All Forum Posts by: Account Closed

@Jason Hirko,

How did your section 8 properties pan out? Do you still own any in San Antonio and do you self manage? I know some HUD markets are better than others. How does SA stack up?

Wow. Thanks for making that simple!

Say I go with a traditional mortgage on a duplex/triplex/fourplex, force some equity, then refinance. What are (or where can I find) the regulations that govern refinancing? I think FHA loans require that the borrower wait like 6 months-1 year or something? Am I wrong about this. Are there similar rules regarding traditional mortgages?

@Steven Loveless, 

From everything I am reading and from the responses to this post this seem the best way to go. I am shooting for a fourplex or possibly something with an accessory structure. The former are pretty rare in San Antonio as far as I can tell...

What do you mean by forcing equity?  

That sounds great... noe where to find that property??

@Mike Garland 

I would prefer to not touch that nest egg as well. It is how ever a good confidence builder...

Kyle, 

If it is zoned (as many houses in older San Antonio are) for an Accessory Dwelling Unit then yes they can. All of those neighborhoods allow that type of zoning. Its just a matter of checking. Alamo Heights is an incorporated city and may have separate development regulations. You can read their Unified Development Code online i'm sure. But if I had to guess I would say they are allowed. Properties that are not zoned that way would have to be rezoned and I guarantee you Olmos and Alamo would shut that down in a second. 

I think they could still rent out that space without it technically being a "rental unit". It's a legal description that can be worked around, thus the name "hacking".

Hope that helps!

Kristina,

What is the scope of the work? Are you looking for a general contractor or individual subs to manage yourself? 

Thanks guys!

How's the market right now for y'all? What are rent vs. overhead cost like in SA these days? What about flip margins?

I work for an architectural firm that does very large commercial construction. So I am somewhat involved with commercial brokerage firms and owners and they seem to be doing well these days. I am wondering if its the same for small residential...

So I just inherited a good chunk of change and I want to get into real estate. My brothers (who got the same amount) are going the Index Fund / Stock Market route. I will do some of that but after listening to some BP podcasts and doing some general Googling I feel that I can supplement my income nicely in the flip or rental game. I am 24, fresh out of college, working as an architect with a pretty solid income, so I am comfortable taking a little risk. They are always pushing people to use the forums so I just wanted to get some feed back / advice and maybe get the temperature of local markets.

A few more deets:

• I live in the San Antonio, Tx area and would like to invest locally
• I would also like to use as little of my own cash as possible IF IT MAKES THE MOST SENSE
• I've worked in construction all my life and I know how/what to do to get things done. Construction-wise at least...

I wish I had some more specific questions but I really just want to get a feel for things and maybe get the compass pointed the right way.

Thanks guys!

So I just inherited a good chunk of change and I want to get into real estate. My brothers (who got the same amount) are going the Index Fund / Stock Market route. I will do some of that but after listening to some BP podcasts and doing some general Googling I feel that I can supplement my income nicely in the flip or rental game. I am 24, fresh out of college, working as an architect with a pretty solid income, so I am comfortable taking a little risk. They are always pushing people to use the forums so I just wanted to get some feed back / advice and maybe get the temperature of local markets.

A few more deets:

• I live in the San Antonio, Tx area and would like to invest locally
• I would also like to use as little of my own cash as possible IF IT MAKES THE MOST SENSE
• I've worked in construction all my life and I know how/what to do to get things done. Construction-wise at least...

I wish I had some more specific questions but I really just want to get a feel for things and maybe get the compass pointed the right way.

Thanks guys!