All Forum Posts by: James Walker

@Kevin Romines that is a lot of great information, so first and foremost thank you.

We are up against the end of the contract so I think we are stuck with the current lender or paying cash then refinance out in the future when rates might be higher. That’s the reason we might be looking at buying down points.

@Bruce Lynn paying cash would be a short term answer so we get closed on time. We would then refinance in a few months but my wife is worried about rates rising.

I think it will take too long to switch to KW mortgage on this deal.

I have a house under contract, renter ready to move in and my lender is getting squirrelly on me and asking me to make changes to my tax return that I’m not super comfortable with and they are charging $6k in origination fees for a $120k mortgage. I’m considering a couple of options and would like some opinions:

1.) find a new lender-save the huge origination fee and buy down the points- KW Mortgage will charge me $0 origination as my wife is an agent.

2.) Pay cash and refinance later- this makes my wife nervous because she’s worried about rates going up. We have the cash but I’d prefer to use leverage.

3.) stay with the current lender and have my CPA make the adjustments.

Which would y’all choose? Any options I am not thinking about.

@Allen Wu, The area around Helotes is definitely booming. I will be the first to admit that I haven't really looked at that area specifically down to the ROI level, it's a little too far away from me at this time.

If you can find a 1% property in an area that has decent appreciation then I would think it would be a great opportunity.

There are several yards on Nakoma west of 281. Granite, quartz, marble, tile, etc. which one is best just depends on what your looking for. 

@Ian Hurdle, I have been able to find some cash flowing properties,  I really like Cibolo close to Randolph AFB.  Their is a lot of development going on just to the south and east of the base as well as several larger companies coming into the area.  It's on the periphery of the corridor but that is why their is still cash flow there.  New Braunfels is really expensive to get into and their are a lot of rentals available so rental rates are about break-even .

You may want to consider getting a subscription to either the San Antonio Express News or the San Antonio Business Journal to keep track of new employers and developments coming into the area.

@Chinmay N. I don't mean all of the hospitals but specifically the Medical Center in the I-10 & Loop 410 area. The crime rate in the area is pretty high and their is a lot of apartment capacity that is starting to age. Their are some good places to eat and the medical care is excellent but I just don't see a lot of promise in that area. I am getting about 8% CoC on my SFR. I don't currently have any multi families in the portfolio, however here locally multi-families are being built everywhere I look.

This question could be answered by anyone in the REI space.  I am looking for Mobile Home Parks in the San Antonio area (anywhere along I-35 really).  I have tried all of the usual techniques of getting the attention of owners but their are a few that I cannot get to respond to anything I have tried.

So... my question is this, what tactics has anyone here used to get the attention of owners of properties who do not respond to cold calls, mailers, letters,etc.

Hi Ian, I live in the San Antonio Area and have been here most of my life.  I think their are a lot of opportunities in the metro but what parts will largely depend on what your really looking for are you primarily wanting and or needing cash flow or appreciation.  If you want appreciation your cash flow will usually be lower and vice versa.  For instance you can buy properties around the medical center that should cash flow pretty well but that area is in decline and appreciation isn't very strong in my opinion.  You could go way out north, west or in the core area (just north of downtown, Alamo Heights for instance or Southtown) where  you may not cash flow very much after repairs, cap x, etc but your asset will probably appreciate at a higher rate.

Cash Flow is always necessary but different areas have different rental rates and thus different cash flow ability.  As was recently state on the BP podcast " appreciation doesn't matter if you lose the property".  I personally like the areas between San Antonio and Austin.  Seguin, Schertz and Cibolo are markets that I am personally looking in for investments.  I would also buy in Alamo Heights if I found a decent deal.

I hope I am making and sense and not rambling too much.

Thank you for all of the really thoughtful responses.  There is a lot to unpack here already.  I know it's zoned commercial but I will have to check with the city on what other restrictions might exist.  Lots of stuff to do but at least I now have a direction.  

My family has a 0.5 acre piece of property in Austin, TX east of 35 near the old Mueller Airport. We are considering developing it into a multi floor climate controlled self storage facility.  I need guidance as to where to even begin the due diligence on such a project.  Any recommendations of people, books, podcasts,etc. that I should be learning from?