Updated over 9 years ago on . Most recent reply
Looking for investor friendly agents in San Antonio
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I would agree with the above comments as most good investments are NOT hitting the MLS. The dynamic of San Antonio investor clubs has put a lot of bird dogs and wanna be's out there knocking on doors from foreclosure lists, sending direct mail, networking, etc.... all in the interest of catching the deal before it hits the open market.
However, there are excellent retail deals to be had for solid homes. You can buy that distressed property for $100,000 - put your 3 months of time and $25,000 into for an end value of $125,000 with a rental rate of $1,200.
OR - You could pounce.....I mean literally pounce.....to get on the good retail home being advertised at $130,000 - getting you the rent rate of $1,200 from day one.
My point being, do not discount the value of the open market on the MLS. Have an area, a price range, and an AGENT ready to go when they come up.
HERE IS ANOTHER GEM: Work with Property Management companies in the area looking for the package deal. The homeowner who wants to sell WITH the tenant already in place. The PM company can take a reduced commission, show you the exact lease and rent rate - and you can get into that for a good 5 to 10% decrease from full retail value.....WITH a tenant in place and documented numbers.
Good luck out there!