BRRRR in San Antonio

[Brian Batista]

Hi Everyone,

New investor here, thinking about starting my real estate journey in San Antonio. I currently live in the Bay Area and want to connect with an agent from the area to try and find a deal!

If anybody has any input they want to share about the market with respect to BRRRRs, I would love to hear it! 

[Andrew Postell]

@Brian Batista thanks for posting.  Always great to hear from people interested in Texas.  

San Antonio is one of those markets that we know about here in Texas but people outside of Texas may not think about that much.  San Antonio ranks as the eighth safest large city in the United States and is the most affordable major city center in the state of Texas. With a cost of living that is 14% less than the national average, living in San Antonio is an affordable option for those on the hunt for a new place to live. Compared to other big cities in Texas, San Antonio also proves to be more affordable than living in Austin or living in Dallas (where I am). In order to live comfortably, residents only need to be making an average salary of just over $46,000. Plus, due to Texas not having a state income tax, residents are able to save even more money. Not to mention, housing prices are lower in San Antonio as well which makes finding an investment property a lot easier.

A couple of things that help us be really successful in the San Antonio market - 3BR, 2BA homes.  Garages are nice but not a requirement for a good rental.  A carport does just fine here but again, not a requirement. Do not exceed a $250,000 value.  I mean...you can do what you want I guess, but all the numbers show that $250k and lower make the best rental properties.  That's a home for your normal, hard working, blue collar family.

Finding properties that fit the BRRRR method usually come from "Off Market" properties. The market is changing....so maybe finding something from the MLS might be possible in the future...but I doubt it. Got to go off market in just about every scenario.

@Robert Finn is a realtor in that area who works with a bunch of investors.  @Betty Cruz is a great person to know and so is @Manaia Alalamua and @Will Pritchett.  

Anyway, hope some of this helps!