All Forum Posts by: Timothy G Dunson

Hey BPers, my wife and I are about to sign a contract for a multi-family in the SA area.  I had a question about a few of the documents my agent sent me to sign.

1. Within the purchase contract, are there any specific criteria I need to call out (this is anew build, if that helps)

2. for the agent contract, it says they will be the exclusive agent - I get that makes sense in the context of this property, but can they make themselves the exclusive agent we have to work with across Texas?

Hello everyone! 

First time posting and getting into the investment scene, I currently have a single family home that was my previous primary, and looking into purchasing my 1st true investment property, trying to find some advice on the financial aspect of the purchase, here's my scenario;

Currently going through pre-approval with the builder and I do have liquid assets enough to cover the downpayment for the property (40k) but I do have a car note (41k, 800 monthly, extra 500 to principal monthly) and a Patio upgrade (25k no interest till March 2025).

I'm unsure if route A) Payoff the car note, and patio with liquid.... and do a 2nd mortgage on the single family (40-50k) for the downpayment on the investment property, or B) just use the liquid to pay for the downpayment and ride out the car note and patio till when its due.

Had a rough quote on the 2nd mortgage which would be 500 monthly, and I guess a follow up question would be; If going route (A) would I need to get the 2nd mortgage before or after pre-approval from the builder? When should I do the 2nd mortgage route for future investments?

Thank you again everyone and I'm excited to be a part of this group! Trying to see financial freedom! 

Hello BP Community. 

I am very new to RE Investment and hoping to get few advises. Is there any DSCR lenders that will help rookie like me to fund a duplex as rental property without a down payment? I do have 760+ credit score but just don't have money to make down payment at this time.

Any advise is welcome. 

Best,

Jayson Tuliao

I am looking to move from Michigan to Texas here in the next 3 months or so. As a result, I'll be selling my house and using the gains to put a down payment on a secondary house next to my current rental property. I've spoken to several lenders and each one says I have to high of a DTI ratio. I currently have about 9K saved up and was wondering, is it better to pay down 9K of my 70K debt now? Or keep it until i close and have escrow help me? I'm looking at a gains amount of 40K after closing costs, realtor fees, and tax payback. Either way, they all agreed I must sell my house and use the gains as a debt paydown and down payment to purchase the next. What are your suggestions?

Have a property (new build) in North East SA, rented for a year & unable to rent for almost ~10 months now, selling in this market would incur > 100K loss as impossible to compete with builders. In unlikely scenario if it rents, will be cash-flow negative probably by 400-500. No option but to sell to stop hemorrhaging...

After selling can I deduct losses (including passive losses) against other capital gains or ordinary income by 3K?

Thanks.

Hi, I'm wondering with the market like is right now, high interest rate and just having $30k cash and having a regular mortgage. What you recommend me how to start investing in another property for rent. Do you recommend me buy a house to fix or buy another house new for me and use my current house for rent and move to the new one? I'm not sure what to do....

Hi everyone!

My lender is about to prequalify me for $200-300k, and I target Texas, being living and working in California, LA, so an out-of-state investment. I have a suitable lender that can qualify me in any city or state. It seems that rent/value is favorable and easily meets the 1% rule. He also said insurance and taxes can be too high eating DSCR loan with current rate and I will make less money than Ohio and Kentucky state (example). This statement made me question my focus market. What have been your experiences so far, and any hidden costs that you did not expect managing investment properties?

1. Does SFH or Duplex value add strategy still work, and how is the inventory? My agent said it's a buyers' market. Is that true?

2. Are there any B and C class safe neighborhoods to recommend?

3. Any interesting facts about San Antonio? What are the pros and Cons of this market?

I think you can find a good deal and win in every market. But does San Antonio have real long-term growth potential? 

I am a resident of Dallas, TX, interested in entering the San Antonio market. However, I am unfamiliar with the area. Could anybody provide me with suggestions for promising investment areas or any other advice?

We are looking at purchasing a turnkey property near UTSA where it will be our primary residence for two years and then a rental. Is it worth the risk to purchase a property that will not cash flow immediately? We’ve done it with another property we own in CA where we managed it ourselves and eventually it cash flowed. I’m not as familiar with the market here and if it’s too big of a risk. We would have to rent it for 2,800k/month 4b 2.5b. Thoughts?

Hello, 

I am brand new to REI, I am currently renting an apartment with my brother, in college, and graduate next May. I am hoping to get a head start on my REI journey before I graduate. I have been doing some research in REI and I am thinking between either starting with house hacking or a live-in fix and flip. I have some experience with construction as I have worked in commercial and residential construction a little over a year, so I was thinking of doing a lot of the renovations myself. I don't know if starting with a fix and flip would be too formidable. I have been looking at some areas in the north side and west side of San Antonio.

Does anyone know or have any advice on if a house hack or live-in fix & flip as a first-time strategy would be better, and what would work better for either of these areas in San Antonio?