All Forum Posts by: Brett Merrell

I have been looking at new builds of duplex and fourplex properties in San Antonio and I am surprised by how low the prices are ($225k-$250k/door) and the rates being funded by sellers/builders (3.5%-$.25%). I live in Utah (where everything is high) and I am surprised by these SA prices/rates...why are they so low? The law of Supply/Demand suggests that San Antonio is overbuilt. Is this what is driving this? Other factors involved?

Can someone shed some "truth" on this? I like the prices and rates, but I am very hesitant to move forward if there is a huge inventory of homes and high vacancies.

2 Votes

San Antonio, Texas

Aristotle, Thank you for the insight on the West side of SA!

Brett

0 Votes

San Antonio, Texas

I am looking at buying relatively new (2020+) multifamily (duplex/fourplex) in San Antonio. I don't know the market well. Can you give me insights into the following questions:

1) What areas are growing in SA? What area would be best for investing in duplex/fourplex properties?

2) Is SA overbuilt? Has the market absorbed the '23-'24 new construction?

3) What is the vacancy in SA? I see a wide variety of data re SA vacancies. Some say SA has one of the highest vacancy rates in the U.S., others say SA is 6-7% vacancy?

4) How do duplex/fourplex compare to apartments in SA? Do they generate higher rent rates than apartments?

5) Any multifamily builders you suggest in SA...any to avoid? One of the factors that draws me to SA is that many builders offer financing of 3.5-4.0% The rates are great but I also want to get a well built property

Thank you for your input.

1 Vote

San Antonio, Texas

Thank you Andy. I am not investing with GoodEgg!

0 Votes

Quote from @Aj Joshi:

@Steven Rosenfeld , I am in the same shoe now as you were 10 months ago!

I am considering Goodegg investment too. Did you end up going with them?

Any thoughts you would like to share?

Appreciate any updates regards to this Syndication or any other that you liked? Thanks!

AJ, did you ever invest with GoodEgg? If so, how has the investment worked out for you? What has GoodEgg been like to work with?

0 Votes

Quote from @Jason Merchey:

My belief is that Praxis is the gold-standard. I don't think anything is 100% sure, and all the documents all the syndicators have you sign will melt your face off. But if you're willing to take a tiny leap of faith, I think the returns are solid, the diligence and the integrity are there, and the states/markets/submarkets and the asset class are thumbs-up. I can't think of a better syndicator to invest with, frankly. If you read Brian's informative book, you will learn that he finds integrity to be #1. That plus his willingness to communicate with anyone who asks him questions and his team are very praiseworthy. All systems are "go" for me re: Praxis MF F 6, so here goes! I put the odds at 97% an investor does very well, 2% that through no fault of Praxis' the housing market and/or the economy enter a tail-spin due to inept political leadership at the highest levels, and 1% that Brian is the biggest fraud ever to fool me.

I say that mostly tongue-in-cheek. I just mean to say that I don't think there is anything wrong with their business plan, their operational expertise, and so on, so unless something melts the economy down, it seems as though Brian integrity of the operators is the only remaining variable. And considering I think a person who puts in plain black and white that integrity and character of the operator are key -- and then does something underhanded and incompetent is just mind-boggling to consider -- so I'm only left with a negative feeling about the documents these darned attorneys dream up!

Perhaps this post is kind of droll. I am a writer, at bottom. I'm happy to answer any messages anyone has if any of this is unclear. I am definitely not casting aspersions on Brian's character, or Praxis! I'm psyched to put a significant amount of my net worth on the line, in fact.

Jason, Did you make investments with Praxis Capital? If so, how have they gone? What ws your experience working with Praxis?

0 Votes

Quote from @Louis M Cocce Jr:

Hello

I am interested in passive investment through a syndicator. I am new to this and have been reading and researching.

I have a meeting set up with Praxis Capital.

Has anyone invested with Praxis Capital and if so just wondering about your experience.

Thank you

Louis, did you ever invest with Praxis Capital? If so, how has that investment paid out and how was Praxis to work with?

0 Votes

Thank you Amanda for your input. I believe that finding good people you trust is a key part of findings by a good syndication partner.

0 Votes

Indianapolis, Indiana

All Forum Posts by: Brett Merrell

Brett Merrell has started 9 posts and replied 32 times.

Post: San Antonio Rates & Prices--Why so low??

Post: San Antonio Rates & Prices--Why so low??

Post: San Antonio Rates & Prices--Why so low??

Post: A couple of questions on the San Antonio market

Post: A couple of questions on the San Antonio market

Post: What do you think of syndicate sponsor Goodegg Investments?

Post: What do you think of syndicate sponsor Goodegg Investments?

Post: Anyone have experience working with Praxis Capitol

Post: Passive investing with a syndicator

Post: Experience with Gray Capital Syndications? Solana Apartment Info?