All Forum Posts by: Jacob Forbis

Welcome to BP J Koehne I'm a new investor in the San Antonio area with one sf rental at the moment. Looking to grow that quite a bit over the next several years. BP is a great resource. Make sure to check out the podcasts if you aren't already. Perhaps we'll do business together one day in San Antonio!

Welcome to the forums Dusty Warner I am a newbie investor here in San Antonio as well! Best of luck and success - maybe we will work together one day in the future.

@edgardo

@Edgardo Matos We definitely should connect. That is the part of town I live in.

Welcome @Amy Haverlah - I am also an investor based here in San Antonio.

Welcome to the forums, Edgardo Matos ! I am also in the San Antonio area and have similar goals. I currently have one rental property and one home that I live in. What parts of San Antonio are you interested in?

Stuart - are you comfortable with leveraging your money? With $140,000 in equity you could sell and pick up 5-6 100k houses with 20% down and keep whats left over for maintenance and cash reserves..

I'm not familiar with the Alabama area but in Texas we can get around 900-1k rent for 100,000 house.

Welcome, Alex! I am from San Antonio as well. I will send you a message.

This is a great thread...really informative. I feel like I am learning a lot.

@Brandon Foken I wonder if you had any updates? How has your progress been? Have you seen you your response rates rise?

Thanks everyone for the replies, it has been very helpful. I feel like I have a better idea of what I am getting myself into.

Thanks everyone for the replies. That makes sense about the additional requirements for a non-business loan.

@Mark Ferguson You make a great point. I definitely want to find the balance between a good deal, and a house we actually want to live in. I would definitely be willing to take a deal that I normally wouldn't if the house fit all of our needs perfectly.

@Jon Klaus Thanks so much for the information and feedback. I will definitely keep the idea of a cash-out refi in the back of my mind. I think one of the things I was mulling over was using equity in my personal residence to roll over into my next personal residence, so that eventually we could own our home free and clear. My fiance is not as risk tolerant as I am, and I told her we could try to be free and clear of personal debt, and only leverage against investment properties. She is much more comfortable with this idea.

@Matt Devincenzo Thanks for the input. What you're saying makes a lot of sense. Although, one thing I was hoping to be in my favor is that aren't certain foreclosures available to primary residence buyers before they're available to investors? I was hoping that this might give me first crack so to speak at some of the better deals.

I could try to find other lenders other than hard money lenders to make a purchase like this work. Or how about 203k loans? I've read up a bit in the forums about how there is a lot of red tape...but it might be worth it for the right deal?