All Forum Posts by: Keaton Wright

Giving quality and sometimes very detailed answers in the forum takes us quite a bit of time (and therefore money) for which we're not remunerated. Like for most others, this is part of the contribution bucket of my life and, by answering in the forum, I can help multiple readers at the same time.

Unfortunately, that limits the time I have to give free advice through other channels but I've done it multiple times when I could. Especially if responding to your questions doesn't take much of my time, feel free to send me a DM and I'll gladly reply without asking you for anything, which I'd have done even if you hadn't asked for free advice.

This being said, I feel the need to warn you against wanting free advice or free anything else, especially when investing in a foreign country. While the usual saying "you get what you pay for" obviously applies, I'm flabbergasted that people are ready to invest hundreds of thousands of dollars in a foreign country but have an issue paying a likely small amount in relation to that to make sure they don't end up making a bad investment.

Hope this

Listen, I didn’t mean to strike a nerve. I thought you were an investor giving another investor advice or just a networking opportunity for that that matter. I own multiple properties in the Caribbean and not a stranger to foreign deals and owning foreign assets. I’m flabbergasted that any one would invest without networking on sites like this or doing research, hence why I’m doing it

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Quote from @Mike Lambert:

Hi Melissa, sure. I know that market very well but it would be easier to help you if you have more precise questions and also if we know what your objectives are. Feel free to DM me if you rather not share those publicly.

Mike, if you’re still passing out free advice on the Cabo market, I’d love to ask some questions about buying a unit in San Jose Del Cabo

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Quote from @Justin Brickman:

I like options 1 or 2, if you don't feel that being a landwork isn't too difficult of a process. You have more potential to gain equity through appreciation with multiple homes than one commercial property. I think commercial is great if you can find the right deal, but it can also be a pain in the *** just like single family.

I think you’re right.

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San Antonio, Texas

So I’ve been stuck for a couple years going back and forth. Any advice or where to go?

In 2018, along the Texas gulf coast, I purchased a group of (4) homes next to each other via owner finance.

The sell price was:

$246,500

Down payment was:

$40,000

Mortgage is 15 years @. 7.5% still owe about $150k and considering a refi with actual bank in a couple months

These houses need work:

1st house-$100k value is a 1/1 doesn’t need much rehab at all. Brings $1100 in rent

2nd house-$60k value is a 2/1, needs $40k in renovation. Was bringing $600 due to the work it needed but it will bring $1200 in rent once renovation is complete

3rd house-$125k value 2/1 with separated apartment. needs $20k in renovation after the last tenant left and in the process of now. Brings $1200 a month in current condition. Plan to raise to $1350

4th house (corner lot)-$175k 2/1. Will need $10k in renovation and renew after tenant leaves. (Plan to repaint outside) Brings $1100 a month

When I had 100% occupancy, it brought $4000. I had it 100% occupied most years. The market I’m in is great for renters (but the quality of renters can make you pay attention to their applications)

I’m rehabbing the 3rd house now, plan to remodel the 2nd house after I’m complete and then unsure if I should:

-obtain traditional mortgage then should I cash out refi and find more property?

-Sell one of the homes and clear the mortgage (throwing in personal money) and continue to rent as normal

-Sell all properties 1031 exchange using as a down payment and go after a commercial deal (8% cap or better)

I’m leaning towards the last because as I advance with my career, it takes up more of my time. But I feel like the extra leg work in being a landlord isn’t that bad because the process is pretty simple. But it can be a pain in the *** at the wrong time

I’ll hang up and listen.

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San Antonio, Texas

All Forum Posts by: Keaton Wright

Keaton Wright has started 1 posts and replied 4 times.

Post: STR in Cabo San Lucas

Post: STR in Cabo San Lucas

Post: Keep Renting, Refi or Flip

Post: Keep Renting, Refi or Flip