All Forum Posts by: Joseph Cacciapaglia

Quote from @Steven Natera:

Quote from @Joseph Cacciapaglia:

@Gabriel H. Gaytan I've found short-term rentals to be the most profitable here in San Antonio over the past couple of years. I've also recently started flipping vacant lots. It's tough to make traditional rentals work with the recent increases in pricing. I have a few clients that buy small multifamily, but they're happy with minimal cash flow. Ground up development seems to be a good strategy now as well. I almost finished with my first new home build. It was pretty challenging, but the end result should be pretty profitable.

@Joseph Cacciapaglia What's the best way to learn more about ground up development investing in San Antonio. I've wondered so much about this for SA but everyone always says new builds are not good investment strategies. If you're doing well then I would love to learn more!

There is a big difference between buying a new build from a builder, which typically isn't a great investment strategy (with some exceptions), and buying land and hiring a contractor to build a property for you, which can be profitable. I'm not sure there are a lot of resources to learn the latter strategy. I just bought a piece of land and started looking for contractors. I made several mistakes along the way, and I'm currently on my third contractor, but it seems to be a profitable strategy. The downside for me is that it's very time consuming, and I'm not great at managing contractors.

@Ely Rojas I'm both an investor and agent here in San Antonio. I'd be happy to discuss either or both.

@Allen Wu a few of my clients have purchased investment properties in that neighborhood in the last few years, and we also manage several in that area. If you've found one that cash flows there, I'd suggest buying immediately. It's tough to find deals with the proper rent to price ratio at the moment. I would suggest that you take a hard look at your rental comps. There is a pretty wide range of property sizes and configurations. With some of the smaller homes in that area, it's easy to be fooled by the market rents.

@Kyler Dabolt you won't typically find 1% homes in the parts of town you would like to live. However, because of the strong rent growth and appreciation, those areas still tend to perform well as long term investments. Tons of out of state investors continue to buy in that area, despite the lower year-1 cash flow, because of the strong expectation of continued growth. 

If you're someone that absolutely needs the cash flow, rather than just a great overall return, then short-term rentals are probably your best bet in San Antonio at the moment at the moment. It's relatively easy to find deals that surpass the 1% rule as an STR.

@Gabriel H. Gaytan I've found short-term rentals to be the most profitable here in San Antonio over the past couple of years. I've also recently started flipping vacant lots. It's tough to make traditional rentals work with the recent increases in pricing. I have a few clients that buy small multifamily, but they're happy with minimal cash flow. Ground up development seems to be a good strategy now as well. I almost finished with my first new home build. It was pretty challenging, but the end result should be pretty profitable.

Originally posted by @Zachary Harris:

Hey Heath,

I think @Joseph Cacciapaglia at Birdy Properties might do this here in SA. 
-Z

 Thanks for the mention. I'd be happy to help.

This is who I use: https://www.fredflorescpa.com/ here in San Antonio. I have somewhat complicated returns with business income, rental properties, and multiple entities. He is reasonably priced and seems to know his stuff.

I have different accounts for each property, but only because they're separate entities. Before I started a series LLC, I always just ran them all through my personal checking account. I use Crockett National Bank here in San Antonio, and they make it easy to view several different business accounts all with a single log in. I've noticed that seems to be a challenge for some banks.

Originally posted by @Josue Vargas:

Reading from the above, is there a San Antonio within Denver?  

San Antonio in TX has grown and still growing so much, a lot of Denver, California, Washington, and Oregon car plates seen around.  Wonder why... 

There are a lot of new construction for multifamily all around San Antonio.  South and southeast are kind of revitalizing (similar to Austin).  North side is established as a desirable area, and still growing so much as well, a lot of highway expansion is happening along 1604, 281, I-10, etc.  A lot of empty land and lots for sale, both commercial and residential.  Good luck.  

 Denver Heights is a neighborhood in San Antonio, TX. Maybe you were you just joking, and I missed it. In any case, it's a neighborhood I'm investing in as well.

@Stefan D. this is a good question for your lender. Whenever you're doing a BRRRR, you want to know who your refinance lender is before you purchase the property. In general, financing a property that's noncompliant can be problematic. I'm not in your market though, so take that for what it's worth.