All Forum Posts by: David Thompson

Hi Nate,

I think you have chosen a good place to start your investing.  Turnkey solutions are available which is great for out of state investor.  I have a new constructed duplex that will be ready mid-Feb can share info w/you via PM and an outstanding property mgt company that manages my multiplexes there so can be hands off.  New properties w/solid cash flows and little need to worry about fixing anything for awhile.  Not sure on Ali's comments and data but rents are up, millennials are moving in and economy is more diverse than ever.  I can also share w/you my market analysis that I did on both Austin and SA for MF investing prospects saving you a bit of time.  

I was looking at San Antonio more closely as I live in Austin and looking for some better value closer to home.  I'm keen on MF development along the I-35 corridor and see positive developments there.  Lots of data point to a high growth situation continuing.  One cloud is job diversity for me as my mentor is asking me for more data on this.  Its a big military town if you look at top employers.  SA has 3 major military installations and there is some risk that continued budget pressures (BRAC) could have an impact.  This could come up as early as 2017 but perhaps 2019 if gets delayed.  The bases may benefit but they may also get hit.  I read 5 articles (googled) to get a snapshot of the thinking here.  Any local inputs are appreciated.  Seems relatively benign and they may even get jobs out of it but something to share / think about. SA is not as job diverse IMO as other 3 large TX cities.

Hi Chris

Education is key and understanding your strategy is important. Do you want cash flow? Most investors like buy n hold cash flow opportunities especially those nearing retirement. Being in your 20s, you may want more appreciation opportunities and shorter time horizons like fix n flips. If the 150k is burning a hole in your pocket and you need to put it to work, I have some ideas for you in new, multi family housing w property mgt in place. I'm from Scotsdale, went to Chaparral HS, now live in Austin, but finding still good value, cash flow and ROI in nearby San Antonio. PM me or call me to chat. With 140K and assume u have a W2 and can qualify for loan can get u into high demand, hands off 4plex that cash flows very well.

Hi Rachel,

I would add Selma which is outside 1604 and west of I-35. I'm investing in new fourplexes here.  Depending on your brothers financial capabilities, I know folks in this complex that are house hacking w/success.  New Braunfels has solid duplex opportunities and agree w Jeff nice areas but NB comes at a higher price point.  PM me on a new duplex on NW side of SA that might be a good house hacking opportunity.

Welcome Cloud.  No doubt what you experieced has left you more motivated and determined than ever.  RE is a great avenue as you know and applaud you for getting back up and pushing forward.

My daughter is also a computer sciences major at UT so we have something in common. I like Guys advice.  Local meetups are a great way to accelerate re-building your network, understanding niches that are working locally and partnering up. You didn't mention focus area but thinking cash flow may be a priority. I have some ideas for u along I35 growth corridor betwen Austin and SA in MF. Reach out to me in a PM if interested in discussing more.

Big Daddys restaurant on 183 and Burnett is a popular one.  Every Thursday lunch. 

Hi Joel,

Sounds like you are doing great.  I also invest in MF in San Antonio from Austin and chose to outsource the oversight of my properties there.  I was careful with my selection and there are some good companies out there that I'm sure can meet your objectives.  I chose Property Elite (run by David McMurphy).  Ironically I was down there yesterday and had lunch w/David and his wife Sharon who run this boutique property mgt and sales business.  David and his wife have over 50 years experience together in the real estate business in San Antonio and have done various RE roles.   I find David very good about keeping close to the market, offering analysis with a clear goal of optimizing your investments today and over the long haul.  I feel very comfortable making this recommendation. Contact me for his contact information.

Good luck,

Proforma and pictures provided for interested parties. This duplex is being built on an infill lot (w/n a duplex community) in NW San Antonio conveniently located inside / near the 1604 loop. Strong rental demand expected. Great for house hacking for local investor / owner to build equity and get ~ 71% of your PITI covered by renter next door. Includes one car garage w/remotes, granite counter tops, complete kitchen package ready to go with stainless steel range and refrigerator.

Contact: David Thompson, MLTX properties, LLC (512) 545-9720

Welcome Sherri,

BP is a great site for educating but also connecting locally w/other like minded folks.  I would encourage like Steve suggested to check out some of your local meetups if you have not yet.  I have attended Steve's meetup and have heard the meetup on Thursday at Big Daddys at I-183 and Burnett is worthwhile from other BPers.  Also a great way to continue to build your team and to see all the opportunities that are out there.  Steve and I had a lively conversation after his last meetup on all sorts of investment niches that one would have not really thought about on their own and I made some valuable connections w/others at the meeting.   

Agree with Matthew that solid demand for rentals in Austin do not seem too tied to location at the moment albeit stronger demand is a given in selected areas closer to the core and near major arteries.  For flippers, the zip codes that I see come up the most are: to the N/NE of downtown such as 78757 (Crestview); 78758; 78752 (St. Johns); 78723 (Mueller); and to the south (78745; 78749).

James,

Although getting expert inputs never hurts you have to balance that with what are your true needs for an attorney and CPA to purchase a duplex that you will live in?  If this is a planned straight up purchase a good realtor should be able to get you into it.  If you are simply wanting to get a relationship started and build a professional team, then that is different.  I'm sure those following the Austin alerts that have experience with these types of professionals could recommend someone for your team locally.