All Forum Posts by: Mark Lewis

Hey Frank,

This is a loaded question because it really depends on what you and your wife are seeking at this time? Cash flow or appreciation and your investing timeline. Not sure I would get offload something I own outright that may be cash flowing for something that might not be or very little. Would need more insight on what you guys are aiming to achieve. At current rates it’s hard to buy something that cash flows but you may be able to get something in a well sought after market or area that will possibly have some future upside. 

Mark 

Hey Joe, definitely interested if this comes together as well. I am in the San Antonio area. 

 Hey @Gina Huerta, this is unfortunate and I’m sorry to hear. Was this a new build when you purchased with the unawareness of what your projected taxes could be? I remember in 2018 duplexes and quads in the valley made sense because of the price point but now they don’t cash flow as certain places in America don’t at the time with the interest rates. If you aren’t missing any meals I would try to hold for the long term. Eventually rents will go up and hopefully catch up to your mortgage. Entry price is super important in the current environment we are in now. My rents rose from $1,200 in 2018 to $1,650 2023, So a 37% increase over five years. If you are at a high interest rate maybe when they come down, you can refinance so it cash flows then, or comes close to cash flowing with some appreciation.

@Rob White I invest in McAllen, TX. Anything north of Highway 83 seems to be decent. Some areas of Pharr as well as Edinburg and Mission that border close to McAllen are great. I have a solid realtor who manages for me. I will DM you her contact. 

It's actually right outside Randolph Airforce Base and depending where you are in Converse about 18 minutes from downtown. I have seen some STR's in the area but would have to analyze a bit more. I saw on a thread New Braunfels have gotten strict with their STR licenses so that is another thing to look into with San Antonio to see where those are at.

@Alice Chen I am right there with you. I live in a new subdivision in Converse, TX outside of San Antonio and noticed the two properties on both sides of me are owned by a larger company out of Florida. They have been vacant since December on the rental market. I asked the builder about STR and she said I don't think they are allowed but what you do behind your door is your business just know the risks. Thought about approaching the leasing agent for those properties to possibly arbitrage one as I am right next door but who knows. Darn if you do darn if you don't just have a back up plan and execute. Now let me go check my HOA agreement.

Hey @Agraj Sobti have you had any traction with your possible acquisition? 

I am actually looking to possibly do the same in transitioning to the New Braunfels Seguin area. I Recently purchased a SFH in Converse TX by Lennar and both of the houses to the right and left of me are for rent but have been vacant for months. I know big corporations purchased all these SFH and can afford to play the waiting game with carrying costs but I wonder are they getting a better deal when purchasing being they are probably buying in bulk because it doesn't seem like the 1% rule can work here. Me working the numbers they are breaking even if that but like I said purchase price is the determining factor.

Mark 

@Drew Sygit drops mic! You hit that spot on with PM's they are not all created equal and differ in many ways. Do your due diligence and keep it all business. 

@Agraj Sobti have you found one in the Geronimo area yet that meets your needs? Are you doing long or short term tenants? I am looking at the New Braunfels/Seguin market for some SFH opportunities.

@Brian Baker How has the Seguin market been to you so far and what strategy do you practice in that market? 

Thanks,

Mark  

Those are not bad numbers. What was your hold time on the project and how'd you find the deal? I just moved to Converse so I am going to give wholesaling a shot in the area. 

Mark 

I'm located in Converse, TX and am also looking to understand the Bexar and Comal counties. The single family market here is so inflated so the 1% rule here sucks to say the least especially if you are looking to go new build. May be a wholesalers wonderland, let's see.../