All Forum Posts by: Jerry Lundergard

@Rick Pozos Thanks for the confirmation! My houses are surrounded on all sides by folks that have been doing foundation work so I know its in my vicinity. My properties also dont have gutters so that is something I will need to look at. 

What are your thoughts specifically on soaker hoses surrounding the foundation? Im not sure if its some voodoo science or actually worth it. One of my properties has no sprinkler system so it may be my best approach to keep foundation properly hydrated.

My personal house has a sprinkler system that runs close to the foundation so I am going with that currently.

Hi there! Good wholsesalers are always valuable and appreciated. I think if you post on FB san Antonio real estate groups, or here you could find buyers. HMU if you find something on the North Side San Antonio.

That's awesome man! I love it when the plan works out like that. Im hoping the RE gods will smile upon me this year too.

Hey Stone! Ill take a stab at this. The numbers look decent, IMO. Its an 85k property bringing in a proven 950 a month. Thats pretty much a win right there, again, IMO. The ARV may or may not be accurate but if its in an appreciating neighborhood and was repaired correctly I could certainly think of worse things to do with money.

I would just recomend your pricing info is crystal clear. Make sure you understand what the price should be and what similar houses are selling/renting for. I would not overpay 1 penny in this market. DOM for rentals/sales. Do you have a solid PM?

@rickpozos

I concur 100%. Now is definetely not the time to buy real estate at pre covid prices. 

Forgot to add Jeff, id use va loan with low down payment first. You could put enough down so that when you move out your rent will cover your mortgage and pm fees. Or if you had slightly negative cash flow each month but almost zero down payment i believe its justifiable. Your still getting loan paydown, tax advantage, and appreciation (hopefully)

With low down on your va you save as much cash as possible to buy your second house conventional with 20%down. Stay in your va house for 1 yr then get you a second house using conventional but also make the second house your intended primary residence so you qualify for the best owner occupied rates.

HEy Jeff! This virus is gettin real af here! Hopefully your not on pcs lockdown for too long. 

Anyhow, i bought my first property in SA using the realtor of a large pm company here. He was pretty good. I would suggest you pick a pm company first then use their inhouse realtor to establish that relationship. You could then use their contractors for any renos needed.

I can recomend pyramis currently, i found them from recomendations here on bp. They are a smaller pm firm but thats what i wanted. I would also give Birdy pm a serious look. Pm companies can have an awesome gameplan but it all boils down to their individual pms. If a pm is overworked or just not good at multitasking you will suffer.

I predict a dip or atleast sideways d/t decreasing home sales and increasing inventory. Well, thats what I think will happen. I dont expect prices to just fall off a cliff immediately though. I think prices are more susceptible to falling the longer this goes on and even after we deal with covid. If the after after shocks of covid create a thing where jobs come back very slowly and business remains slugish and we are in a prolonged reccesion then I think there is only one way for home prices to go. If I was buying right now I would be playing off sellers fears and looking for great deals, not good deals. I still think the more prolonged this thing is the better the deals will get...

Hi there Jeff, hope you stayin safe! I had same aoc and also found out about san antonio from all the times the Army kept sending me here. 

First off, VA loan is one of the best benefits out there, use it. Secondly, the mfh situation here is tuff, imo your better off going for sfh.

Id stick to the north side in price ranges that sell/rent quickly. Id say that range is roughly 150 to 225k. Get something that needs some work and diy. Id aim for 3/2 that will rent from 1300 to 1500. When you pcs go with a solid pm to keep it rented. 

Also, max your tsp! Its crazy how many military overlook that just bankin on getting their 20 yrs. Good luck