All Forum Posts by: Estrella Carolina Mckinney

@Luis Serrano hey don’t get discouraged and stay on top of things. unless the negative comments offer you great advise or a solution don't take any of it.

my best friend has been youtube red lately. Tons of free advise especially if you type the right key words. Whether your are driving, cooking, fishing or working out keep this audios going.

try this, “propstream virtual wholesaling buyers list how”

Good luck, you got this!!!

@Calvin Ozanick hi I emailed them to builderservices at guildmortgage net but the email came up incorrect. Do you have another contact. I actually tried to use guild mortgage here in San Antonio to refi 5 deals and i was very disappointed with their representation/local loan officer- horrible made me waste about 2 months while paying Hard Money for 2 months with two deals. Hope to hear from you. thanks

Hi any new advice or good lenders? I'm currently building 3 lake homes- started the prep work and finalizing the construction loans this week. So excited. During my loan research I came across several lenders- some good some just said no, then some were just ok. My current terms are decent, but we can always improve our terms. Please share what you find please.  my current terms are 10%, 1 point, 100 % construction cost, no broker fee, no interest until i do draws, fast closing 2wks, I had to owe the land outright, believe it or not this is a Hard Money lender. 

Lastly, during my research I came across a lender who will do 4.99 not to exceed 8.99 starts at 4.99 and goes up .5 each month, 2 points, Broker of 2points (ouch), 75%Loan to cost, no payments until house is done or refi- none whatsoever all deferred interest, 5 first draws free.  This lender seems like the ideal scenario I don't think that this price can be beat. I'm not using them because I already started my first one and I'm closing this week.  Anyway, hopefully people can add to this forum-I'm really liking new construction.

@Tyler D. what do you know about El Paso?  Have you done any research. Your other research is right on. Great input. 

Im from SA and I agree with everything here so far. I was born in El Paso I left in 2001 After I joint the Air Force I only Visit now. I have done some research For El Paso definitively cheaper than SA but so far just too risky. There is not a lot of employment and their population is not growing as much as it is in SaN Antonio. 
Love love SA feel free to reach out. Best of luck. 

@Rachel H. you are awesome. I wanted to tag you when he asked about it. I came actor your post and audio once. I believe you are the queen mobile home right ? Genius !!!  thanks for the input. 

As always @Greg Dickerson so informative and right on. I learned a lot of what you said today. Thanks for reinforcing my learning and helping others. 

I’m curious too. I know nothing about this. But I did came across something very interesting today. Somewhere I heard more than once that Mobile homes are not allowed ever again. But I found a beautiful peace of land in a destination location that I can build and have whatever I want to include Mobile homes.  But instead I’m looking to build shed living like space, it’s just a shell and it has to be insulated, drywall and get all utilities floor etc. Those will bring more in rents then Mobile Homes for sure.  I still have to research how the appraisals get done. I don’t see how it would appraise any differently than a normal home.  These sheds will look no different and they have a concrete foundation.  I did my prizes and I think I can build a 1200 Sf for 60k. Just a thought if you think mobile might not give you the numbers you need. Good luck and hopefully someone is able to help you. 

@Mark Hirleman you are so correct. This is something I had to learn by mistake. My Alamo Heights Investment, due to covid and other issues. We decided to keep it and sell later for better profits. This property came with a living space structure that was underutilized so in order to make my investment strong, we decided to add some minor touches and rent the back unit. Due to this strategy my headache went away and now its cash flow positive.

During this process I learn a lot about zoning etc. Check with your county/city to make sure you educate yourself before you pull the trigger in something like that. Make sure that if you go this route you understand zoning and additional buildings in your property.

Jack, great question and very wise of you to place it. BP is the best.

So Ive been in SA since 2007 right after I left Air Force AD, So i know the pain of moving. Ok, so your budget is extremely reasonable but the best possible scenario to give you has many many options.

Let me explain, when I moved here to SA, without seeing the house My husband bought a 3/2 brand new home outside of Marbach/1604, that property was really good to us. But although it turned out to be good, now I know that it was a mistake. I should have done what you are doing now ASK QUESTIONS. Back then I didn't know or care to know anything about Real Estate. 

So after many mistakes and nonstop research this is what I would do.

Depending on your money situation

If you have cash or are not afraid to use Hard Money- this would be my first choice

If with cash/or knowing how to obtain a fixer upper with a Wholesaler I would absolutely go this route all day long

The other way...

Let's say you are doing it the conventional way- bank finance. Then your are limited with the fixer upper you can get, in order for the bank to finance it, it would have to be very cosmetic.

Jack, I wouldn't get a home until you really know the market here, get to know wholesaler and get signed up for all the facebook RE investment groups. It looks like you have some time in your hands so thats great.

One more thing, again knowing what i know now, my very first investment would have been a newer 4 plex, live in one and really get to experience what is like to be a home owner and also a landlord. and the best part, getting the best possible Rates because is your personal home. There are plenty in SA, not at 180K but you just have know how that can happen. Remember your DTI ration can include the income from the other rentals, you just have to find the right lender that will include those Moneys in order to qualify.

I don't know if you will be using the VA loan, but if not you can still save on the PMI, by using a friendly bank. There is one that I know of that as long as your are Military affiliated they waive the PMI, great terms and no closing costs. I'm very careful here about adding names because I don't want my post to be deleted. I'm really familiar with their rules yet lol.

Best places as for single homes,

Stone Oak, with the right wholesaler or studying Realtor.c you might hit the lottery. I often see 210K 3/2s. Schools here are 8-910

Alamo Heights, too expensive. Not an awesome rental market, best for flipping. TRUST me I know. expensive lesson

anything by NEISD is good in my opinion good luck!!! I'm always one call away.

Katie is correct. Find someone local.  With luck they will educate you and inspire to to make the least amount of mistakes. 

BRRRR is definitely the way to go. My only advice, I have plenty, But for the sake of this reply is have more than one exist strategy. Always plan for worst case scenario And ensure ensure ensure you have a way to refinance, get that relationship going and get all of your Tax and paperwork ready to go. Good luck and you got this.