All Forum Posts by: Matthew Tyson

The gap is closing between SA and Austin. Soon, we will be a major metroplex. Although I don't see anyone who knows the area moving to SA to commute to Austin. It's brutal. 

I think San Antonio will continue to be a smart market to invest in for years to come. Historically, we are very well insulated from national market forces, although not immune. The current low(er) cost of living compared to other markets and lower entry points make it very attractive. Our military bases are spread out with JBSA having Lackland, Ft. Sam, Randolph, and Camp Bullis and knowing where those active duty personnel tend to migrate towards helps. Also, Lackland AFB, just last week opened up their graduation ceremonies to full capacity. We are talking about a graduation class of 400-600 service members every week needing STR's close to the area.

I am a local investor myself and a Realtor, if you want to bounce anything off me feel free to reach out. I won't badger you for your business. 

I'm assuming the CoC return is due to a cash sale. A lot more info is needed though. Do you want to BRRRR this property? What's the ARV? What do you estimate repairs to cost? What will be the market rent once repairs are complete? Is it tenant occupied? Are they vacating? Have you seen a rent roll?

Here is the foreclosure site for Bexar County: Bexar County Foreclosure Auction

You can also view them here: Auction Site

If you are purchasing a tax foreclosure from the Sheriff Sale, you will need to get a bidders certificate first. You can find that information here: Request for written statement form

Both the Sheriff's tax sale and Foreclosure Auction happen at the same time and I believe at this time only once per month on the first Tuesday of every month. I could be wrong about that though. Make sure you have money ready to go. 

For liens - I like to use the county clerk website. Use the advanced search function to either search the physical address or current owner: Official Records Search. 

For everything else you are going to need to get a survey or inquire if one is available. Here are the CoSA zoning designations: BASE ZONING DISTRICTS, the Lot and Dimensions Building Table, and the CoSA One-Stop Zoning Map.

Investment Info:

Other fix & flip investment.

Purchase price: $15,000
Cash invested: $17,500
Sale price: $40,000

Vacant Land on the west side. Small multifamily double lot.

What made you interested in investing in this type of deal?

Seller was listing lot for sale as one unit, although this was a double lot.

How did you find this deal and how did you negotiate it?

FSBO. I reached out to owner and negotiated price down a bit.

How did you finance this deal?

Cash

How did you add value to the deal?

Advertised lot for sale focusing on the potential to add two duplexes. Purchased new survey.

What was the outcome?

Quick turnaround with no work involved.

Lessons learned? Challenges?

Liens can be difficult to clear, but necessary for smooth transaction.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $55,000
Cash invested: $115,000
Sale price: $190,000

Purchased a 2/1 and turned into a 3/2. Complete remodel inside and out. The only part of the house we did not touch was the roof.

What made you interested in investing in this type of deal?

Great location with comps on the rise.

How did you find this deal and how did you negotiate it?

Noticed that this was an expired listing that had gone under contract multiple times. Reached out to owner and asked what the issue was. Small title problems that were easy to fix.

How did you finance this deal?

Cash.

How did you add value to the deal?

House was originally a 2/1 but I was able to add a second bathroom and third bedroom within existing footprint.

What was the outcome?

Great net profit on the sale. Was looking to BRRRR this house but was open to sale at the right price. Overall a good win.

Lessons learned? Challenges?

Biggest lesson was patience with the city and contractors. Learned to scale back my expectations in a lot of areas and compromise where needed to get project to the finish line.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Worked with a great GC, reach out for recommendations if you are in the San Antonio area.