Investor · Tampa · Member since 2018 · 5 posts · 4 votes
Hello everyone! Excited to be part of the BP community and learn from all the experts as well as the new comers as I start my Real Estate journey. I am in the Air Force and currently stationed in Del Rio TX. I bought my first home here with plans to rent out after I leave. By biggest goal initially is to figure out what niche will serve me best. There are a ton of different real estate strategies out there and I am currently trying to navigate through them.
Del Rio Texas · Member since 2017 · 10 posts · 5 votes
8y
Hello, I will be moving to Del Rio soon and was hoping to learn a little bit about the market. I see lots a surplus of homes for sale, but very few quality rentals. Is this because most of the military is hesitant to buy and would prefer to rent? I am a little worried that there may not be much of an exit strategy if I were to buy a rental house in the area. Any info on the market would be greatly appreciated! Thank you!
Real Estate Investor · Del Rio, TX · Member since 2013 · 23 posts · 8 votes
8y
Welcome to Del Rio, focus on a plan first, make your first deal then you can worry about the rest. Many rush into forming an llc, company name, branding, overthinking a deal etc., welcome and here to help. Living in the border you are able to see the "rich dad, poor dad" philosophy first hand. Learn from the unique border perspective and wish you the best!
Investor · Tampa · Member since 2018 · 5 posts · 4 votes
8y
David,
Thank you for you guidance/perspective. I have read RDPD and I definitely agree with you on that aspect of living in the area. I'm not sure how many Del Rioans are on BP, but I would definitely like to pick your brain on your successes and failures of investing in the area if you have some time. I live in the reservation area and they are building homes left and right. My home is actually a new construction. I also see a lot of for sale signs in the area and they don't tend to stay like that for too long. Just my observation after living here for 1 year.
Del Rio Texas · Member since 2017 · 10 posts · 5 votes
8y
Hello, I will be moving to Del Rio soon and was hoping to learn a little bit about the market. I see lots a surplus of homes for sale, but very few quality rentals. Is this because most of the military is hesitant to buy and would prefer to rent? I am a little worried that there may not be much of an exit strategy if I were to buy a rental house in the area. Any info on the market would be greatly appreciated! Thank you!
Uvalde, TX · Member since 2016 · 141 posts · 45 votes
8y
@Delwyn Campo
Welcome!
You can make money in any market. Some markets may be harder than others, but make sure you understand your market, locations and run the numbers.
Best of luck!
Investor · Tampa · Member since 2018 · 5 posts · 4 votes
8y
Garrett/Phillip, I'm also a fellow Floridian from Orlando. Good to know we are not alone out here in west TX. Garrett, we actually bought out here because of the rental market. For what my family and I were looking for (4 bed/3 bath) we've would have been charged anywhere from $2K - $2.5K. That may be reasonable in some markets, but people don't make the income around here to afford that. For that kind of money we decided to custom build. So the quality is there. To answer your question, owners are price gouging renters. I'm only paying $1336 on my mortage vs the $2K plus I would be paying. Some ilitary folks are renting, but most are opting to buy and rent after they leave, like I plan to. On my block alone there are 5 military folks who all bought for the same reasons I did. I think if you priced the rent appropriately, you won't have a problem renting. Just my 2 cents from what I've seen so far after a year of living here.
Investor · Tampa · Member since 2018 · 5 posts · 4 votes
8y
Phillip, I see you have an LLC. That's the plan down the road after I make some deals. At what point did you start that process? Have you invested in any Del Rio properties thus far? I'm looking more into the SFR or MFR markets.
Uvalde, TX · Member since 2016 · 141 posts · 45 votes
8y
@Delwyn Campo
Here's the cool thing. As a military person (or a veteran) you can get an LLC free in TX. I was going to hold off on one until I found out about the program. PM me and I'll get you the details. There are some steps and paperwork involved, but it's pretty easy.
Real Estate Investor · Del Rio, TX · Member since 2013 · 23 posts · 8 votes
8y
Border child here, reach out ...have multiple investments in Del Rio. We should consider a meetup in the future. Here to help in anyway, enjoy the bigger pockets culture.
Del Rio Texas · Member since 2017 · 10 posts · 5 votes
8y
@David Valadez@Phillip Lanier and @Delwyn Campo thank you for the responses! Sorry it took so long for me to get back to you. I was in the process of moving to San Antonio. I will be here for about 5 months before heading to Del Rio. I am in the Air Force as well. This information is great. I would love to meet up with you all sometime in Del Rio if we can. I have been looking around the San Antonio market too, it seems quite saturated with investors though.
Being active duty HAS SO MANY benefits. While I don't live in TX, I am sure any local REI took help form your opinion on strategy. Below are some methods I have used in the past with success:
-VA loans (understand the second use, 2nd teir, and re-establishing eligibility)
-remember BAH is non-taxable income (gross up when speaking to lenders and ALWAYS purchase when you move)
-LLCs are great liability protection, but they are per state (plan on moving to another state?)
-who does your taxes? (find a great CPA or figure out on your own)
PM for any detailed advice. I am 16 years into this military/RE thing.
Hello, I'm new to BP and am interested in buying a single family home in the Del Rio area with the intention of renting it out when I leave. I'm an Air Force guy as well and would be interested in participating/forming a REIA if there was any other interested. Also looking if anyone had any agents they'd recommend in the area. Thanks!