All Forum Posts by: Stone Saathoff

First step if you know what you want to do already would be getting pre approved with the banks, and getting with hard money lenders if that's something you want to utilize. They qualify primarily based on the deal but you can make that part go much quicker if they already have your information.

If you haven't picked a market yet I would definitely recommend San Antonio, Texas.

That definitely sounds high... I would agree, hourly + materials is much more fair. Did you attempt to negotiate or mention to him that sounded high to you?

Building up knowledge, finding a career path you're excited to work in, and building up capital should be main focuses for you. I'm only a couple years older than you at 21 (almost 22), have fortunately found the first 2, now building up capital and looking to achieve more in my career and personal investments.

Starting young is awesome. There's a very bright future for both of us so long as we stay committed.

For those local to central TX and those out of state, San Antonio is one of the most recession-proof markets there is. Along with that, prices start at the very low end. As low as 30K. I would highly recommend investing here and if you don't have a great source of inventory please go ahead and reach out to me directly. 713-305-7995.

@Clint G. @Greg H. @Joseph Cacciapaglia

Thank you for sharing your thoughts. That's great insight.

You could probably keep it under wraps for the time being and just keep paying, I don't see how you could totally rule out the chances of the bank calling the note due for the future.

Looking for answers specific to san antonio. That's a very negative outlook James. A 50% price drop? You can't be serious.

Upsetting your buyers agent?? They are supposed to represent you, that doesn't sound right. 

If you're talking about the sellers agent I've heard the line go something like "I'll be coming in significantly under list price. I don't want to offend the seller, would it be worth giving them my offer?" 

Their answer to that will give you some idea if they are willing to take a price far below asking.

The one thing I keep hearing when I talk with other investors on the phone, especially newer ones, is that they are waiting for some sort of real estate market crash. A big price drop. When I've looked into neighborhoods in San Antonio where I've sold properties in the past doing research, even during the major housing crisis back in the late 2000's, I didn't see any major price drops. They only leveled off for a year or two. So my question to all the other BP members, especially if you invest in San Antonio, Texas or if you're familiar with the market, what do you expect to happen? I personally don't see any significant price reduction coming, but I'd like to hear other opinions.

For those towns right now that have houses available for under 30K on a regular basis, I'm sure they will still have properties available under 100K 10 years from now. In my local market of San Antonio, Texas I doubt we will have many properties available under 100K in 10 years, but for other parts of the US, certainly.