All Forum Posts by: Timothy G Dunson

Personally I like NE outside of 1604 just because I believe that's the path of progress. As Austin and San Antonio grow bigger they will inevitably grow the fastest towards each other. That's of course speculation and an opinion. I'm going to DM you about the properties inside the 1604 though.

1 Vote

San Antonio, Texas

Quote from @Cuauhtemoc Trevino:

My goal is to become a long-term rental investor, but I would like to start by doing a couple of fix and flip properties here in San Antonio. My question is how can I get access to off market deals? I will be paying cash for my 1st property.

What kind of flip are you looking for? More specifically areas, price points, how heavy of a reno, what's your budget, how fast do you need to get in and out? There are a lot of questions you will need to narrow down before buying a house cash. I'm going to DM you

0 Votes

San Antonio, Texas

Quote from @Michele Fischer:

Are you planning to say that no guests are allowed at all? I would think that would turn off a lot of applicants, peopel want their own place to have some freedom.

Any guest policy is very hard to enforce, with a camera or not. No matter how long a guest stays compared to policy there will be an explanation or excuse or expectation that you will look the other way.

Hopefully people understand that with you living next door there will be more enforcement of the rules, but you need to figure out what you can tolerate becuase they are going to push you to the edge and trying to be ultra strict may backfire. This was hard for me to comes to terms with, that I don't really have very much control over who is in the unit or for how long. It can drive you crazy if you let it.

This is exactly what I was thinking. I house hacked a duplex in south FL and put a ring camera on my side. When I would go overseas I would rent my side on airbnb so I would be able to see all the activity at the front door. It just caused me more stress than I needed to be honest. Watching people leave the doors wide open. Unknown people entering and etc. All it did was cause me stress. It didn't actually solve any problem for me.

0 Votes

San Antonio, Texas

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Strong Rental Demand: San Antonio boasts a growing population and a thriving job market, making it a hotspot for renters seeking affordable housing options. Residential multifamily properties cater perfectly to this demand, offering flexibility and scalability in rental income.
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Potential for Appreciation: San Antonio's real estate market has shown steady appreciation over the years, driven by economic growth and an influx of new residents. Investing in residential multifamily properties allows you to capitalize on this appreciation while benefiting from multiple rental incomes.
Easier Management: Managing a small multifamily property in San Antonio is generally more straightforward compared to larger complexes. You can maintain a hands-on approach or enlist professional management services to streamline operations and maximize efficiency.

Strategies for Success

Location Matters: Focus on neighborhoods with low vacancy rates, good schools, access to amenities, and proximity to employment centers. Areas like Alamo Heights, Stone Oak, and Downtown San Antonio are popular among renters and investors alike.
Financial Due Diligence: Analyze the property's cash flow potential, historical rental income, and expenses. Factor in property taxes, insurance costs, and maintenance expenditures to ensure your investment aligns with your financial goals.
Take Advantage of Financing Options: Explore FHA loans for owner-occupied properties or conventional financing options tailored to multifamily investments. Working closely with a lender experienced in San Antonio's real estate market can provide valuable insights and competitive rates.
Upgrade and Enhance: Consider renovations or upgrades that can increase rental income and property value. Focus on energy-efficient improvements, modern amenities, or cosmetic upgrades that appeal to San Antonio's rental demographic.

Community Engagement

Are you currently investing in residential multifamily properties in San Antonio, or are you considering making your first purchase? Share your thoughts, questions, and experiences in the comments below! Let's build a supportive community where we can learn from each other's successes and challenges.

Whether you're a local investor or interested in tapping into San Antonio's dynamic real estate market, residential 2-4 unit properties offer a compelling opportunity for growth and financial stability. Let's discuss how we can leverage this niche within San Antonio's multifamily landscape.

Join the conversation and let's navigate the path to real estate success together!

Happy investing!

0 Votes

San Antonio, Texas

Quote from @Merny Pierre:

I'm following this thread, Thank you all for your valuable input.

Where can one go to find hard money lenders in their areas?
Is there a specific search filter that works well?

Quote from @Katie Smith:

Hi Lucas!

If you buy a property for $80K - you will need to put atleast 10% down towards the purchase price ($8K) PLUS closing costs such as lenders fees, title fees, and insurance and tax costs. Gaging those exact costs are hard but you can start by calling around & getting some quotes. With most hard money lenders - you will need funds to start the renovations - since they work on a draw system. I'd say you need a minimum of $30k for a property at this price, to be safe.

Hey Merny, I can help set you up with lending. I'm going to DM you a little more info.

1 Vote

Detroit, Michigan

Quote from @Lucas Schlund:

I have been having a very hard time getting a straight answer to this question, probably because im having a hard time wording it right, so just bear with me here.

For my first deal, I plan on BRRRR'ing out of it to build my portfolio faster. I will give some example numbers, and please let me know what you all think.

Perfect scenario example :

Buy a property for 80k, put 25k into rehab, and it appraises for 150k. After I would refinance and roll it into the next deal, like all BRRRR's work.

Lets say I find a deal and the numbers run to be exactly like the situation above. How much cash should I plan on pulling out of my own bank account for this?

What I mean by this, is should I use a lender to cover 90% of the purchase and 100% of the rehab for max leverage, or should I put more equity into it. Should I have a lender cover 90% of the purchase price and 0% of the rehab?

You guys get the point, should I be looking to leverage other peoples money as much as possible, or use more of my own cash in the deal?

The main reason I'm asking this, is to understand how much cash I need to save up in reserves before pulling the trigger on a deal like this?

Thank you to all that respond and your input.

You may be asking more questions than you think. Your lender may be looking at cash reserves or proof of funds. Ill DM my number so we can talk.

0 Votes

Detroit, Michigan

Quote from @Mateo Garza:

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?

My first investment property was a house hack too!. I'd love to connect and talk to you more about it. I'll DM you

0 Votes

San Antonio, Texas

Quote from @John Guillory:

I have recently been learning about wholesale real estate and creative finance and thought that they were amazing ways to get into real estate without needing large amounts of capital on hand or taking out a high interest loan. That seems to hold true after some significant research, however, I see a trend that labels wholesalers as shady individuals. I of course want to avoid this, and was wondering the best method/ information i needed to avoid this stereotype. And maybe a bigger question i had for the more knowledgeable individuals is: Is the practice of wholesale real estate shady in itself or is it just a lot of the people that it attracts?

I'd love to have a chat about this. I'll DM you my number.

0 Votes

San Antonio, Texas

Quote from @Edward Zachary Samperio:

Hi San Antonio Community,

I'm Eddie, a 22-year-old Non-Commissioned Officer with over three years of service in the US Army. Come June 26, 2024, I'll be making a move to your vibrant city, and I'm already thrilled to join the local real estate scene.

With 10 months ahead of the move, I'm eager to connect with like-minded individuals, understand the neighborhoods, and explore potential investment opportunities. Real estate is more than a passion; it's a path toward financial freedom that I believe many of us share.

Whether it's tips about specific areas, insights into pursuing wealth through real estate, or simply a friendly chat about San Antonio's culture, I'm all ears.

Looking forward to building friendships, learning from you all, and growing together.

Cheers,

Eddie

Hey Eddie!

Just saw this post right now. I am a former Marine and currently a real estate agent at New Western in San Antonio. I see you are moving to the city here in a couple of weeks. I'd love to jump on a call with you and narrow down your buy box!

0 Votes

San Antonio, Texas

How much cash did you have to bring? What are the numbers? How did you structure the deal?

1 Vote

All Forum Posts by: Timothy G Dunson

Timothy G Dunson has started 14 posts and replied 61 times.

Post: What the fast growing areas of San Antonio?

Post: Looking for my 1st off market fix & Flip - Don't need a lender.

Post: Managing entrance on Duplex?

Post: Maximizing Returns: Why Residential Multifamily Properties

Post: How Much Cash Do I Need To Put Into My First BRRRR and How Much Should Be Financed?

Post: How Much Cash Do I Need To Put Into My First BRRRR and How Much Should Be Financed?

Post: House Hack vs Live-in Fix & Flip

Post: What are the positives and negatives of wholesaling?

Post: New to San Antonio in 2024: Army Veteran Eyeing Real Estate Opportunities 🏠

Post: Multifamily property in the greater Tampa MSA