All Forum Posts by: Richard Castle

@Gene Livingston Thanks for the tip Gene! I'll be sure to check regularly into what's happening with the city planners. 

@Michael McCartney  Thanks a lot for your input Michael! Living for free is definitely one of my  goals, and this strategy seems like a great way to do it. How did you finance these two properties? 

@Russell Brazil Thanks for your input Russell. What seems to be the biggest issue when you encounter overpriced flips? Are the house flippers not comparing properties that have the same characteristics as their flip? Or are there other factors that cause them to overprice their flips?

@Corey Melkonian Hey Corey thanks for jumping in to the conversation! I planned on connecting with an investor agent in my area. I do have one question. Do you use the agent that refers you to a deal to list the property as a thank you for the lead, or is there anything that would prevent you from listing the deal yourself? 

@Aaron Montague Thanks for the tips Aaron! I've yet to decide on my niche, but the more I research the better multi-family homes are looking for long term passive income. Your criteria also seem like a good metric to set for investing in SFH or MFH. I think if I could accomplish those numbers I'd definitely be on the right track!

@Scott Sewell Thanks for the warm welcome! This place is finally starting to feel like home. You definitely helped answer some of my questions. It would appear that Texas is a non-disclosure state as well. Does your agent typically have access to past sale prices? I’ve learned how to use the county appraisal district website to mine for information, but it definitely leaves some gaps. Specifically, it shows deed history (last 3 transactions) but no sales prices. I’ve also started using my online county record search to help gather info. Thanks for the suggestion!

I don’t really feel any intimidation at this point. I actually feel excited. One of things that really drew me to real estate was the research part. I’m an info junkie and I love collecting information, running numbers and doing research. I just have to figure out my process for how to analyze properties thoroughly and efficiently. Thanks for all the great info Scott!

@Angel Cepeda Thanks for all the great suggestions! I've already started doing the first two. I've found the keyword alerts to be an awesome tool for staying up to date on local conversations. I've also been absorbing everything I can relative to real estate to build my knowledge base and determine my course of action for this industry. As far as getting involved in local groups, I'm already a member of both of Chad Clanton's Meetup groups. They seem like a great place to learn and network in a casual environment. Do you have any other recommendations for local real estate investor groups?

@Gonz Trevino That was my conclusion as well Gonz. But I haven't heard nearly as much about San Antonio as I have other cities in Texas. Everything I've seen from exploring the city seems to point towards steady growth and development. It seems like it's almost impossible to travel a few miles in any direction and not run into some type of construction. 

Right now I'm working to get familiar with the market, then determine my investing strategy. The first skills I want to develop before obtaining my license are learning how to locate and analyze properties for investment potential, and negotiating with home owners. I'm really interested in the subject gentrification mentioned by @Donald Fetzer . It seems like this type of situation could create a lot of great opportunities. Thanks for spilling the beans! :)

Thanks for your insight Eric! I had a feeling competition was probably pretty high right now. I know I'll be using assignment contracts and wholesaling, but I'm also interested in learning more about some of your strategies for working with home owners with low equity. I know I'll encounter this situation in my career, and having the proper tools to create options for sellers will greatly increase my ability to do business. Do you have any tips for someone new in the industry?

@David Dachtera Thanks for your input David! Have you found the sold prices on Zillow to be accurate?

@Nick Britton I have considered seeking an experienced agent. One question is would I be better off looking for someone who is an investor and agent? One of my potential strategies is to use conventional financing like an FHA loan and do a live in flip. I plan on purchasing an investment property within the next 12 months. Does your typical real estate agent work with investors?

Hi everyone!

My question is about analyzing properties. For those people who don't have access to the MLS, what is your favorite resource for pulling comps? How often are the sale prices accurate? I've been using Redfin and I understand these listing tell you very little about the property or the transaction process. I will be obtaining my real estate license soon, but for now I'm trying to gain as much experience possible by researching areas and analyzing potential investments, maybe even negotiating my first deal if I'm successful. Thanks!

Hey guys! 

What investment strategy are you using in San Antonio to generate cash flow? Single family, multifamily, student housing, assisted living, self storage, etc?

Hi everyone!

Is there anyone that is finding success using a wholesaling strategy in San Antonio, TX?