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All Forum Posts by: Seth Teel

Seth Teel has started 56 posts and replied 554 times.

Post: Investing in San Antonio Texas

Seth Teel
Pro Member
Posted
  • Investor
  • San Antonio, TX
  • Posts 588
  • Votes 584

@Michael Jones Chris pointed to the best sources in town. Unless you are going to start marketing and sourcing your deals yourself.  You mentioned none of the deals worked on paper.  I am curious as to what is your criteria for a good deal?  The days of 65% deals or $50K  3/2s in Northwest SA are behind us. Are you looking for a specific cash on cash return, a percent equity, a specific margin, or something else?    I am always curious how other investors "value" a potential deal.  This helps me better source properties for investors like yourself (and myself, for that matter).   

There are definitely good flip deals in San Antonio; the sources Chris listed are selling them every day, and their clients are making money.  A lot of it can be timing and willingness to pull the trigger.  I've found that Investors that act quickly get the best deals.  Of course the opposite can be said for different strategies. Most of my buy and hold clients move slowly, but methodically, and have built great portfolios.  

Lastly, are you working with an agent (outside of wholesalers)? The more resources you have working for you the more likely you will be to find the deal that's right for you.  

Post: Looking for a broker

Seth Teel
Pro Member
Posted
  • Investor
  • San Antonio, TX
  • Posts 588
  • Votes 584

When I got my license, the wisdom bestowed upon me from the fine folks at SABOR was that new licensees should realize you are interviewing the broker as much as they are interviewing you.  Consider yourself and asset. You want to make sure that the broker is a good fit for you as much as you are a good fit for them.  Ask about the commission split structure, desk fees, buying and selling for yourself/family, is phone duty required, are there monthly minimums (sales, cold calls, etc), bonus structure, the type of real estate they focus on (investment, retail, high-end, leasing, foreclosures, commercial), how is the in-house training, what kind of on-boarding process, lead disbursement and generation, advertising associated with your franchise, corporate franchise fees, web & social media, and a ton of other items.  

Sit down and write out what's important to you in your job as a Realtor.  Put together a checklist of questions to ask.  If you did your training at SABOR, the book they make buy has a list of these questions in the back.  I actually found this process really helpful when selecting a broker.  I interviewed three brokers and went with the one I felt was the best fit.  I have never regretted my decision, and I am glad I went into it fully prepared.  

Post: Step by Step - Buying First Property

Seth Teel
Pro Member
Posted
  • Investor
  • San Antonio, TX
  • Posts 588
  • Votes 584

@Aroldo Villarreal As a licensed Realtor and someone who bough and sold a lot of property prior to being licensed, I would suggest using a few different methods to make offers. Work with an agent for offering on MLS properties (this is required for HUD foreclosures), use wholesalers cut-out the entire offer/acceptance process, and learn to write your own offers for dealing directly with individual sellers on non-listed properties. The Texas Real Estate Commission (TREC) Residential 1-4 family Sales Contract (TREC No. 20-12) is pretty self-explanatory, although TREC and the state say it's only for use by licensed agents. That being said I have seen many non-licensed investors use it, and it's the most common contract I see.

The key to getting the best deals is using several sources and educating yourself as best you can. Both agents and wholesalers can help you with the process, other investors are quick to help as well. @Seth Williams is correct, choose the method that helps you take action the quickest.

Post: Portfolio Lending in Austin or San Antonio

Seth Teel
Pro Member
Posted
  • Investor
  • San Antonio, TX
  • Posts 588
  • Votes 584

I have not used any of these contacts myself, but my clients have. Each of these banks hold their own paper and were recomended to me for local portfolio lending.

Dan Bierstedt

Frost Banks
210-724-6052
[email protected] Bank
Vice President

Blake Halbardier

Frost Bank

210-220-5029

Lewis Borgfeld
Schertz Bank & Trust
519 Main Street Schertz, TX 78154 (210) 945-7400

[email protected]

http://www.schertzbank.com

Post: Any good title companies in san antonio?

Seth Teel
Pro Member
Posted
  • Investor
  • San Antonio, TX
  • Posts 588
  • Votes 584

@Dusty Warner From time to time I use First American, Nefi Miramontes. They do a lot of work for investors, and since they are a national title company they have some client tools that are pretty cool to use for researching properties, loans, etc. Their marketing and business development head, Rodeana Reynolds is awesome; she is a value ad for her great costomer service.

Post: Several Residential Investment Opportunities in San Antonio

Seth Teel
Pro Member
Posted
  • Investor
  • San Antonio, TX
  • Posts 588
  • Votes 584

@Chavis Atkins We have a wide range of property prices here in San Antonio. As we've seen residential real estate slowly improve, we have also seen profit margins for flippers dwindle. This means those that want to keep flipping need to purchase higher priced properties because the margins are bigger even though the percentages aren't as good. As solid of a rental market as SA is, if you have the means, buying rentals or owner-financing houses is really the way to go.

Post: Several Residential Investment Opportunities in San Antonio

Seth Teel
Pro Member
Posted
  • Investor
  • San Antonio, TX
  • Posts 588
  • Votes 584

I have several residential investment properties for sale right now. These are excellent wholesale deals. Everything from cheap owner-finance houses to high-end flips. Click the link to see some of my inventory. We are picking up at least a couple more today.

Current Investment Inventory - San Antonio

Post: Looking for accredited investors interested in new development opportunity in San Antonio

Seth Teel
Pro Member
Posted
  • Investor
  • San Antonio, TX
  • Posts 588
  • Votes 584

A couple big other large employers: the federal government and USAA. Not to mention two major medical centers. San Antonio has also been courting several major companies to relocate (i.e. Tesla battery plant). And our multi-family occupancy rate it consistantly well above 90%.

Post: Getting started in San Antonio

Seth Teel
Pro Member
Posted
  • Investor
  • San Antonio, TX
  • Posts 588
  • Votes 584

@James Evertson You are building a new construction spec home? I'd like to hear more. I'd love to get into infill new construction in the urban core, but curious about the processes here. I have only done new construction in St. Louis. Good luck!

Post: Real estate appraisers in San Antonio

Seth Teel
Pro Member
Posted
  • Investor
  • San Antonio, TX
  • Posts 588
  • Votes 584

@Todd Curtis I use Mark Caraveo of On the Mark Appraisals. I have used him all over Bexar, Comal, & Guadalupe counties. He's great and very reasonable. Tell him I sent you.

Mark Caraveo

On the Mark Appraisals

16539 Canyon Cross

San Antonio, Texas 78232

Ph: 210.393.4414

Fax: 210.281.5773