All Forum Posts by: Loren Polito

Hi. They supposed to do remodel my whole house in San Antonio Texas. After the first two draws, 21k total, he need more money to keep doing the job. The third draw was for 31k. One week after getting the money Sergio dissappear. No contact, emails or nothing like that.

In the following week I got ahold of his partner, Gerard. He kept working in the house untill after his last draw when he disappeared leaving the house completely undone.

I'm getting another contractor to finished house for me but, again, they are not contractors. They are thieves trying to take advantage of out of state investors.

Sorry to hear that….I had something similar happen to me on a flip I was doing before I was able to find solid and reliable contractors. I was lucky that I have able to recoup some of the money by hiring a good construction attorney and filing a lawsuit against the contractor and we settled. Let me know if you are thinking about going that route and I can send you the attorneys contact. She specializes in things like this.

0 Votes

San Antonio, Texas

@Endory Neves

San Antonio is a great market to invest in. Are looking at multifamily or single family properties? I invest myself in San Antonio and I am also a multifamily agent. Please let me know if you have any questions on the multifamily side or have questions about good neighborhoods to invest in throughout the San Antonio area.

0 Votes

El Paso, Texas

Quote from @Edward Zachary Samperio:

Quote from @Alex Pino:

Quote from @Edward Zachary Samperio:

I am a future investor in a multi-family property, and I was looking for some information about real estate locations and markets within Texas. I plan on financing my first purchase using my VA loan but have difficulty deciding where to buy, as I am not from Texas and not knowledgeable about the markets. I want to buy into a market where appreciation is likely and there is good cash flow now and in the future. I have my eyes aimed at San Antonio, Dallas, and Fort Worth but I was hoping to hear from what knowledgeable people within the area have to say.

Same boat as you! Moved here from Miami last December and am now trying to use my VA loan here in San Antonio for a multi family.

Have you had any issues finding good deals? I'd like to know how your search is going. Just trying to get as much information on San Antonio as possible, thanks.

Hi Edward,
Are you currently looking for something to purchase? We have a couple clients with properties they are looking to sell to 1031 into another property. Please reach out if you have any interest and I can get you some more info.
Thanks

0 Votes

San Antonio, Texas

Quote from @Ronak Shah:

Hello, I am looking for an investment property in the San Antonio area and want to know what area/zipcode to look out for.

Hi Ronak,
That really depends on how many units you are looking for and your budget or are you looking for single family. There are a few area I would say to avoid but it all depends if you are fine with an older property or are looking for something newer. I can send you a list of neighborhoods I send to clients that we think are the best strictly for investment and also areas to avoid.

1 Vote

San Antonio, Texas

@Leland French

I agree 100% with Garrett. I would take a look into the San Antonio market. I think there’s a lot more room for growth here and Texas is a very landlord friendly state unlike California. I’m originally from the Bay Area and have been investing in San Antonio for a while now. I have helped several family members and friends move their investments from California to Texas and they couldn’t be happier. It’s sad to see what has happened to California but unfortunately I think it’s just the beginning. I moved my family out to the San Antonio area and couldn’t be happier. I focus strictly on multifamily real estate out here so please let me know if you have any questions or if I can be of any assistance.

0 Votes

Quote from @Christina Murphy:

Hello All!

I have owned my primary residence for 3 years now and it has appreciated close to $100,000 since I bought it. I am interested in purchasing my first duplex to start my real estate investment journey, however I feel as though I have a very specific situation and need guidance from those who are more experienced than I. I recently put in my 2 weeks notice at a job that was absolutely horrible for my mental health, so after 2 weeks, I will no longer have a consistent income.

Maybe it's naive, but this has lit a fire under me and I see this situation as the START of my "success story". What recommendations would you give me, as to the smartest way to go about purchasing this duplex I am interested in. It's on market right outside of Austin for $445,000. Please let me know if I'm absolutely crazy or point me to a recommended outlet for advice.

Thank you for reading!

Hi Christina,
if you are looking anywhere in the Austin area I would make sure the numbers work before you do anything. It’s very hard to find anything in Austin or around that you can even break even on, if you are utilizing conventional lending. You may have a little more luck here in the San Antonio market. Prices have gone up a lot and it’s harder to find deals but the rents are rock solid and so is the appreciation. Please let me know if you have any questions on the San Antonio market or if I can be of any assistance. I am an investor myself with 20 units throughout San Antonio and a multifamily agent as well.

0 Votes

Austin, Texas

Quote from @Raul Torres:

I’m limited on using the loan only once and has to be owner occupied for at least one year.

Hi Raul,
I don’t think you will be able to find a four plex in the $300K range. If you do it will need a lot of work or be in an area that I don’t think you will want to buy in. What area of San Antonio are you currently looking in?

0 Votes

San Antonio, Texas

Quote from @Brian Flannery:

I’m in the military and recently moved to San Antonio, TX. A few years ago, I started on my real estate journey - bought a duplex, had great success with it, then life happened. Anyways, now I’m looking to kickstart my real estate investing journey again, but this time here in San Antonio and surrounding areas. I hope to establish a network here in the San Antonio and Austin areas, so if there are any investors in the area, or any meetups I may not know about, please let me know!! Thanks.

Hi Brian,
I think you are making a good decision looking back into the San Antonio market. It’s a lot more competitive these days but with the rapid growth we have seen in the past years I don’t see things slowing down anytime soon on the multifamily side. Where was your duplex located? Please let me know if I can be of any assistance or if you have any questions on the multifamily side of things. Thanks and good luck!

1 Vote

Quote from @Jeff T.:

It's been a while since I've dove into the San Antonio market, but in general is the 1% Rule still reasonable for a cash flowing rental or has that moved up or down?

Hi Jeff,
It is possible if you find a value add property and can stabilize rents and do some upgrades to get rents up but finding something turn key or finding something that meets the 1% rule right off the bat is very hard to find these days unfortunately. But there are still a bunch of mismanaged properties or properties that just need some light cosmetic work to jump the rents up, you just have to dig a little more than before.

2 Votes

San Antonio, Texas

All Forum Posts by: Loren Polito

Loren Polito has started 0 posts and replied 93 times.

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