All Forum Posts by: Stone Saathoff

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713-305-7995

Congratulations on your first deal! Looks beautiful. 

@Odie Ayaga

Really just looking to have something lined up so he can close.

Good afternoon, recently I've been working with an extremely interested buyer for a distressed 47 unit apartment complex I have available in south TX. We have talked to several hard money lenders, commercial lenders, even some commercial banks in the area. So far everyone is moving very slow, we need to get this deal closed in under 3 months. What are our options? If you lend in south TX please reach out. If not and you have a valuable opinion to share, let me hear it!

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Not a concern at all. I see rentals fly off the shelves with similar specs to that on a regular basis. As other have mentioned, it may be even easier to rent it out if you're in a more central location to the town of the subject property. I wouldn't worry at all though.

A hard money loan would be a good option since they can fund 100% of a rehab. I'm not sure who is active in that market since I work in San Antonio, Texas but if you dig in a bit I'm sure there are some available for you.

Section 8 is great in the current market. Rents are either wholly or substantially subsidized by the government. Low risk!

Also coronavirus is more than likely to lead to more people applying for the section 8 program.

Haven't seen the effects play out quite yet here in San Antonio, Texas, but I would be willing to say it's looking promising for section 8 landlords.

Check out the San Antonio, Texas area! If you'd like to have significant cash flow I would definitely recommend a value-add strategy. Don't hesitate to ask me if you have any questions, that's my market.

This is an example of a rehab that one of my team's investors did, below is my info for those who would like to see properties. Call me!