All Forum Posts by: Andrew K.

@Matt Walz, as @Beau Fannon said you gotta meet people.  To that end, check out this thread about San Antonio: https://www.biggerpockets.com/forums/12/topics/712481-who-is-investing-in-san-antonio-tx

You'll find a bunch of other local users and info about recurring meetups.

I also work on Lackland, maybe we can meetup for lunch sometime and talk shop. Feel free to message me directly.

Best of luck!

-Andrew

@Alex Smith you’ll get replies from people on either side of this argument. However, I think you should take a close look at the opportunity costs of your options. Is your time best served swinging hammers? Or looking for and analyzing the next deal?

I used a blended approach on my last property. Tackled the DIY projects I was comfortable with and hired out the rest to a GC. Working on the place myself also gave me the additional benefit knowing the neighborhood well, meeting the neighbors, mailman, etc.

Work on what you can, hire out the rest with the intent of cash flowing the place as soon as you can.

Best of luck.

-Andrew

@Mike McKinzie I’ve got a recommendation for you (and one to RUN from!).

@Colin Smith is my go to guy in the Springs. His outfit is professional, communicates well, and is extremely responsive to owners & tenants. I highly recommend his services.

Send me a message for details on who to avoid.

Best of luck!

-Andrew

@Eric Dame I’m sure others will pile on, but wanted to offer a suggestion. Call nearby parks and ask what they charge for lot rent (and park owned homes). You’ll get an idea of the market rate and may discover another MHP lead in the process.

I’m still looking for my first park, so take my advice with a grain of salt. Best of luck and keep us posted!

-Andrew

@Joshua Enriquez, I drove through some of those areas yesterday and was amazed at the amount of investor activity! It seemed as though every 3rd house was in some phase of repair, really amazing to see. Those areas will look drastically different over the next few years. 

 I'd love to get in on the action in that area, although I'm sure the property owners are receiving multiple offers from investors already operating in the area. 

Still super cool to see the area turn around.

-Andrew

@Alissa Evans, welcome to BP!

I think the idea of purchasing a home for your parents, and as an investment, is an excellent idea.  In fact, I'm on the same track! I'm looking for something for my mom--similarly she doesn't want/need much and a clean, safe place is more than enough for her.

Back to your question, consider the difference in property taxes for homes inside Bexar county and out.  A key factor towards cash-flow and affordability.  A number of my co-workers live in the Shertz, Cibolo, and Selma for that reason--which you honed in on.  

Lots of growth and revitalization in that area as well.  Not that you're focused on appreciation, but I'm sure you'll see some over your hold period.

Also, the neighborhood between Toepperwein Rd and Live Oak's Main City Park seems to be a good spot to look.  Decent homes with inventory old enough that they'll need some updating. The City Park is very nice and the area has good access to shopping, hospitals, the AFB, and the new Ikea.  

Best of luck and please keep us posted on your search!

-Andrew

@Chris Martin, I haven't settled on a lender yet. So far the out of state aspect hasn't been an issue for me, then again I own two properties in the FAY area and have lived there the majority of my career (just moved to TX last summer). I think that I can display "intention" of returning to the area at some point. 

 I'm still in the early stages of talking with a couple lenders, seems positive so far. Then again, things can change--as you pointed out.  I'll be sure to report back on how things turn out!

Thanks!

-Andrew

@Jinwon H., also check out Comfort First. They've provided HVAC service & repairs for my properties in the past. Prompt and good customer service.  

 Not sure if your HVAC is a combined A/C & heat pump (typical for the area), so the $5k amount may be in the ballpark.  I replaced a unit for about that price, however it was somewhat special ordered due to size constraints and difficult install.

Also, have you checked out BP's new contractor tool?  Might be worth a look: https://www.biggerpockets.com/contractors

Best of luck and please keep us posted!

-Andrew

Hi @Ananda Wasan!  Your post is very similar to another one I just saw here: https://www.biggerpockets.com/forums/517/topics/68...

Another investor is looking to build her team and seems to be interested in the same areas. Might be good to pile on!

Best of luck!

-Andrew

@Courtney Kimbrough good luck finding a lender for this property. If nothing else, your search will be informative and may result in relationships with those banks you can leverage in the future.

Consider asking to roll the rehab budget into the total amount you're asking for.  This seems to be a strategy that some investors are following, I'll defer to @Alexander Felice for his insight on the process.  He's written a great article on how he uses this very strategy.

Best of luck and be sure to keep us posted on your progress.

-Andrew