Podcast made me do it!

[Mike Smith]

Hello, my name is Mike and while I have been a wall flower on Bigger Pockets I have been sitting in the background reading and learning.  While listening to a Podcast today one of the quick tips was 'Hey introduce yourself'. So here I am.  I live in the Washington Metro Area in Northern Virginia with my family.  Currently we have one rental property that I have been managing the last 11 years and we have had 4 different tenants during that time.  I am determined to get at least to our next property by the end of this year if not more. I am interested in maybe a flip in this area or a buy and hold in the San Antonio area either single family or multi-family.  Thanks for reading!

[Sterling Williams]

Originally posted by @Anthony Finger:

@Sterling Williams, I have been told by a couple real estate agents that investing in multi families in San Antonio is next to impossible due to low availability. What is your take on it? It seems like a great option to me since the cash flow can potentially be greater. 

Thanks in advance for your insight!

 Anthony,

I would beg to differ… Multifamily properties are a very popular asset class for buyers within San Antonio and Nationwide, so inventory has been in short supply making for a competitive buyers’ market. With that being said, buyers just need to be on their toes and have their ducks in a row to be competitive. San Antonio has a multitude of submarkets that serve investors looking for turnkey buy and hold, Value-add with a 5-7 year exit strategy or a quick fix and flip etc. The issue is that buyers and agents aren’t quick enough to capitalize on deals when they come available. When a good deal presents itself, it doesn’t get sold in day’s it’s sold in hours. Does that mean that there are no deals to be had? No! It’s just an indication that the investor needs to fortify his team and make sure they are quick to act when that opportunity does present itself. Start building your trusted team (wholesalers, agents, lenders, personal contacts etc.). The deals are to be had, the question is whether or not the investor is prepared to act when the opportunity comes available? This is not a market where you can sit and wait for a deal to present itself and analyze for a few days and make an offer. You need to start analyzing anything and everything, so when the time comes, you know it’s a deal and you can pull the trigger immediately. There’s a good number of us local BP members who you can reach out to if you have any additional questions. My advice would be to schedule a call or meeting and see if your goals are in line with their services. I wish you the best and I assure you that you can still find some great opportunities. Good luck!