All Forum Posts by: Aaron Bihl

@Rylan Rock

I’m not opposed to, if I can cashflow it and wait for this part of town to get the action that other sides near downtown have I think it will be good. I love that it’s right by lonestar and on the other side of the highway would have cost twice as much. 

@Tamara Deering I did after it happened lol.  I bought a system from abode, it’s like simplisafe but cheaper and their monitoring includes 3G if WiFi goes out. Of course I’ve had no issues since 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $90,000

Another Airbnb on the SW side of San Antonio.

What made you interested in investing in this type of deal?

The area and a goal to pick up another rental.

How did you find this deal and how did you negotiate it?

MLS - I gave away my commission.

How did you finance this deal?

Conventionalish. I used host financial.

What was the outcome?

Several months later it is finally listed, I expect it to do pretty well as a budget airbnb. I hope to gross 2k a month as an STR

Lessons learned? Challenges?

I bought this in July and it's been a bit of a nightmare. I had it completely furnished and was robbed the first week of owning it and they took everything, even my paper towels and thermostat off the wall. Even a sweaty branded Somos work shirt I had left on the flor. I've had to rip out the wall and replace some of the plumbing around the shower, my HVAC has broken, a few little cosmetic fixes took longer than they should. I've had some issues with insurance.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $90,000

Another Airbnb on the SW side of San Antonio.

What made you interested in investing in this type of deal?

The area and a goal to pick up another rental.

How did you find this deal and how did you negotiate it?

MLS - I gave away my commission.

How did you finance this deal?

Conventionalish. I used host financial.

Lessons learned? Challenges?

I bought this in July and it's been a bit of a nightmare. I had it completely furnished and was robbed the first week of owning it and they took everything, even my paper towels and thermostat off the wall. Even a sweaty branded Somos work shirt I had left on the floor. I've had to rip out the wall and replace some of the plumbing around the shower, my HVAC has broken, a few little cosmetic fixes took longer than they should. I've had some issues with insurance.

Several months later it'

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $90,000

Another Airbnb on the SW side of San Antonio. I bought this in July and it's been a bit of a nightmare. I had it completely furnished and was robbed the first week of owning it and they took everything, even my paper towels and thermostat off the wall. Even a sweaty branded Somos work shirt I had left on the floor. I've had to rip out the wall and replace some of the plumbing around the shower, my HVAC has broken, a few little cosmetic fixes took longer than they should. I've had some issues with insurance.

Several months later it's finally ready to go. This part of town hasn't progressed quite as much as some neighboring areas but I think it's coming and love the proximity to downtown and the lonestar district at a super affordable price point.

What made you interested in investing in this type of deal?

The area and a goal to pick up another rental.

How did you find this deal and how did you negotiate it?

MLS - I gave away my commission.

How did you finance this deal?

Conventionalish. I used host financial.

@Michael Nevarez  I think your biggest issue is the price, even with the drop it seems too high.  It's priced like its on the other side of new braunfels and its not.  Also, it doesn't help that there is a new build right by it that is the same price and also not selling.  And the rehab is a bit bland, it almost looks like it was fixed up to be a rental. 

All in all, if it's priced right it will sell. I think it's probably a matter of making sure you have a realistic ARV/sales price before the project started.

Hey Kelly, 

I have a handful of short term rentals and hopefully can point ya in the right direction. 

In order to see if there are short term rentals check out the one stop map (also the city has a list they publish),  there is a filter for STRs on the left side key.  

https://gis.sanantonio.gov/DSD/OneStop/Index.html

The permit process isn't bad but can be slow. My first one took less than a week, my most recent has taken over a month.  If you are doing less than 30 day rentals a permit is required if its more than 30 days it doesn't require a  permit.  Additionally, in order to get the second unit approved assuming that the density permits the unit, you will have to present to development services your case for a second unit. 

They will want you to prove ownership but if you start now you can send them the recorded deed showing you bought it once it closes.  They look at BCAD which can be rather delayed.  I bought a house in july and BCAD still doesn't show it. 

Furnishing is a pain point but gets a little better with each house i've gotten. 

@Jeanina Bandy Welcome to BP and to San Antonio.  I wouldn't necessarily recommend steering clear of older homes, they are definitely a bit of an acquired taste but I personally love them and own a few.  

I know it wasn't really given as an option but I would consider house hacking as well (either a duplex of a SFH with an inlaw suite). Let me know if there is anything I can help with along the way.

Hey @Richard Allen Eckhart Jr, 

Let me know if I can help ya out.  I live in and invest in SA.

@Whitney Breedlove with one car it’s not bad, it just doesn’t make much money.  I’ll probably keep one car that I didn’t buy cash and just keep Turoing it to pay it off.  

If you need a lockbox shoot me a message and I’ll send you one. I now have 3-4 I don’t need.  If I can help let me know 

@Whitney Breedlove. I think that is just Turo go (or something like that, that you are referencing).  As far as I know it hasn’t changed.  

I’ve since sold or am selling my cars and calling it quits with Turo.  It’s just not worth the hassle to me.