All Forum Posts by: Arissa Pedroza

@Troy Williams yes, tenants pay utilities here.  However, the owners are responsible for any vacant and a small portion for things considered common area.  I want to say its around 15%.   There are very strict regulations on submetering and you have to register the property as well as provide a submeter addendum with the lease.  When you get a utility bill, the owner pays it and then bills back the tenant based on square footage.

@Andrew Lee I have a dew HML's that do a cash flow program for only 3 points down. 12% for the rehab and the it converts back to 7.5% after a tenant is in place. Instead of $50k down for 1 house, you can get 4-5. Leverage your money :) PM me for details.

@Colette Chase Tri plexes in SA generally do pretty well.  78207 is a good rental market.  It is very hispanic area and will rent fairly easily and you will usually get long term tenants.  The numbers look good but where did you get your rental comps?  Rents in that area are generally $1 a SF and it says 1600 SF?  Also, you should have the tenants pay all utilities. If the property does not have separate meters for water and elec, you can submeter them and bill them back to the tenants - just make sure you have an addendum called a submeter agreement.  SA is a great cash flow market - especially having lived in Denver for 10 years ;)

I have found the leadmining.co has been amazing!  The founder, Nick, is super helpful and you can do a specific area if you want, just ask if anyone else is in that market :)

@trentonmaye DM me :)

I invest and live in SA. Cap rates are crazy good. Why don't you leverage your money? I know an extremely reputable HML that has a rehab/rental program for only 3% down. You can acquire more properties and then do a commercial loan once they are rehabbed and seasoned.

Having spent 10 years in the Denver / boulder area and having moved to San Antonio in 2014, I can certainly tell you it's a major difference.  I just picked up a 6 plex for 155k that's grossing income is 3600 a month.  The cap rates here are insane. I'm working with an hml that does a rental program for 3 points down. Why take 50k and buy one property when you can buy 5 generating 1500 k a month after mortgage, taxes, insurance, vacancy, maintenance, etc.  I'm flipping homes for capital and then putting all back into cash flow.  Right now on the mls is a 7 unit property for 239k getting 3950 a month in rent each month. These kind of deals are all over here.  

There is an owner finance TREC form that is used along with the residential 1-4 contract.  If you are licensed, consult your broker on how to fill this out.  There is not a standard but from my experience the terms are generally 10% down, 10% and either a 3-5 year balloon or they do the full 30 years.  The owner finance addendum will outline those terms and whether or not the buyer can refinance on their own.  This is good because investors like to put 10% down as opposed to typical commercial loans and use it as a rental property.  They can hold onto it or refinance at some point.  There is also a strategy where they have a vacant property and then they offer owner finance, which a lot of non investor people look for, season the loan for a few months and then sell the note.  It work well here in San Antonio

san antonio!!! We are  Cheap and have inventory. There were always be a rental market here. Austin is overpriced you'll barely break even if you're lucky

I bought my 1st house using a 203k loan and the above poster is correct.  You have to jump through a lot of paperwork and hoops but it was well worth our 1st investment