All Forum Posts by: Jesse Ramirez

@Jason Lee I’ve looked at similar land sizes in my area and it’s crazy to see the fluctuation in price. Usually pools are what put the bigger houses near the top of the tier.

So I’m in the process of finding my first deal but do not actually have one under the belt.

I was gifted a land in Timberwood park in San Antonio from my gma. If I sell the land out right I can get anywhere from 40-70k if I spec build and sell the house I could possibly make more. The houses in the area go for 300-500k I plan to use the land as a down payment (since I would own it outright) and then build and sell. Am I in over my head with this or should I go for it? Are there any spec building books you recommend?

@Joseph OHare hey man. Right now In San Antonio is rough. Almost no multi families exist that meets all the number your hoping. Building a multi family might be your best bet.

On another topic where in west Texas you investing? After working out there I can definitely see the allure.

@Shelby Ek so i travel for work. This is my hometown and the casita would be my place when I’m back home. Hence the fha. When I’m away I would rent it out.

So the house in a c neighborhood at best in San Antonio.(not sure how to classify neighborhoods). It’s a front house(3/1) with a Casita in the back(2/1). The laundry room is separated so both parties can access it. New water heater, newly remodeled and they just put central air in the front and back house. The fha appraiser just appraised it for 145k and that’s what I would be paying. They want 4100 down at 5% on a fha. I have plans to rent the front house full time and Airbnb the back. I’m expecting anywhere from 700-1000 for the front house. The next door neighbors backyard is junk and not friendly dogs separated by a chain link fence. The mortgage is coming out to 1100 a month.

https://www.realtor.com/realestateandhomes-detail/1711-W-Laurel_San-Antonio_TX_78201_M81261-94519

Is this worth it? It’s my first. Am I stuck in analysis paralysis? Let’s say i only pull 700, is it worth it to cover the rest on my own?

So I have my first duplex not In the greatest neighborhood in San Antonio. But I feel comfortable with it. When I originally did my own comps, I thought I found it to be in 1k range. I reached out to a property management company who said they wouldn’t take me on bc they did their research and found the rents in the area is 700 max and they won’t take anyone with less than a 1000.

The mortgage is looking to be about 1000/ a month.

I know even if I have to pay the difference in mortgage, I’m paying myself. My question is, what to do about a property management? Do I try to train someone myself? I travel for work so me being the landlord is kind out of the question.

@Pedro Padierna what area of San Antonio? I recently bought my duplex in San Antonio. But I’m from there, travel for work. I’m afraid I might face the same situation soon.

I’ve come to the conclusion that I’m gonna go with lockstate remotelock. For compatibility and reliability. Do we just go with the lowest tier? Is there a difference in getting the higher priced ones? What camera did you pair with it?

@Theresa Harris thanks everyone that wrote back. I’ve heard on the podcast several times that living for free was the main benefit and any cSh flow was icing on the cake. Was just unsure and wanted the reassurance of some seasoned professionals. Thanks for taking time out of your day to reply everyone! It was greatly appreciated

I’m trying to buy my first duplex using a fha 203k. Already pre qualified. As I look for properties I can come close to cash flowing usually just able to cover my mortgage but nothing much more. Is that normal or is it just a bad deal?