All Forum Posts by: Robert Finn

Welcome to BP! 

Will the current property still cash flow long term, with today's rates after the refi? Also, having a pool is a huge draw for STR demand in South Texas. Depending on management fees, permitting, and how much start up costs will run, it may make sense to hold. At the end of the day it's all about what you and your wife are most comfortable with. Looking forward to hearing about your successes!

San Antonio is another market that has tremendous inward migration and year round travel demand. When looking at small multifamily we are seeing great ROI's on short/mid term stays in one unit while renting long term in the other(s). I write a permitting approval contingency in every offer to ensure the strategy can be executed after purchase.

@Alex Pino Welcome to BP!

We acquired a duplex in 78209 a few years back, in which we added value by reconfiguring the footprint and adding in unit laundry. The rents have been stellar with the updates both on the Short and long term side. Also seeing opportunity in the Edison/Beacon hill area with multifamily. I'd be happy to help if you're still looking!

Congrats @Tyler J., you're taking the right steps, seeking advice and information here on BP! I'd advise to write down your financial goals with this investment and then narrow it down to a REI strategy that makes sense for you. Longterm, short term, mid term, house hacking, and BRRRR are just a few of many strategies you will find here on BP. Look through the forum categories, start up guides, and research potential markets you'd like to invest in. Factor in sales prices, debt service, start up capital, what kind of return you're looking for, and connect with investors in those markets here on BP. Hopefully they can provide you all the local information you need to make an educated decision. Best of luck to you on your REI journey!

When I invest OOS, a must for me is that the realtor owns or manages an STR. I'll also need to know market specifics like what amenities stand out, average occupancy, permitting, contractors, neighborhoods, inward migration, medical districts, and travel points of interest. These are just a few topic points, but it really helps to have some questions ready before the interview takes place. Best of luck on your REI venture!

Welcome to BP!

In San Antonio, we see plenty of value add opportunities with 2 bed 1 bath conversions to 3/2. A well done garage conversion also is a great value play, they are common around the city but most are not done correctly. The BCAD will help with property and land info during your search, to see where the value add is. This past spring I completed a BRRRR in 78209 and was able to get all of my capital out. Best of luck! looking forward to hearing about your successes!

Nice breakdown! I’d be interested to see the insurances premiums on those water front or near by properties. Wind and flood gets expensive, especially for rental properties. 

Agreed with the above posters, small multi family is a great investment vehicle to scale quickly while still benefitting from owner occupied loans. You could also treat it as a live in flip and add value to the side you're living on while you're there. We did the same with our duplex, remodeled over the course of a year and plan to do the other side when the tenant moves out. The previous owner was having trouble selling as they were using rental data on a word pad to justify a higher price. They were on the market for a while and were able to negotiate them down and get a great deal. 

My wife and I were in a similar position 2 years ago and we ended up choosing San Antonio for STR. Drive in location, theme parks, military, medical district, and historic draw (Alamo, riverwalk) were a few reasons we started here. OOS investing is common here as well, just takes a few interviews with property managers and some research on how they perform.

I agree with Jordan, the CE Shop has an easy to use interface and good test prep.