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Updated over 2 years ago on . Most recent reply

Account Closed
  • Investor
  • San Francisco, CA
41
Votes |
36
Posts

BRRR in Houston or San Antonio with 150k?

Account Closed
  • Investor
  • San Francisco, CA
Posted

Hello,

I made a post similar to this a while back (https://www.biggerpockets.com/...) and realized I casted too wide of a net, so let's try this again.

My name is Jason and I'm a new real estate investor. My strategy is to purchase under market SFH or MFHs that requires light rehab + 1 major thing to rehab. I'm focused on cash flow as I want this to replace my full time job, but appreciation is always nice. I only plan on acquiring one property this year.

After researching different markets, I've landed on Texas. Specifically, the Houston MSA or the San Antonio MSA.

My current situation is that I'm unemployed, but have 150k in cash to invest in real estate. If I can't do an all cash purchase, I would need a DSCR loan.

So, what can 150k get me in either San Antonio or Houston? Can I purchase a MFH in a B-C class neighborhood or is it only enough for a down payment? Is it realistic to target MFH or should I stick to SFH? I would also be open to getting a hard money loan for rehabs.

I will be investing from out of state, specifically San Francisco. When I decide on a market, I plan to fly out and scope out the area for myself and talk with an agent/property manager in person to start building out my team.

I also considered Austin and Dallas, but the Price to Rent ratio looked better in San Antonio and Houston. I'm open to hear a second opinion on that though.

Thank you




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