All Forum Posts by: Stone Saathoff

Yes. Use a hard money lender first, they will fund the majority of your purchase and usually all of the rehab, then re finance with a traditional mortgage.

Typically for investors I work with in the San Antonio, TX area, I only recommend this if they don't have enough cash to do the deal without it. Sounds like you are working on something bigger than the single family rentals I mostly deal with though.

Let me know where you're located and I may be able to refer you a hard money lender.

Aside from the great statistical sites @Alex Olson mentioned, I would also hop on google maps street view and virtually drive the neighborhood. If you're looking in neighborhoods near where you live obviously you can just go in person but for those that are farther away it really is a helpful tool.

Turn key will definitely pay you less but that's because it's in the name... TURN KEY! You don't have to do anything.

If you want to make more you need to do your own rehabs and buy distressed properties below market value.

Definitely more hands on, but seem people have definitely managed to make it happen, even with their own full time jobs.

Based on the numbers you gave the cash out refi isn't totally off the table. Still cashflowing 300$/month and having 70K to put towards your next deal works, especially if you're now looking in San Antonio since the prices are so much lower.

If you did a 1031 exchange you could pick up another duplex here or even get multiple single family deals going.

What is the goal for you? More doors period or more doors on one property? The refi will give you more doors period but the exchange opens you up to getting a larger multi family property.

That's awesome, congratulations. I just turned 22 and it's inspiring to see others doing well at this age.

Hope it turns into many more, cheers.

That doesn't sound like an offensive offer at all. If the deal works for you at that price, offer it.

If you were offering significantly below, you could always have some type of conversation like "I would be coming in significantly below the list price, is it worth presenting my offer?" and you can gauge their reaction, but that isn't necessary when you're only 25K off at a price point like this, in my opinion.

Hi, my name is Stone and I'm a wholesaler in the San Antonio, TX and surrounding areas.
I work primarily in single family, but also some smaller multi family, vacant lots, and commercial deals.
I'm currently looking for more cash / hard money buyers to send wholesale deals to! 

If that's you please fill out this brief form so I can start sending you deals!

https://forms.gle/y7NJRaBHp5re...

Look forward to working with you,

-Stone

Answering for the San Antonio area

1. Positive outlook. Many big companies, especially Texas brands have their HQ here. Also a big military presence which is a bonus for a lot of reasons (more below). Diversified economy.

2. For areas to avoid, especially for you as an out of state investor, are the neighborhoods with a higher crime rate. I would suggest checking out neighborhoods near the military bases, if not anything north east, north west, or north central.

3. Roughly a month. Texas is generally considered one of the more landlord-friendly states.

4. Yes I can. Most of my work is with off market deals but I certainly have connections with investor friendly agents here as well. And there is one that comes to mind as my top recommendation. 

You certainly can do it part time. That's the way it starts for a lot of people. And honestly, if you have a trusted GC managing your project it isn't as hands on as you'd think.

This is a great way to start putting your money to work and still keep your regular income stream.

100% you can start flipping houses part time.

Get with a RE lawyer for sure.

If it was owner occupied, they knew there was an issue and didn't disclose with the SDN they are in hot water.