All Forum Posts by: Christopher Campbell

HECK YEA BRUDDAH!! @Grant W. Wilson

I'm big time BULLISH on Central Texas Real Estate for the next 5-10 years. Group the amount of people moving here every year on top of our organic population growth, the low housing inventory within the metros, and the room to expand outward from them and you've got solid room for valuations nearer the metros to rise as inventory needs time to stack up outside. See what's happening in areas like Dripping Springs recently and the expansion up/down the 35 Corridor between Austin and San Antonio. LOTS OF OPPORTUNITY!!!

Key things to look for:

(1) Experience - however much you deem acceptable

(2) References - contact the last 3 customers they did similar work for

(3) Compliance - be sure they're following local rules in regards to permitting/inspections

(4) Specialty - a lot of guys say they do it all. To me that's a red flag. Learn what they do best and what they'll need outside help with.

(5) Management - how do they plan and manage the execution of a project? Which parts of the job would they sub out and how do they manage that along with any permits that might be necessary for that trade work? What's in-house?

(6) Billing - how do they expect to be paid? What's their billing schedule? What is the Quality Assurance agreement? Is their a per diem agreement for past due steps in the project (outside of any crazy weather, health issues, or stop work orders)

These are just some basics. I'm sure there will be a fair amount of additional input, this is a good subject to follow.

I hope this helps!

Cheers!

Preach @Grant W. Wilson

Boss moves. 

Staggering figures for a market on fire! This follows up on April's strong figures in this regard as well but check this out!

Not only does MORE THAN HALF the houses listed as a Recent Rehab in Bexar County sell ABOVE their listed price in May, they did so by closing about $15,000 over what they were listed for on average in LESS THAN A MONTH'S TIME. On top of this it's no small feat that on average the concessions on these closings was only about $2400. The high sale price over list was 19.71%!!!!

If you are a home flipper looking for your next project and would like access to the largest flow of off-market deals in San Antonio, reach out to me to get added to my list of certified buyers.

Phone is the best, you can PM me your info, or if you'd like for me to reach out to you with more information about receiving these deals at a time that will work best for your schedule, click the link below to complete a VERY short questionnaire that will give me the best idea of how I can help you find the right deal.

https://lnkd.in/eFgsVKb

Chris Campbell
Licensed Realtor / Wholesaler || LREA: 732989
New Western Acquisitions
M: (737) 219-9132
E: [email protected]

CLICK HERE to see a recent video walkthrough of a deal I offered exclusively to my investors this week. This Off-Market deal is in a great area of town where there's almost no inventory available. The days on market for rehabbed properties here that are close to our square footage is 16 days on average. The big deal on this property is the massive value-add potential. There's square footage within the existing footprint that could easily become livable that would add a lot to the resale value. This house, on the back end of its renovation, should sell quickly and earn you a great profit!

This deal is just one of the 10-15 deals I bring my cash buyers every week. 

- Off-Market Deals 

- Single Family and Multi-Family (2-4 Units) - I also have an 11 Unit property available near Downtown San Antonio

- Vacant Lots and Commercial Deals

** COMPLETELY FREE to access this inventory!! I'll only get paid if I bring you the right deal.

 ** Full CMAs given with every property with picture links or a video walk through just like the one above!

** Full access to you and your teams in advance of contracting and putting any money down. No obligations whatsoever! Bring you contractors, your realtors, your property managers, your uncle, your dog.. whoever you need at the property to help analyze it!

 ** No commissions to me or my brokerage on top of the sales price!

 ** Nothing to lose and everything to gain!

____________________________________________________________________

Contact me directly if you need a deal today. I've got 2 available right now. You can reach me by phone/text at (737) 219-9132. 

If you'd like me to reach out to you at a time that fits your schedule, take a moment to complete that'll give me a better idea of how I can help you and that'll let me know the times that would be the best to get in touch with you!

If you have any questions or if you'd like more insight on the San Antonio Real Estate Market, please follow me on BiggerPockets and read some of the recent articles I've posted about the market and keep up with the market updates I post regularly. 

Connect with me on Facebook or email me directly at [email protected]

Talk to you soon!

Chris Campbell - Licensed Realtor/Wholesaler
M: (737) 219-9132
E: [email protected]
New Western Acquisitions - San Antonio, TX 

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Hey @John Nichols

I work strictly with investors here in town. This is going to come down to your own comfortability and criteria. I highly recommend getting out and exploring the areas that interest you. I'm a big proponent of doing your own homework so props for reaching out on this forum. 

As I'm sure you're aware, San Antonio is a big city and growing very fast. Naturally there are established areas that are a little nicer, typically a little cleaner, and from what I can tell appreciation wise aren't growing as fast as the up and coming, typically less clean areas. The areas in transition are the best areas to look which typically means you'll see some run down houses in the neighborhood, maybe some graffiti, maybe the area shows a higher than average crime rate at the time, etc etc. I'd study what's happened to the Inner East Side for the previous decade to see where it's come from and what it was on it's way to becoming what it is now. It still has room to grow but it's the perfect example. 

There's a give and a take in this business. You want lower prices, you may need to take on a heftier rehab or explore less established areas. But with this comes the potential for greater % appreciation and better cash flow. Greater risk = the potential for greater returns. 

If you're okay with paying higher prices you'll get opportunities in better areas in better conditions. These well established areas are nearer to the top of the market and won't appreciate as fast. Since there's a higher amount of competition for these deals you'll have to pay up which will squeeze margins in some cases completely. They're stable, less work is required, but what's your end game? Less risk = lower returns. (Unless you're going to hold for a lifetime)

What I'm getting at is what is the main goal here? Are you going to hold forever? Are you parking your money? Do you want cash flow? Are you wanting to buy something that could double in value or more in a 5 year window? Can you mix it up?

I think even more importantly than this, if you're relying solely on secondhand area review sites you won't learn nearly as much as getting out and driving the areas that interest you. From there, at your discretion, you'll have a lot more confidence in approaching deals since you'll get your own eyes on the area. 

There's a lot of gold in the "rougher" areas of town. I wouldn't completely shut them out. Just my personal opinion, speaking from experience. I'm interested to see what others say though.

Cheers!

@Zachary Perrin

Way to reach out on this forum for help. Kudos!

Being a newbie at any point in time will make getting started seem daunting especially in a business like this with many moving parts. You have to line up financing, make sure your teams are ready, find the right deal, manage the progress and completion of the project, get the property up on the market, and then get it sold/closed/funded and accounted for. It's a lot to manage no matter what the market conditions are. After a few repetitions you get the hang of it and hopefully do better with each project. 

Without knowing what you'd consider to be a "smaller amount of capital" I can't speculate too much on your readiness to get started. But I would definitely take a closer look at the market to see how people are finding success here. The seller's market doesn't help when acquiring distressed properties but it helps A TON when you're selling freshly rehabbed homes. Out of the 216 homes that closed last month listed as a "Recent Rehab" across Bexar County, 110 of them sold ABOVE their listed price by an average overage of 3.64% in an average of 21 days on market. This market isn't red hot for no reason at all. It's hard to see why it would be a bad time to start flipping when the market is as hot as this. 

We've been at double digit YOY increases in our pricing metrics pretty much all year. We're appreciating very rapidly. It's looking like an almost 4% increase in the city's average sale price just from March to April. It's mostly a simple supply/demand imbalance and the fact that we're in a very desirable place to live which is attracting so many new residents. Put this all together with low interest rates and a big local stimulus package and it's pretty hard to anticipate a crash, at least for the near term. 

If you sit on the sideline, keep the capital you have sitting (every day losing more purchasing power due to inflation), the market continues to appreciate, and then what some anticipate to be a crash comes, how far does it drop? Does it come down to a level that will work for you at your current capital amount? What if it doesn't come for a few years? What if the market sees more of a stall like a plateau before rising again? Is it more speculative to hope/wait for a crash to get started or to play the game as it is now? 

This past month I closed a deal with a newer investor (not totally new, but newer) who is working with a hard money lender I have a good relationship with that came to the table with below $20k to close. Lenders will typically want to see proof of double that in the bank to qualify (among other things - you'd have to talk to them specifically). The point that I'm making is that the capital requirements may not be as high as you might think. It's a big market and much of it has very affordable housing options. 

I hope this provides some good perspective.

Cheers!

Happy Day Ladies and Gents! I hope you're enjoying another day in paradise! 

We're still hovering a little over a month of inventory here in San Antonio, TX. Total sales are up YOY and active listings are WAYYYYYY down! Needless to say the retail side of things has been nuts as I'm sure the local realtors here will attest to. I wanted to share a story of a house one of my investors picked up that he's now currently living in with his family. I won't be sharing the specific details on this public forum to protect his privacy but I believe the elements of his story will ring true across the market and it really says a lot about the potential for fix/flip investors to adjust to see greater returns. 

I had this property back in August of 2020 when I showed it to him. It was an off-market deal at the time in a great location near Blanco and Bitters (North to Northwest part of San Antonio, 78232). It was priced at $230k and there were a lot of hungry buyers for it. At that time the numbers seemed pretty tight. Back then I thought it could only really comp out at about $365k, maybe a little more after repairs. My investor has a little experience and has a realtor in the family and they believed they'd get more for it but the house needed a lot of work - what I thought would likely shake out to $60-70k in rehab. I don't know the total amount that he put into the house but picture a 2800+ 2-story home with a pool that was all jacked up in the backyard and the foundation being 6" off in certain parts of the living area. SHEESH! It needed new HVAC systems, all the exterior love, new windows, and a full interior renovation - 4 beds, 2.5 baths, a full kitchen, and all the fixins. 

He finished up with the project a few months later and decided he loved the area and the house enough and wanted to take advantage of the extremely low interest rates and refinance after the 6-month seasoning period at a 2.8% rate (WHAAAA!?!?!) The house appraised at $405k in January. If you look at the comps in that subdivision today, I believe without a shadow of doubt that he could get it sold at $450k easily. He did a high quality rehab and the recent sales in the sub has rocketed values up like crazy! We're not even a full 9 months from when he purchased the property when we thought it comped out at $365k and now it comps out at $450k, almost a full $100k above my ARV call just 9 months ago.

He's looking to pick up another property and at the last house we walked he told me this story and I was blown away. He remarked about seeing the current market in a totally new light and adjusting his game to fit it with longer hold times that can turn into massive returns and lower capital gains tax when holding longer than a year. He believes that he could see great cash flow if he decided to rent it out which he plans to do in the future. It could be the area he's in, the quality of the rehab, or a case of being in the right place at the right time.

Flippers / investor-friendly realtors, are you seeing similar things happen with the properties you've purchased recently? I'm certain this is not an anomaly. What do you think of fix/flippers working to extend their hold times out a little longer to take advantage of this recent spike in valuations and drastic drop in DOMs? Looking forward to getting your thoughts!

Happy Hunting!