All Forum Posts by: Darionn James-Trigg

Good Day BP San Antonio,

Real estate investing can be a scary venture to begin, especially for those who aren’t familiar with the area they would like to invest in. A lot of investors know vaguely San Antonio is a good market to invest but what exact areas are the best? As we all know LOCATION is EVERYTHING when it comes to real estate. Depending on your budget, exit strategy, and experience some places are better than others.

I wanted to take time out to highlight some zip codes in the San Antonio area to assist investors in possibly choosing an area for their next flip or rental. This will be just a snapshot of what is going on, and I would advise any investor to do their own due diligence before making any decisions. These figures are directly from the MLS as of May 2021.

Today we will discuss zip code...78201

Median Sales Price: $200,000.00

Median Days on Market: 28 DOM

Median Price per sq/ft: $147.00

Major Neighborhoods: Central LA Heights, LA Heights Keystone, Woodlawn Lake, Balcones Heights, Monticello Park, Maverick

Rental Rate: $997.00

Rental DOM: 30 DOM

Schools: Thomas Jefferson High School

Restaurants: Outlaw Kitchens, Sangria on the Burg, Comfort Cafe and many more.

Woodlawn Lake,

A little over 300 years ago, a man-made lake designed to serve one of San Antonio’s first subdivisions was created. Back in 1887, three investors whose partnership was called “West End Town Co” purchased 1000 acres west of the original San Antonio city limits. They called the subdivision “West End Town”, construction involved a dam across Alazan Creek, resulting in an artesian well-supplied lake that first measured 80 acres. A trolley used to transport residents from West End Town to downtown, in the beginning years West End Town was like a mini resort for locals.

In 2000, Woodlawn Lake received its historic district designation, and today it is one of San Antonio’s sought out neighborhoods. The neighborhood has a mix of homes from historical, to newly rehabbed homes. The park still attracts patrons, it is still home to San Antonio’s 4th of July celebration. You can also find residents walking or running on the track, playing at the parks, enjoying the rec center, and also fishing. With close proximity to downtown, this area will continue to thrive as San Antonio’s downtown area is revitalized.

Thomas Jefferson High School,

This area is full of history. Thomas Jefferson HS first opened its door back in 1932. It serves students in the San Antonio Independent School District. Built with several unique features for the early 1930's. Features include. Spanish / Moorish style architecture, on-site gymnasium, 1,200 seat auditorium & ornate exterior concrete ornamentation. In 1983, TJHS was added to both the State of Texas and US National Registry of Historic Places.

Let me know if you find this information valuable. Have you invested in or around this area before? What have been your experiences investing in these areas?

Good Day BP San Antonio,

Real estate investing can be a scary venture to begin, especially for those who aren’t familiar with the area they would like to invest in. A lot of investors know vaguely San Antonio is a good market to invest but what exact areas are the best? As we all know LOCATION is EVERYTHING when it comes to real estate. Depending on your budget, exit strategy, and experience some places are better than others.

I wanted to take time out to highlight some zip codes in the San Antonio area to assist investors in possibly choosing an area for their next flip or rental. This will be just a snapshot of what is going on, and I would advise any investor to do their own due diligence before making any decisions. These figures are directly from the MLS as of May 2021.

I would like to begin with zip code…… 78204

Median Sales Price: $250,000.00

Median Days on Market: 54 DOM

Median Price per sq/ft: $218.00

Major Neighborhoods: Lone Star, Collins Gardens

Rental Rate: $1500.00

Rental DOM: 53 DOM

Schools: Luther Burbank High School, Joel C Harris MS

Restaurants: Kunstler Brewing, Camp Outpost, The Guenther House and many more.

The Lone Star District,

If you’re familiar with San Antonio at all, you’ve probably heard of The Pearl. Well there’s another development similar in the works called “The Lone Star District”. The district is about 1.5 miles from Downtown SA, formerly known as the Lone Star Brewery. This area will be 32 acres full of shopping, dining, working, entertainment, and residential living. There will be trails to enjoy, a river to kayak, restaurants to grab a bite to eat, and places to take your family as well. GrayStreet Partners and Midway have partnered to take on this project that should be near completion in 2022.

Luther Burbank High School,

Burbank High School in SAISD, originally opened in 1937. This high school is undergoing renovations costing nearly 80 million dollars. This project will be 250,000 square feet..WOW! This project is expected to be completed fully by 2022.

Let me know if you find this information valuable. Have you invested in or around this area before?

I plan on doing an analysis for every zip code in the area, so feel free to leave your comments below.

Investing in real estate can be expensive. But what if I told you that you didn’t have to use all of your money to fund a real estate investment. That’s where hard money comes into play. When looking for fix and flips or potential rental properties, purchase prices and rehabs can seem too pricey for some.

Hard money is an asset-backed loan, which means you don’t need a 750 credit score, two or more years of employment, or a debt to income ratio 36% or lower like traditional lenders require. Hard money lenders lend based on the value of the property you are purchasing, if you default they will foreclose on the property and recover their money. Hard money lenders may take a quick peek at your credit or finances, but much less rigorous than a traditional bank or mortgage company would.

Since hard money lenders do not dive deep into your credit or finances, they are of course taking on more risk. To combat that risk, hard money loans typically come with higher down payments and higher interest rates in comparison to traditional loans. So why get a hard money loan, especially when rates are historically low?

1. 1. Faster approval process

• -Traditional financing can take 30-45 days, hard money lenders can fund as quickly as a week.

1. 2. Approval based on property value, not your credit history.

• -Hard money lenders care about the value of the property more than they care about your credit score or debt to income ratio.

1. 3. Flexibility

• -Hard money lenders are sometimes individuals or private lenders, which means they have more flexibility over terms and interest rates. Traditional lenders typically have more strict guidelines to follow.

But there are a few drawbacks to using hard money…

1. 1. High Interest Rates

• -Hard money rates are typically over 10%, which is much higher than a FHA loan that is as low as 3.5% .

1. 2. Larger down payments

• -Hard money lenders take on more risk since they don’t dive deep into your financial history, which means they want more skin in the game from you for security.

1. 3. Short Terms

• -Loan terms are not 15 years or 30 years as with traditional. These terms can be as short as 6 months.

1. 4. Riskier than traditional

• -With the high interest rates and short terms, you could end up being under water if you do not manage your project correctly. Buy with hard money, fix it up, and refi or sell the property as soon as possible.

1. 5. May need proven track record

• -Some lenders would like to see that you know what you’re doing before they lend you money. This varies lender to lender so be sure to verify.

In conclusion, hard money can be a viable option for investors looking to leverage their cash, be able to buy more properties faster, or for those who can qualify for traditional financing. Be sure to have all ducks in a row before applying for hard money, you can easily end up underwater and foreclosed on if you mismanage your project.

Feel free to leave comments. Have you used hard money before? Did you know this was an option? 

The San Antonio real estate market is on FIRE as many of you may already know. But what some investors and aspiring homeowners may not know, is that we have big firms with insane buying power entering the market driving up prices and of course limiting the supply for the everyday investor or aspiring homeowner. Many think it’s just the influx of California buyers entering the market which is partially true, but we also have firms out of Toronto, New York, Arizona and even as far as London looking at San Antonio as a location they want a stake in.

Not only are they purchasing distressed properties at a discount, we also have firms coming in buying new builds and turning them into rental properties, which is a big win for them with the rental market being so strong. For example, according to the article a firm out of Toronto called Tricon Residential bought 35 out of 334 new builds in the Escondido North neighborhood on the Northwest side. 3 homes were purchased by a firm in London, 4 went to a firm in Austin, and 3 more purchased by a REIT out of California, all purchased with CASH back in 2019.

Investors are getting more aggressive with their tactics to obtain properties, such as knocking on doors, sending out letters, and using data from court records just to find ways to get properties in the area in such a competitive market. There’s even a good amount of investors local and remote who will buy homes sight unseen. Take a look at the article below to see how this may affect your investing or your home search.

https://www.expressnews.com/sa...

Give me some feedback on your experiences purchasing properties in the San Antonio area. Are you finding different ways to obtain a good deal? 

I am looking for serious real estate investors who are looking for access to off-market properties in San Antonio, TX. No matter you're exit strategy or price range please contact me, I will be able to find the perfect property for you. Please send me a message if you're looking for more information or you can fill out this short form in the link below. Take care!

https://bw2qdhn5mpq.typeform.com/to/PJGIfbqu

Thanks.

Hello All,

I was wondering is there anyone from Texas who uses the TREC contract to wholesale, and is there a step by step or tutorial on how to complete that contract for a wholesale deal? I see some one pagers, and some who use TREC and I would like to be able to navigate through both contracts. 

@Jonatan Barbera thanks for responding to my post. I did attend the SAREIA meeting and it did seem more like sales rather than true education or networking. I will take the advice of getting some business cards printed so I can begin to market myself. I will keep you in mind for any future concerns or questions that I may have. Again thanks a bunch!

Thank you everyone who took time out to respond to my post. I hope to meet the San Antonio residents who responded. I will be attending the SAREIA meeting tonight, which was free of charge for first timers. My goal is to just network and learn the environment around me since I am new to this field. Ive seen plenty of expensive wholesaling programs that I know NOT to purchase. I thank you guys again!!

Hello Everyone! My name is Darionn Trigg and I am brand new to the real estate field. I'm currently in the process of educating myself on real estate investing, in particular Real Estate Wholesaling. Wholesaling is something I quickly fell in love with after watching many videos on YouTube and listening to plenty of podcasts. I would like to begin my real estate journey with wholesaling as the foundation of my real estate business and after mastering that process I would like to begin rehabbing properties and building a rental portfolio. 

I recently signed up for my first Real Estate Investor meeting, and I am extremely excited to attend since this will be my first time doing anything related to real estate. Since I am brand new and still in the learning process, I don't have a LLC set up, which means of course I don't have business cards or anything formal at this point. My goal for this first meeting is to soak up as much information I can from other investors, get a better feel for hot markets in my city, and hopefully begin to build a cash buyer list so I will have someone to market properties to when I find sellers. Since I don't have business cards or an LLC set up, what is the best way to network with other investors to show I'm serious about building my business and getting my feet wet in the real estate field? Should I wait until I have more of a business structure before I begin to network and build a cash buyer list?

I live in San Antonio, TX so anyone who lives here or has knowledge of this market your responses are encouraged!