All Forum Posts by: Tyler DeVerse

In San Antonio Ive hit the 1% rule exactly on both of my MLS purchased duplexes after I did some improvements (paint, flooring, updating EL/PL fixtures) and raised rents with great cashflow I dont see the 1% rule being possible if you plan to go with single family homes at least here in San Antonio.

Best of Luck!

I would always say leverage, it will become much harder to find a deal but well worth it one you see all the other benefits of having 5 houses get paid down by tenants, 5 houses to depreciate on taxes, 5 houses appreciating.  

Of course are the end of the day it depends on your goals and risk tolerance and as they say, deals are made not found.

Duplex wise I havent found anything cash flowing (after all expenses, current and future) over 300k, even with recent rent bumps the interest rates and recent tax increase (50% in my case) are making it hard to cashflow on any multifamily that I've seen. I also dont do STR so that can change things up and make some of it worth it but do your own due diligence on any potential deal!

Mine went up 50%, in the process of protesting currently.  Best of luck to you all!

I have yet to see a property that meets the 1% rule in San Antonio (Rent ready) yet I am still getting cashflow on my unit and on the ones I have analyzed.  Create a spreadsheet or use BP calculators to get your real numbers and dont dismiss a property that has a .8% rent to price ratio, I cashflow at that ratio after all expenses and putting money away for the rainy days.  

Hello Everyone, 

Is anyone having luck with finding multi-unit properties on the MLS in San Antonio? My partner and I looking for a duplex to BRRRR and we are starting to look into direct mail on a few duplex communities since the MLS inventory is so low, but dont know how to draft the letter since it isn't to a live in home owner. Currently we are thinking of something along the lines of

"While driving around, my girlfriend and I drove past your duplex located at “123 Mainstreet” and we think it is perfect for our first home. If you are interested in selling now or in the future, please reach out."

Any and all feedback is appreciated!

Thank you