All Forum Posts by: Katie Greenman

@Rachael Lyn Get connected with a very thorough home inspector.  Not sure if you have been here awhile or not , but San Antonio properties are prone to foundation issues. So if you are leaning towards updating a property it would be in your best interest to make sure there are no major issues hidden behind some paint touch ups.  It is a good idea to get your new home inspected as well.  New home incentives can be very appealing; They are not always what they seem to be though.  I have seen them offer X amount for closing costs but they inflate the interest rate to where you would need to buy it down with discount points wiping most of the savings away if not all of it.  & The service may not be as good as working with a local lender.  Now, that is not always the case and it could be in your best interest to go with their lender.  Finding out what the incentive and rate is and then talking with a few local lenders to see if they could match or beat it could help. If they can not and they tell you its a good deal then there you go!  New homes are still having major price reductions especially with Lennar.  As for the re-sale market, many of our clients are receiving major discounts off the list price as well & closing costs covered could be negotiated.  I think walking properties for both strategies, getting a feel for the areas and property themselves, and looking at your numbers will give you the best overall picture.  What part of town are you looking in?  

What @Jason Riddle said is spot on.  I was going back and forth on how to get that first investment property as well and decided to purchase a primary residence here in San Antonio to house hack.  Closed in May and have one roommate moving in the end of this month and currently looking for another.  With two roommates my note is basically covered.  Not sure of your situation but I have met a few service people at investment meet ups here in SA who have done this as well. What has you wanting to look elsewhere? Are you focusing on cash flow and cant seem to make numbers work?  Many of our investor clients have pivoted to flipping or putting larger down payments.  Have you considered buying a piece of land and then offering owner finance? If San Antonio is just not doing it for you, I would recommend Edinburg/McAllen/Harlingen/Brownsville/Mission areas (South Texas-RGV)?  Rents are not as high with what you get here in San Antonio but comparing property condition to the same list price I find the RGV will get you a property in better shape. 

Which area/city? 

Are you using a PM or planning to self manage?

Hello Prash, 

Are you looking at the duplexes on Hudson St? 

Check out these articles: https://www.ksat.com/news/loca...

https://seguintoday.com/2022/1...

https://businessfacilities.com...

https://businessfacilities.com...

Seguin is attracting many large manufacturing companies which is stimulating growth for the city.  Its location to San Antonio is extremely attractive as well.  With the current affordable housing shortage rental needs are projected to continue.  Rent growth is projected to continue as well with the demand for rentals in the area. Looking at rental stats from the mls from the last 12 months, rentals in Seguin that rented within 1395-1595 were on market for 16 days(median).  Median days on market for the Greater San Antonio region within the 1395-1595 rented range was 30 days.

Kelly Smith @ easy street capital is a great resource for hard money 

PMI Birdy Properties is a great resource for property management

GCs:

L&I General Maintenance, remodeling, and construction 

BRC Remodeling Group

I use https://gis.sanantonio.gov/DSD... a ton when it comes to looking at multi-fam. Many of our MF options do not have the legal zoning to operate as such. Which cities are you SFR in?

You can also use https://awning.com/airbnb-esti... in the mean time.  

I am in New Braunfels.  Send me a message if you would like to meet up or we can go to an event together.  

Here is the 2022 economic benchmark: https://assets.simpleviewinc.c...

Found this article to be interesting, opposite of what other agents have been telling you regarding growth: https://www.expressnews.com/ne...

New Braunfels is in between two large cities with extreme growth forecasted and even termed metroplex like the DFW area.  Downtown Austin to DT San Antonio is around 80 miles and NB is almost right in the center.  With a housing affordability crisis happening in Austin many people are looking south and finding options in the Hays and Comal counties. What other options are you considering?  

There is also the Canyon Lake area. 

New Braunfels :https://www.nbtexas.org/3448/S...

San Antonio:https://www.sanantonio.gov/DSD...

Curious to know if anyone else has come across similar situations: voluntary HOA's have community members going door to door to get an override for deed restrictions to be changed--changing the restrictions to eliminate the ability to operate a str even if not apart of an HOA. I have come across two different subdivisions one in San Antonio and the other in Canyon Lake that have experienced this. Not sure how they are handling existing operating short term rentals, but I don't think it was in the str favor.