dell employees seem to have called their bluff and dug in their heels and won - they are - at least for now - WFH
There are other factors but above are the top 4. With this background, my questions are:
1. Will Austin real estate ever come back? Not to the highs that it had earlier reached in the bubble, but at least to the point that a new well-priced, high quality listing gets SOME interest (say 10 calls and 4 showings within a month) as opposed to being on the market for 80-100-120 days with no calls? If you think it will never come back, why not? If you think it will come back, why and when?
2. Do you think Austin real estate will come back when rates go down? Or has Austin lost it's charm and verve and energy to the point that even if rates come down, people are less likely to move to Austin or invest in this city?
3. If you are a *non-full priced* real estate agent in the Austin area and are interested in my business selling my multiple rentals in the next few days, please send me a message
Thank you
Post: New member looking to connect
- Inspector
- Austin, TX
- Posts 109
- Votes 40
Quote from @Meena Mallik:
Hello,
I am new member from Austin,TX looking in to invest in commercial real estate and looking to network and understand commercial real estate scene in Austin. I am on a visa and am interested to find out how much I can afford and use it as guidance on type of commercial property to research in to as this would also be my first investment.
Thanks
Mallik
welcome to austin! I live in north austin, if you are reffering to multi family then austin is the place to be! the economy is super promising and the future looks bright as far as appreciation goes. Let me know if you ever need anything! I am not too far away!
Post: Cash-Flow Breakfast Club - Houston TX REI - Bigger Pockets Investor event
- Inspector
- Austin, TX
- Posts 109
- Votes 40
Quote from @Omni Casey:
https://the.cashflowbreakfastclub.com/HoustonTX
Calling all Houston TX area real estate investors and real estate professionals!
Join other local real estate investor rock stars and secure your spot as a founding member of the Cash-Flow Breakfast Club – Houston TX chapter!
This is a FREE real estate investor education, mastermind and networking event. It is open to the public, however there is very limited seating. Make sure to RSVP today to reserve your spot.
Very limited seating. In-person only
Make sure to RSVP today to reserve your spot.
When: January 22, 2025 @ 5:45PM - 9:00PM
Where: Texas Real Estate Investment Center
5295 Hollister Rd, Houston, TX 77040
man i wish i could go to this! But i live in austin!
Post: Is Killeen a good place to buy small multi-family rental?
- Inspector
- Austin, TX
- Posts 109
- Votes 40
IMO killeen is a solid investment. just have to watch which areas you are getting into. there are some pretty rough areas near fort hood but killeen is great because it is close enough to austin and people commute from there to austin as well. with fort cavazos near by and the new samsung plant coming online in taylor, it is a solid choice with steady demand for MF.