All Forum Posts by: Seth Teel

@Krysti Sam

I can only speak for San Antonio, but if you have low cash-flow here, you are doing it wrong. This is a rental city. When I moved here from St. Louis I couldn't believe what they could charge for rents, relative to the quality of the property. My duplex here I did not get a stellar deal on, but due to it's location I can cash flow on it over $600/MO. My client's won't even look at a property if they can't guarantee $300+/mo cash-flow. There are so many flippers in SA, it's easy pickins for the rental folks. Real Estate taxes here are signifcantly higher than what I paid up north, but I also don't have property taxes (car, boat, mortocycle, etc), no income tax, and no grocery taxes. I think I still come out ahead. As for property insurance, my rates are excellent. I am not afraid to shop my rate. I have no loyalty to insurance man (or woman in my case).

Hope this helps. Good luck in your venture.

Welcome! Good luck, SA is a great place to invest in real estate.

Ruben,

In order to keep yourself from getting extremely frustrated, caught up in offer rejections, multiple offer situations, and basically forcing yourself to submit tons of offers before you get one accepted, you may want to work with more than one resource. A good agent is worth their weight in gold, but a good wholesaler can be worth double that. There are plenty of wholesalers in San Antonio. I would get a good agent (I can recommend a few if you like?) and then meet with as many wholesalers as possible. This will keep you with a constant stream of on and off market properties, and may alleviate some of the headaches associated with just offering on listed properties.

@Dan K. Sent you mail. Call with questions. Thanks.

-Seth

I have a condo package that includes 16 units, fully rehabbed, 13 leased, 3 vacant. 11%+ Cap rate. $699K. Taking offers. Contact Seth for more info: 210-628-9373.

www.investsatx.com

I currently have several wholesale deals for sale in San Antonio, Texas. Flips will have 25% - 30% equity after repairs, rentals will have at least $300/Mo cash-flow after repairs and refi.

The inventory changes almost daily, so what you see here may be gone by tomorrow. Call Seth: 210-628-9373 or email: [email protected].

www.investsatx.com

A lot of investors and agents use CPA Ed Guerrero. He is an investor himself, and understands the intricacies of making money this way. To my knowledge there aren't standard fees as everyone's taxes are going to be different. Here's Ed's contact info:

Ed Guerrero
Guerrero CPA
12330 West Ave Suite 204
San Antonio, TX 78216

(210) 490-7100
[email protected]
www.guerrerocpa.com

@Joseph Canini Have you tried working with wholesaler and/or agents that specialize in investment properties? I know at my shop we only deal with investment properties and investors. We are currently sourcing the majority of our properties off-market (non-MLS). A year ago, 80%+ of our inventory were listed properties on the MLS. It has gotten too competitive to buy listed properties. We are finding way better deals in other arenas. If you need help sourcing, feel free to give me call. The most successful investors use multiple resources (agents, MLS, wholesalers, auction, REI clubs, etc.) to source their properties.

There are a couple different companies besides Rex Report, however, Rex is the only one I have used. Depending upon what you want to do with the info it may be worth subscribing at the full level and so you have access to the online info and not just the book. They post the foreclosure list roughly two weeks before the auction, and they post what sold and who bought it roughly two weeks after that. This can be good for identifying and buying pre-foreclosures before they make it to the auction as well as finding cash buyers after the fact. There are plenty of other uses for the info in the Rex Reports, but it also can be something that bogs you down & takes your time, when you may never even have a chance to buy the property at all. @Jimmy Hong

@Account Closed Send me some more info. I have several active buyers in San Antonio that could take down a package like this.

Thanks,
Seth