All Forum Posts by: Loren Polito

Looking at multifamily properties in San Antonio, TX. Looking to connect with brokers/ home inspectors in the San Antonio area that can help and be boots on the ground as I am out of state.

Thanks!

I need help with my first multiunit property. I am under contract and hoping to get some guidance.

Price is $490k in San Antonio, TX. It is furnished turnkey and looks as if it was planned for STR. However, the seller says he never did STR. The property is zoned as a SFH, but in reality it is a duplex with 1/1 on each side.

My lender did an appraisal for the property as a duplex and it came at $497k. However, they requested to do a second appraisal because it was actually zoned as a SFH. The second appraisal is in the process.

The seller yesterday asked me for a signed letter acknowledging I know it is a SFH. Which raised some red flags for me.

My concern is I don't know the real reason why the seller is selling the property. Him asking for a signed letter might be to cover himself against anything in the future. He had listed the property as SFH AND Multifamily on the MLS.

My question is would this cause a problem for me if it is zoned as SFH. Can I still househack it as either STR or MTR?

Is it difficult to get it zoned as duplex later? 

I don't want to be stuck with a massive payment because I can't househack.

Thank you in advance for your time

Hello,

I am an active investor and developer based out of California and looking to acquire existing multifamily in the San Antonio market. Does anyone have a recommendation for a highly talented broker with 10+ years experience in the SA market? 

Thanks,

Seth Hamilton

Streetlamp Properties

My clients are looking for an SFR for a STR. Do you work with STR investors?

I have a client that's looking for a great buyer's agent in San Antonio. Any recommendations? 

 Hi Loren, 

Thanks for reaching out, much appreciated.  That would be great if you could send something over.  My business partner and I are new investors and small multifamily certainly could peak our interest.  Our email is [email protected]. 

Perhaps we could set up some time to chat soon. 

Best regards, 

Matt

I am looking to invest in my first turnkey property. I have a competitive advantage in Texas, so I would like to invest in that state. I’m not concerned with making the most money out of my first investment, but rather getting it done and finding a good area to start building my portfolio. I also don’t mind having to do cosmetic renovations, but nothing major. Any advice would be greatly appreciated.

Hi everyone, I'm in California and interested in learning about the Texas market. I'm an experience construction project manager with fix and flips looking to do my first personal deal within the next few months. 

I've connected with an agent who is sending deals in Seguin, San Antonio, Pleasanton, and Universal City. What are your thoughts on these areas? Do you have connections with GC's, vendors, etc? Let's connect and/or please share your experiences!

Hey there!

New investor looking into market data and trends of the Texas hill country, while beautiful there are a lot of small markets that really aren't more than 30 mins from each other in almost a triangle. You have New Braunfels, Canyon Lake, Wimberley and much more muddled in between those listed. New Braunfels is definitely the most appealing but very much a stringent market for STR, although i did hear that there is a lawsuit in the 5th circuit pending a decision that may change the STR market in a major way. Is it better to search through Austin or San Antonio forums? This area is definitely in the middle of those and close to San Marcos. While I'm aware this isn't quite "untapped" territory it could rise like a rocket ship over the next 10 years looking at the trends that Austin/San Antonio could turn into a major Metroplex to the likes of Dallas/Ft Worth. Any and all info and data would be appreciated. I prefer the smaller market that's a drivable getaway from the big cities. Thank you in advance.