All Forum Posts by: Rick Pozos

I have found a few properties that are located an hour or two from San Antonio. The small towns have several 1000 people. How do you find buyers in those smaller towns? We don't really want to do a rehab, we are looking to just sell as is. Do you just list the property with a realtor?

Why do people every day trade in their car for $10k to 15k less than what its worth to the new care dealer??

You dont know what people are going through and what they NEED to do. I have purchased a number of properties subject to the mortgage. They were usually in a situation that needed a quick fix. For them, that was the easiest and quickest fix.

Not many people will sell subject to the mortgage, but a few will. The hard part is finding the people who will. I usually make several offers when talking with a seller. One of them is subject to the mortgage. That is the highest offer. The cheapest is cash.

Get a job, quick!! AND THEN do all the things mentioned above. Go to RE meetings, learn more, drive for dollars, work EXTRA for a wholesaler, work EXTRA for investors. Get your 40 hr job to pay the bills and then work some more.

The beginning of real estate is not going to get you to financial freedom in a few months or probably not in a few years. BUT it is building the solid foundation for some thing big. This is definitely NOT get rich quick.

Get good at something. Whether it is construction, construction management, property management, sales, realtor, talking with wealthy people to lend you money, whatever. Have some skills that will help you in your journey.

The loan you have on the property has nothing to do with your profit or taxes that you pay when you sell. 

Hey @Isabella Johnstun I think the biggest factor is going to be the neighborhood. You are going to want to finish it out to the neighborhood. If it's a lower class neighborhood you are probably going to put in $75 ceiling fans. Higher neighborhood, maybe $300. Multiply that times faucets, cabinets, shower fixtures, flooring, etc.

Well then, it is going up again for next year when the homestead comes off. You do need to let them know that the homestead is going away.

Welcome to the forums.

There is lots of free info here and all over the place. The problem is that there is so much!! What do you do?? Flip, wholesale, landlord?? Figure out what type of investing works for you and do a bunch of it.

Welcome. San Antonio is a great place, but man is it hot in the summer!! After about 2 or 3 pm I will not see people outside of my house(with the a/c running full blast).

When you get here, get to some meetups and network with others in the city. There are tons of groups of all types of investors.

I guess I am the contrarian. I would hold it. If it breaks even, makes a little, costs a little, whatever, hold it. You will never have that low of an interest rate. You WILL make more money in the next year or two. Time will bring rents up.

Real Estate is not a 3 year game. It is a 20 or 30 year game. This is your retirement. It is like worrying that your stock portfolio only grew by 1% or lost 5% and now you want to cash it out. 

How about doing what you already did? Find a house that needs SOME work, not a ton of work and clean it up, fix it up, maybe add an ADU. You dont need the cashflow since I assume 250k is pretty darn good even for SF, AND you must be renting out the adu. Do you also have a friend that lives with you in the house paying you rent?? You could if you dont. They might pay $1,000 per month maybe more?

Syndications are a little tough right now, but I would start looking into them for the next few years. 

Meet some others locally and see what they are doing. That is the best way to get a feel for the market. What works in San Antonio, does not necessarily work in the Bay Area.