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Updated almost 7 years ago, 01/26/2018
Greetings from Del Rio, TX!
Good evening everyone,
My name is Gabriel (Gabe) Lazurka and I currently live in Del Rio, TX. I originally hail from the thumb area of Michigan but my career in the Air Force took me first to Charleston, SC and now to Del Rio.
I first became interested in investing in real estate back in 2009 after reading everyone's favorite, "Rich Dad, Poor Dad". While stationed in Charleston, we became "accidental landlords" when we moved out of our primary residence and decided to rent it out rather than sell it. To date, that is the only rental property that we have but we've decided that moving forward we want to start growing our portfolio with the goal of supplementing our income, growing a business and eventually, obtaining financial freedom. In other words, we are in it for the long haul.
My goal is to replace at least half of my military income so I have the option of separating and investing full-time in March of 2020. I want to start small by BRRRRing 1 SFR in 2018 and continue building a financial runway (thank you, Scott Trench). This would be my first true investment property but I'm hoping to learn a lot so I can develop my own systems and processes to apply to future deals. My options in Del Rio are very limited so I'll be looking to buy in the San Antonio area (2.5-3 hours away). If there is anyone in the Del Rio area who would live to sit down and chat about real estate, please let me know. While my wife is onboard, her eyes tend to glaze over when I start talking about ROI and Cash-on-Cash Returns. I really don't get it.
I'm thankful that a community like BiggerPockets exists and I look forward to connecting with you all in the future.
Happy New Year! I hope everyone reaches their goals in 2018.
Hi Gabe,
We're in Uvalde, which is 40 minutes east of you. Looks like we have similar goals.
When my wife and I were first looking for houses to invest in, we had the same idea; go to SA because it's a bigger market and the market is on fire there. We spent hours and gas driving and looking at houses. We got beat out by seasoned investors. So I decided to shift strategies and gain my experience locally in my much smaller market. What I found is it's much easier for us, because we realized how much we had to visit the house as newbies, due to contractors, etc. Also, I know the local market better. I'm also a full time employee for the government so that was another factor.
Del Rio is twice the size as Uvalde. You may be able to find some gems. Don't under estimate the power of driving for dollars. It really works.
If you ever make your way east, look me up.
I know there are some folks from Del Rio and Uvalde on here. Maybe do a search for them. There are plenty of groups, meetups and BIG groups that meet every week here in San Antonio.
I have to tell you that getting cash flow of 3k to 4k or more per month is pretty much a full time job if you want it done by 2020. It is not impossible, but you have to work at it like a crack addict. It also depends on how much money that you can direct towards your real estate investing.
If you need anything give me a call.
Phillip, it certainly does sound like we have similar goals and past experiences. Thanks for passing along your experience in San Antonio. Have you been able to successfully rehab a property in your local area yet? With your local area being so small, I'm curious to hear what kind of challenges you ran into i.e. availability of good contractors, ability to resell and make a profit, or anything else you can think of.
Rick, thanks for your input as well. I want to make it out to SA at some point for a meeting. I know $3-4K is a pretty lofty goal but to be honest, if I'm able to get some small wins, learn, and develop some systems and processes in the meantime, that would be good enough for me. Thanks for reaching out!
Hey @Rick Pozos! We've been meaning to make it to your meeting again. It's been crazy busy.
Gabe, connect with Rick; I love reading his posts, he always has practical information.
So we flipped our Sabinal house and did really well. Being in a small town, you are able to brand yourself fast. We are currently in contract with a house in Uvalde in a really good area. There's a lot of challenges we had to overcome, but it's worth it because it's a killer deal. I have an appointment to look at another house next week. Potentially, it can be another killer deal. I have to say, we must have looked at over 100 houses in the last 3 months and I'm sure I passed up some good deals, but I'm sticking to my criteria. As I gain experience, I will broaden my criteria.
Like everyone says on the podcasts, take action.
Phillip, are you doing most of the work yourselves are utilizing contractors? Finding a good contractor is one of my main concerns. In all of the books I've read and podcasts I've listened to, the challenge of finding a dependable contractor seems to be a common theme. Any tips with us being in such small areas? Have you worked with anyone who does good work? Good luck on your next deal!
Good morning Gabe.
Del Rio is a great market, there are few young active investors. We own multiple duplexes in Del Rio, some were remodels, another was new construction, where we managed the construction. My advice as an investor focus on your investment strategy, Will you rehab, flip, buy and hold etc.? Make sure you know your WHY and don't deviate from your goal.
Regarding finding local contractors, there are plenty of trade subcontractors. In Texas, electrical, plumbing, HVAC are licensed by the state and carry general liability insurance in order to mainatain their license. I would reach out and meet the city building inspectors and ask specific questions regarding whose work they inspect that result in minor or no isssues. Eventhough city inspectors can not endorse specific subs you will obtain valuable feedback.
If you are looking for a handyman, there are also plenty. If you build a working relationship with subs or handymen and treat them with respect you are ensured success. Most of the fears or nightmares described in podcasts or books are just a description of their experience not doing their fue dillegence.
On a final thought feel free to reach out, I enjoy a Venti soy milk latte.
Originally posted by @Gabe Lazurka:
Phillip, are you doing most of the work yourselves are utilizing contractors? Finding a good contractor is one of my main concerns. In all of the books I've read and podcasts I've listened to, the challenge of finding a dependable contractor seems to be a common theme. Any tips with us being in such small areas? Have you worked with anyone who does good work? Good luck on your next deal!
Hey Gabe,
Sorry for the late reply. I do the project managing myself. It is a challenge and you will have to stay on top of your contractors. Never ever ever pay more than the work done. I already got burned even after hearing that same advice from experienced inverters and advice on the podcasts. You will have contractors beg you with all sorts of sob stories. No advances should be stressed in the beginning. Do weekly or biweekly draws as long as the work is progressing.
Don't learn the hard way like me.