All Forum Posts by: Justin Brickman

DSCR can be a great product. However it was a very stressful transaction for me, and the underwriting process delayed my closing 45 days. I would just say be ready for some ups and downs all the way until closing because there's a lot of moving pieces until you finally get clear to close.

2 of the 5 properties have already increased $100K since purchasing in 2021. The others were purchased $20+ under appraised value while cash flowing. Not only are they doing well, but they are in prime spots of San Antonio. I know you like to pick apart comments on here, but it’s okay to ask questions before trying to sound like the smartest investor on here.

Come check out our open house at 5 Augusta on Sunday January 18th from 2:00PM-4:00PM. This residence is a beautiful property to tour, featuring 2.5 acres, an in-ground swimming pool and a spacious open layout. Reach out for more details on this amazing property in Seguin Texas.

Quote from @Brian Hughes:

@Justin Brickman A bad PM can increase liability - but a good one shields their owners by:  Avoiding any fair housing issues during the leasing process (happens more often to good meaning people than you'd think), ensuring only licensed/vetted contractors enter the property, checking work done by vendors and ensuring safety, inspecting units, the list goes on...

Yes, out of state investors can pull rates, but you know that two blocks over in converse or on the westside could mean your comps aren't comps.  Meaning (as it is in many areas) - it does take local expertise to get the rental price right - I've seen many self managers taking way under market or charging way over and wondering why their home has been on the market for months.  You can get sales prices online easier than ever too but I'm sure you would caution your clients about trusting those implicitly.

It sounds like you have worked with bad PM's in the past!  That definitely sucks but not all PM's suck!  Hopefully you'll find the right one who can be an asset to your clients and pays a referral bonus!  Message me if you'd like a rec. 

I haven't had any bad experiences because I've never used PM, but my clients tell me all the time and I hate to hear it. But getting on here and questioning investors on why they manage properties themselves isn't the best way to attract more business in my opinion. 

Love this question. I've been able to buy every 6 months for the last few years using a conventional 5% down with the same lender. However I move into the home and live in it, while adding value with cosmetic updates (flooring,paint, etc) and I also spend time furnishing it. Once it's ready to go, I put it up for midterm rental and try to keep the cycle going. Although it's worked for me, I know most people can't move homes every 6 months. But you can also get creative with financing through owner finance, subject-to, hard money, etc. 

Hey Orhi, how much are you looking to put down and pay monthly? and what are your goals with this one? (cash flow/long term appreciation/cover part/all of the mortgage, etc)

Hey Elvin welcome to the BP community! San Antonio is a great city to be in and get started. Happy to connect with you  and discuss the market because there are very good deals, whether it’s multifamily or single family. Good luck to my man! 

Congrats on the new properties!

Richard Reyes (210)-944-2123

Hey Saundra. Absolutely love your mindset and approach. Congrats on getting started at a young age as an investor and new real estate agent. 

We need many more honest and quality realtors and it looks like you’re on your way! Good luck to you and I’m here in SA as well, so don’t hesitate to reach out if you need anything or if you’d like to connect. 

I disagree with many of these points. I believe PM increases liability, and I’ve seen many investors have to spend money on repairs because of poor PM (especially when the PM company begins to grow and handle more properties)

Also, it’s not hard to pull rental rates in the area, even if you’re out of state. It’s easier than ever, if anything.