All Forum Posts by: Aaron Bihl

@Ryan Mainwaring I haven't been there in a while.  I ran the nationwide marathon a few years back but everytime I'm there it changes quite a bit.  I had a cancer as a kid and was up there a lot (from portsmouth) and then all growing up was there at least once a year.  And then more recently my niece had leukemia so my brother and sister in law were spending a ton of time there.  That hospital has a special place in my heart, and it's nice to see places around it getting nicer. 

Texas is great!  San Antonio is a really great city and not a bad place to invest either.  

I spent a lot of time in that hospital growing up, it's cool to see things improving around there.  The house looks great!

@Jacob Segundo it really just depends on what you want to do.  If your focus is retail I think a keller williams or someone may be great for you but also their splits aren't great.  I would also be interested in knowing what leads are provided (especially if you are with a brokerage with a traditional split system).   There are a lot of flat fee/transaction fee brokers as well, which if you have enough leads/business on your own I think that's a great option. 

If you are looking to get more into investing and I would find a broker who does what you are doing.  Everyone agent and broker these days seems to claim they are investor friendly but if they aren't personally doing deals in some capacity I wouldn't go for that.  I don't know @Collin Corrington, but I do know that they actually do alot of deals.  Those are the things I would look for when finding a broker if I want to learn about investing. 

In my personal experience I worked both on the retail side and with wholesaling, wholetaling, etc, and thankfully found a really really solid group at Somos Real Estate.  I was there under a year before going out on my own but I learned a ton and wouldn't trade that for anything.  Now, I mainly have my license to list my own properties and have mls access, so I'm with a broker that charged 150/month and no splits or transaction fees and I love it.  The best fit is going to depend on your situation and what you're looking for.

A lot of folks like the NE side for rentals.  Along the lines of what Collin mentioned I would just make sure you know what you are getting. Even in that small area the neighborhoods can differ quite a bit and a deal in sunrise or the glen can look really good on paper but I wouldn't touch it.

@Chad Oustalet I think getting your license depends on what your plan is. I mainly source my own deals/wholesale and I think it's great to have a license because I get access to the MLS and can list all of my properties for free which is a great perk.

I originally got my license thinking I would do more retail real estate or work with investors, which i've done but didn't enjoy it much.  Investors who know what they are looking for and are willing to actually buy are great.  In general I just don't enjoy retail and I thought I may.  Something about juggling 4-6 different personalities/egos (listing agent, buyers agent, buyers, sellers, and then you can even through in appraisers and lenders) throughout a 30-45 day process to make 3-5k doesn't do much for me.  And the both unfortunate and fortunate part of it depending on your market is that a 100k transaction and a 400k transaction are the same amount of work.  

Just my two cents.

@John Lyszczyk I think it probably depends on the deal.  I've used hardmoney for everything thus but in most all scenarios even with a few points and 12% interest it makes more sense to do that than to split the deal.  

I think it also depends on the amount and the nature of the deal.  At higher pricepoints I'd be more interested in a partnership or equity split cause those interest payments, and points add up quick on more expensive/lengthy projects.

@Haley Dahlgard but full disclosure, if I were an out of state investor I would be much more interested in Midwest markets that have lower price points and better cash flow.  I love San Antonio but I don’t know that it would be at the top of my list if it wasn’t in my back yard 

@Haley Dahlgard no clue on taxes, it seems when properties change hands that’s used to increase the value.  The tax assessors office looks at the outside of the house and determines it’s appraised value (or at least that’s what they say their process is). 

Appraisals and MLS data are private and they aren't supposed to use that since we are in a non disclosure.

The appraisal district will send out a sneaky letter asking what you paid for the house but you don’t have to disclose it. 

And @Stone Saathoff low/no money down and BRRRR absolutely go together. That's where hard money and private money come in, a "cash sale" often isn't cash. And there are lenders in SA that will lend 100% loan to cost if the deal is good enough making it an ideal scenario to invest with little out of pocket and then refi out of it, hopefully with equity and some cash back.

@Haley Dahlgard I think you are definitely right to be concerned with our property taxes in SA.  I live here, invest here, and absolutely love the city but property taxes make it difficult.  And the tough part is they are unpredictable.  I have a house i'm about to dump 85k in to renovate and somehow with no changes last year the appraised value went up 16% and there is so my junk outside this house it's going to take 5-6 dumpsters.  Another one I own went up 60% this year.  The only thing you can do is protest your taxes each year.

Also, light BRRRR deals are hard to come by here. And investing out of state is hard. I recently got a call about a house an out of state investor bought and they have been paying a hard money note for almost a year and with a few bad contractors they are 200k or so into a remodel that still needs over 100k in work that has an arv in the low 300s.

Regardless  of where you choose, find some reputable and reliable people and you're going to have to babysit your projects even if you live far away.  I would suggest being as hands on as possible for the first few until you have systems and place and folks you can rely on.

@Account Closed  - Depending on the house and your budget I would go one of two options.  1.  Get a good retail agent (I can give you a few suggestions). 
2.  Go with a flat fee listing service. Lots of folks will do this for 1% or 1500 or something like that.  There are also services that I believe charge per day on the market. 

- Generally in San Antonio, if properties are prices right they sell.  Especially in the sub 200k price point.  If you get into higher price points that's where staging, having a good agent, etc really matter.