All Forum Posts by: Jeff T.

It's been a while since I've dove into the San Antonio market, but in general is the 1% Rule still reasonable for a cash flowing rental or has that moved up or down? 

@Simon Stahl, I'm in a similar boat and used a young local lawyer last year to protest on my behalf. I plan to do so again this year. I like to think he cares more about getting results than the big companies. If you decide to try him, let him know I sent you his way: http://www.ryanmcohenlaw.com/

Like always, thanks for sharing @David Ivy!

We own a SFH on 1/3 acre of land that's zoned SF-3. We have a 4,000 sq ft rectangular patch of grass that I'd like to explore building an ADU on. The lot is "Flag Shaped" meaning that this rectangle of grass is connected to the main street by a thin driveway that's about 25 feet wide (ie. we have 25 feet of frontage with the main street). On either side of this thin driveway is land owned by the neighbors.

I was told recently that under current city zoning laws ADUs are only permitted when there's frontage of 40 feet or more. Has anyone else explored something like this on Flag lots before? Thanks in advance!

@Kenneth Williams any luck finding some SA banks recently that would work a refi? Anything with a short seasoning?

@Simon Stahl I would get on the phone with @Seth Teel, owner of Somos Realty. Seth and his team are the real deal and have experience with out of state. 

I was in a somewhat similar situation as you a few months back. Don't hesitate to reach out with any questions 

Thanks everyone for the fantastic input. 
See y'all in Austin, breakfast tacos on me!

@Kris Wong for us success would be a mix of appreciation and cash flow. Appreciate all of the insight and it's been great to confirm that the house hack strategy seems to still hold strong.

@Tim Macy Great tip on the mailers. We've actually found about 5 units in neighborhoods from driving around that we're targeting with letters (basically our criteria is find a great neighborhood, look for the run down house with little or no lawncare and target that one). I'd love to hear more about your mailing strategy (both in terms of how you position your offering as well as the frequency of following up).

@David Ivy thanks for pulling the past duplex sales. Curious if you or anyone else you know has been able to buy a single family home (small home, large lot) and built a second mother-in-law unit on the the property? I had heard that some zoning had recently changed to allow for greater density, but maybe this was incorrect?

@Linda S. thanks for the reassurance that house hacking is the way to go!

 I actually viewed this unit about two weeks ago. It was a little too rough around the edges (junkyard dog chained in the backyard, empty liquor bottles everywhere, someplace I wouldn't want my fiancee alone) but I'm thinking along the same lines as you

Love these replies.

@Jeff Sprunger, thanks for the thoughtful response. Our goal is definitely to reach freedom and have time with kids when we get there. Would you change your response if we mentioned that we're willing to be pretty aggressive in investing at this time (ie. use that cash to buy multiple units, etc)? 
@Patrick Liska, Answers to your questions in order: No previous rehabbing experience, when I say we're handy it means we can install flooring, pour concrete, and things to that effect... I'd say putting up drywall would be a big stretch. We would be comfortable being a landlord to people close to our age (pretty good at the Good Cop (me), Bad Cop (fiancee) thing). The multi family/house hack option has been the most attractive to us... do you have any thoughts on specific areas around Austin or is that just the strategy you'd take?
@Kris Wong, @Thomas S. since it looks like you're the only local who's commented on this so far what have you found to be successful as an investment? Your thoughts on living in an area we WANT to live in is great, neighborhoods we've loved have been pricey (mostly hugging the river on the north or south between Zilker Park and East Riverside)