All Forum Posts by: Rick Pozos

It will always make sense for you. It does not always make sense for the seller. Sometimes the seller just does not know enough about it, so they say no. You really have to educate the seller and find out what is important to them. 

I always ask after learning more about the person and their situation. Usually they say, no I just want cash. They can get a higher price, but just paid out over several years and then a big lump sum. It happens now and then, but I would not bank on getting more than 1 deal every year or two.

@Gilberto Rodriguez 

Well...I have a group that does NOT charge and there are no things to buy, just free knowledge. We had a great speaker from one of my title companies talking about title insurance. We have a mortgage broker speaking next month and a marketing person for your business in May. Info is on my profile.

Alamo Investors charges about $200 per year. It's bigger, but they try to sell you all kinds stuff. Lots of people to network with also.

Pints and Properties, all free. Good people. Good info. I get to have my one or two beers for the month.

IN Between, all free, Good people again. It's in-between SA and Austin, hence the name. 

I am sure there are plenty more around SA, but those are the ones that I go to regularly.

Hey Gil, get out and meet some people at the meetups. Some are free and some have an annual fee. Some you will like and some are very 'pitchy' selling all kinds of classes and junk.

Meeting people in person and getting to know them and what they do will help increase your knowledge that much more.

@Michael Dyer there is so much content from the podcasts and forums for FREE. Sorry, but I would not pay for membership extras when there is so much already there without having to pay for it. If you just listen to the 1000+ podcasts of the 'real estate', 'money' and 'rookie' you would have a good base of knowledge. 

Mentioned above: Lease all the properties at a certain rate. Pay an extra 5k for the option to purchase the whole deal on 1/1/25 to 3/31/2025 at XX price. In the mean time, you are renting from the owner, but sub-leasing to the tenants that are there.

Once you purchase with the installment sale in 2025, the tax man cometh. But it is with the installment sale parameters.

Hey @Andrew B. I know it seems like everyone is flipping houses and making tons of money. I am sure that your landscaping business was not easy. Real Estate is not either. 

Personally, I would do what you do best. Start another landscaping business since you have already done this. Get some cash flow from that. THEN start to look into real estate when you have cash in the bank AND cash flow every month. Seems the safer route. Just my .02c

You probably need to find an attorney that is closer to the property. Maybe someone in the same county.There have to be attorneys in Brown County. Find one that does foreclosures. Get all your note and deed of trust together for them along with all of your notices that you have sent and how you sent them. Texas is pretty quick to foreclose and should only cost you about 2k for the attorney.

Once you take the property back, get another down payment, but make sure you qualify the buyer with an RMLO.

Hey @Dave Myers sometimes 13% to finish up a big project is what it takes. OR you leave a few of the units unfinished while completing the rest of rehab, and finish the last few with the cash flow from the rented units until the rehab is done.

You said that you dont know the highest and best use for the property?? Do you have a property under contract?? OR are you just wondering whether you should rent it out or do short term rental or something like that?

Each strategy comes with its own benefits and drawbacks. Long term does not make much money, but less work. Shorter term is much more work, but more money also.

YOU have to decide what is best for you, your working life and family situation.

I think you might need to look at the maps of traffic in the mornings for New Braunfels or San Marcos to get to Ft Sam Houston or Lackland area. There is going to be plenty of red for traffic. If you work off hours it will be 30-40min to get from New Braunfels to Ft Sam. About an hour for San Marcos. If there is heavy traffic or an accident, almost double it.