All Forum Posts by: Zachery Buffin

@Devin Johnson

PM me, I live/work overseas and have access to capital. 

@Anthony Green-Parker

Hey, welcome. I am new to San Antonio Real Estate myself. I actually just offered on my first property in the area so looking forward to reporting back on how it went to everyone here. I have had some experience as an agent in the past (Tennessee not Texas) but haven't been an agent in a few years. That being said if you have any questions I know the basics pretty well and if I don't know I can usually figure out who to ask. 

Wish you the best of luck!

@Stephen Gay @Paul K.

Hey gents, I have been looking in the same area and have found some things I like a lot, I just offered on a house today in fact. The biggest thing I would do to get started is to narrow down what you are looking for and define your criteria. If you are looking at everything you will never find anything. 

Decide your niche and then go out and look for it. Are you looking for duplexes? Something close to city core? Next to base? Who do you want to rent to? When you start to answer these questions you can then begin to refine your searches and see the prices things are going for.

For example, I like 3/2 SFRs with at least 1100 sq/ft, I like them to be relatively close to Lackland and I love the terrible paint jobs that lower the value. Paint is cheap, easy to do, and increases value disproportionately to cost. That being said the market is hot everywhere these days and you likely will have trouble finding deep value without being willing to take on a big project. 

I have also noticed that sellers are impatient and things move quickly. If they don't get the offers they want they relist the property for more money. Not everyone does this but it has happened a few times. Don't be afraid to offer what makes sense for you and miss a bad deal, don't get FOMO, don't pay more for a deal than it is worth. 

TL:DR

Decide your niche, define your criteria, hop on anything quickly BUT be smart don't overpay!

Personally I have been seeing them go not only higher than list but also cash deals. The market is so hot right now and there is institutional money all over Austin and the suburbs right now, especially with that Giga factory coming in. I have stopped looking really, but in answer to your question about where to buy in that budget I would say cedar creek has some new construction builds that you could likely get into at that price range. 

@Nicole Heasley Beitenman Good advice! 203K is a good option in the right circumstances but be warned the red tape on these can be the cause of a lost deal in no time flat. There is a lot of research you should do and if you are going this route I would be very upfront with everyone that this process can take twice or three times the normal closing time. 

As long as everyone is aware and that no one is in a rushed position the 203K would be great, make sure to have the approved contractor around from as early in the process as possible too. If you lose time in the closing you may be able to make it up in the rehab if the contractor can start getting an idea of materials and scope of work.

Good luck! Let us all know how your first project goes.

 Not knowing how these arguments are being structured currently I might offer showing her the math. Show her that you can both retire in your 30's if you start at 21. Show her that the planning you are already doing for the future and family you plan to have with her is to provide the best life no matter what happens. Explain that for a little struggle today you can have the world tomorrow. 

Maybe sit her down and watch a few of Brandon's videos on Youtube or this site if you can access them. Show her something concrete as well, actually have a property that you are thinking of to show her so the example isn't abstracted. You could make it a couple activity as well, you could go driving for dollars together. You might also appeal to her desires individually, maybe she loves decorating the houses, or maybe she has a dream vacation, or whatever else; whatever it is let her take over that part of the business or promise after the investment is made you can enjoy the reward.

If you are a buy and hold reserve some of the cashflow as a reward for you both to enjoy, explain that you can enjoy more of life if you invest than if you don't. That's all I can think of, I really hope this is the beginning of your journey together not the end of your journey alone. 

 Hey Daniel,

     I am totally willing to take one on, as I said if they can get approval through their network I will gladly bring them in on the deal. I just haven't found any one that is both advanced enough to do that and willing to work on the project. More because they are to the point in their careers where they don't touch anything under a million or more than anything to do with the deal itself. It is just a little harder for me to meet people face to face as I am currently overseas, a lot of people don't like to operate remotely (completely understandably) with folks they have never met. 

    As to the leaseback and creative financing options. I am also open to those and have proposed them in emails sent to the broker representing the owner but haven't received any replies from them. I obviously don't want to start cutting people out when they are working on the deal but I have begun doing the research to find the owner's contact info so I can try to talk to them directly. I feel like the broker is doing them a disservice by not responding to me and I am really trying to find a way to get this deal done. 

I won't tell you want to do or what not to do, but I wouldn't do it. The price point is enticing but if you track the national internal migratory patterns of the US you will see that people are moving out of not into those cities. Moreover when you look at state and city regulations, taxes, land lording laws and the over all (not picking sides but blue states are statistically speaking harder to operate in) democratic areas which means that the tax burden on the investor will only increase over time. 

If I were you, I don't know your individual situation, I would look at the top appreciating cities over the last 10 years, I would look at what cities have the largest populations of renters. Ask yourself why someone would rent and pick your problems. By that I mean target your renter base. You shooting high, median or low? There are a lot of questions to ask to determine the market you want to take advantage of as an out of state investor.  

     Thanks for the reply, I agree that is what I need. I should have been more specific in my question, what I am really asking for is the references, if anyone here happens to know a company like this, have their contact info, a review of the process and what the company was like, etc. Again thanks for taking the time to reply and if you know anyone that could help I was very much appreciate a PM or response here!

 Hey, 

     Thanks I will definitely reach out, I appreciate the help!