All Forum Posts by: Travis C.

I always do. This one has slipped away, but I am happy to say I am under contract on a foreclosure I found near me as of today that was an REO on the MLS.

Thanks Jonatan. Let's just say that for anything outside of the MLS I would personally want the seller to pay for the title policy so I don't have to go off and pay all these fees up front as the buyer only to find out the title is not clean or something. So my rentals vary in rents. A few of my long term tenants have received rare rent increases just because things have gone quite well. The ones around the Sunset area at 1604 and Marbach go for $1000/month and are 1 story but I have an even smaller one in Canyon Crossing at 90 and 1604 (851 sq feet) renting for $865. Market rents for those are about $1200 but I take some solace that the tenants are taking real good care of those properties. My nicer properties are closer to Potranco and 1604. Both are 1 story and go for $1400 per month each and all are occupied. I live on this side of town and self-manage so I like to keep things within reach as a general philosophy although I would be willing to venture out in the county elsewhere too. I have been looking at the Shaenfield and Braun area outside 1604 lately for a rental. After pulling cash out, I like to make about 200-300 month cashflow generally speaking and I have a strong preference for single story typically which eliminates alot of what I see and has put me in a narrow minded predicament probably:)

yeah, that's about where I am with it and I think I just need it validated. Many thanks.

Happy Monday,

I am a buy and hold investor in San Antonio owning all of mine on the fast growing far westside. Have bought all mine as REOs in the past directly from the MLS most recently as last month, but am having a more difficult time than normal and I am currently on the market. I get that deals are hard to come by, but I would like to cash flow $200-$300 a month after a I pull cash out 80% LTV following an all cash purchase and I know this is totally doable (I self-manage). Just everything on the MLS is sold, pending, by the time I get to it.

Anyone have any ideas on where to deal hunt outside of the MLS locally? I really don't want to get into mailing post cards unless someone can actually tell me any viable success stories affer having done so. I know I receive them all the time and just throw them away, but then again I'm not looking to sell either.

Maybe I will start going to the local RE Investor club meetings. I've yet to do it, but I am sure it may be worthwhile to network, at a minimum. 

I personally am a proponent of serving in the military; both for patriotism and to pay for your education. it will provide a strong base and work ethic fir your entire life showing you that you can persevere mkre than you would have ever known. It also gives you pride in a way that is different because it is not something many people do nowadays (less than 1% of US population). All based on my experience but I understand it is not for everyone supposedly.

I figured as much. Thanks for the response.

Hi BP, my wife and I own multiple rental properties (all SFH) here in San Antonio that we mostly picked up in the depths of the foreclosure crisis. All were on the MLS and I have never bought a property without a real estate agent. This brings me to BP. i ha e an opportunity to pick up a property (all cash) and it will,be worked out directly between me and the seller. The premise here is to (a) find a real esttae attorney and (b) find a title company to do the due diligence on the title and to issue a title policy, right? Am I missing anything? After buying quite a few rentals I feel a bit silly for asking, but this is a new transaction type for me so why not put it out there on BP:) I appreciate it!!

Which software package will, at a minimum, generate 1099's for contractors? Simple question, but I am in the market for my first software package for this one thing really - small time investor with a few properties managing them myself.

at least it isn't San Francisco!

Very true. We were just getting started on our first rentals back during the last downturn and I absolutely remember. If/when something happens along the way again, we will ride it out once more I suppose. Not flipping and people need roofs over their heads. Luckily, many of my tenants are military tenants with solid income streams of their own. In it for the long haul and we will all weather storms along the way. That is the one certain.