All Forum Posts by: Rick Pozos

I am a member of a couple of large for profit type of REIAs here in San Antonio. They are both over $120 per year. While there is nothing wrong with them, I am starting a group that will meet the first Wednesday of the month that does not cost anything. The first meeting will be at Luby's Cafeteria on Fredricksburg Rd just inside 410. Come to network and eat from 6-7pm.  Meeting at 7-8pm. 

I want a non-profit group where you can ask questions and network without people trying to sell you on another course. Working together is what works for everyone.

Welcome, welcome. There is so much info here that its sometimes overwhelming!!! Investing yourself is so different from being a realtor. I was one many, many years ago. I like the investing side much better. If you need anything, just call, text or email.

Just like any business, you need a sales tax permit, you need to collect 16.75% tax from customers as if you are a hotel (because that is really what you are) and you have to be registered with the city. The San Antonio Business Development Office on Alamo and Flores has all your answers.

You are operating a business in another city. You have to know what local codes and ordinances there are specific to the municipality.

People can and will get in trouble when they dont follow the local codes.

If you dont have enough money to buy and fix, your sdira can borrow from an individual,bank, or another sdira to complete the transaction. There are many rules to follow, but definitely you can do just about anything that you can on your own.

When you go to your local real estate investor groups, ask other people who they are using. That way they can tell you who is lending and what experiences they have had.

Even with a small amount you can lend to others. If you have 10k or 15k you might be able to lend to someone you know who is in the real estate game who might need a little help to finish a project or needs a little cash for a sub-to deal. It would be a 2nd position, but if you know and trust the person then there should be no issues.

Welcome Jonathan,

There is a bunch of info here. Podcasts are great, articles are great, people are great. Connect with some people here in SA and get to know them. 

Get involved in a real estate group. Also a great way to meet others in your shoes and some that are a little farther along.

Think seriously about rolling over the$$$ when leaving an employer. If you move it to a SD plan you can always lend it to others and learn more about RE investing through them and how they rehabbed or did their deal. You can learn AND make some money at the same time.

I have changed jobs a couple of times and several months later when the money is gone, I wished I would have rolled it over.

Hi @Veronica Martinez 

Welcome, welcome, welcome. I have a few rental properties that my wife and I co-manage, well, mostly she manages. If you have any questions or issues that come up, please call, text or email anytime.

rick

In the very recent past I have bid on a few. I bid several thousand over the asking price. Did not get any.  Prices are going way higher than asking. People are bidding about 80-90% of retail price. They are usually in need of some work. Which makes them WAY over priced. If I was an agent, I would probably not want to bid on any for a buyer unless he was crazy and willing to pay almost retail and still have to put in 20% of the price for repairs. 

That is just what I have seen over here lately.