All Forum Posts by: Seth Teel

@Jason Hirko Definitely great to catch up.  Thanks for letting Jasen know we were hosting our meetup. 

See y'all tomorrow: 11/13/24

6pm @ Joey's (2417 N. St. Mary's, 78212)

Hey Y'all,
Our next monthly real estate investor MeetUp is back next Wednesday November 13th, 2024.

We had to cancel last month due to a family emergency, we hope y'all will join us again for another round of happy hour style networking. Bring you deals, your services, your knowledge, your wants & needs.

All are welcome: investors, agents, contractors, lenders, vendors, and newbies interested in learning more about real estate investing.

Wednesday 11/13/24, 6pm - 9pm @ Joey's
(2417 N St Mary's St, San Antonio, TX 78212).

This is casual happy hour style event.
All are welcome.
There is no cost to attend. 
We hope to see you there.

FB Event Link: https://www.facebook.com/events/1807068926492622/

This event is sponsored by Distilled Properties (a division of Somos Real Estate).

@AJ Wilson Excellent. We hope to see you tonight!

Hey Y'all,

Our next monthly real estate investor MeetUp is coming up Wednesday September 11th, 2024.

We had a great turnout last month. We hope y'all will join us again for another round of happy hour style networking. Bring you deals, your services, your knowledge, your wants & needs.

All are welcome: investors, agents, contractors, lenders, vendors, and newbies interested in learning more about real estate investing.

Wednesday 9/11/24, 6pm - 9pm @ Joey's (2417 N St Mary's St, San Antonio, TX 78212).

This is casual happy hour style event.
All are welcome.
There is no cost to attend.
We hope to see you there.

This event is sponsored by Distilled Properties (a division of Somos Real Estate).

Link to FB Invite: https://www.facebook.com/events/482592274577756/

Hey Y'all,
Our next monthly real estate investor MeetUp is coming up Wednesday August 14th, 2024.

We had a great turnout last month, with plenty of new folks and several seasoned veterans. We hope y'all will join us again for another round of happy hour style networking. So, bring you deals, your services, your knowledge, your wants & needs.

All are welcome: investors, agents, contractors, lenders, vendors, and newbies interested in learning more about real estate investing.

Wednesday 8/14/24, 6pm - 9pm @ Joey's (2417 N St Mary's St, San Antonio, TX 78212).

This is casual happy hour style event.
All are welcome.
There is no cost to attend.
We hope to see you there!

FB Event Page: 

* This event is sponsored by Distilled Properties (a division of Somos Real Estate).

@Sam McCormack Nothern KY is likely where will be looking: Covington, Fort Thomas, Newport areas.

In 2023 the state approved property "tax cuts." It only applies to your homestead (personal home), and it amounts to less than $500 for most people, and doesn't go into effect until 2025. In my opinion it was a political stunt. 

As for the Midwest, I am very partial to St. Louis, because I lived there for 13 years prior to moving back to Texas. The city has a ton of small multi-family housing stock and very reasonable prices.  We are also looking at Cincinnati and Louisville (I have also lived in Louisville).  

@Cindy Cheng

I'll start off by saying, many people invest in rental property here in Texas.  And many people have been successful in both appreciation and cash flow.  That being said, if I didn't live here I wouldn't own any rental property here. Plain and simple, there are just better markets for cash flow with less archaic tax structures and market swings.  I've had rentals here since 2012, and still have a couple.  However, unless I was just looking for a long term appreciation strategy this isn't a great market IMO. Texas's only tax revenue source (besides sales tax) is property taxes.  Your property tax will go up every year regardless of whether your property value actually increases or not.  The only way to combat this is to play their stupid game an fight your property taxes every year.  Even if you hire a professional to handle it, there's no guarantee your property taxes will be commensurate with your actual property value. Some folks will argue properties are typically taxed less than their fair market value, and that may be true, but it's the amount of annual taxes your pay (regardless of actual value or assessment) that will affect your bottom line.

Additionally, until the recent market correction both property values and rents have increased at a rapid rate. In a city like San Antonio, with a serviced-based economy, where over 50% of the population rent, and 17.6% live below the poverty lie, this creates rent-to-income spatial mismatch that's not sustainable.  It also creates a market where the best cash flow is found among the class D slums.  IMO this is no way to make a living, but if chasing rents and ignoring tenants is the strategy, then you can definitely hit your 1%+ rule here in San Antonio.

For my money we've been looking at small multi-family properties in mid to large size midwestern cities.  Acquisitions costs are low, property taxes are low, available housing stock is good, and there's always a need for workforce housing and rentals for young professionals. 

 We look forward to meeting you!