All Forum Posts by: Ryan Young

@Bill Sargeson

Good luck Bill.  I look forward to following along with your flip diary.

Here in Bexar County (San Antonio, TX), the annual property tax statements went out at the beginning of May. 

For my personal residence, the value on the home increased $21,000, which equates to approximately $42 per month extra per month in property taxes.  This happened pretty much all across Bexar County.

But my question is for the buy-hold investors in Bexar County and even other higher property tax areas.  A $42 increase in monthly expenses can significantly effect cash flow on rental properties.  

Do you do everything you can and create elaborate dispute cases against the value or will you just simply pass the increase onto the tenant during the next lease?  What if you lose the appraisal dispute and have 9 months left on the lease?  You have no choice but to eat it, right?

Just curious what everyone would do for this.

Come on down to San Antonio! I love this city!

While the income tax is 0% the property taxes are much higher which will eat into your cash flow. Have to make sure you get the accurate taxes and factor that in. 

All your other points are accurate. 

Good luck in your pursuits!

I plan on attending next Tuesday, looking forward to it.  This will be my first discussion group and I am a newbie so there are hundreds of topics I would like to discuss.  Since we can't discuss them all in one setting, the main topic for me right now is finding a property to buy, renovate and resell.  What is working for investors in San Antonio right now to find the best deals?  Driving for dollars?  PPC campaigns?  Craigslist?  Wholesalers?  Anything else?  

I look forward to meeting everyone!

@Caroline Egbert

Welcome to San Antonio. When you get up and running maybe we can bounce ideas around; what's working, what's not. Join a couple of the REIA's around town and ask the pros on BP!

Good luck!

@Victor Maas I saw this on the SAREIA website last week and will be attending this in a few weeks.  Thank you for the 25% off code.  I am also interested in joining SAREIA as well and will be trying to attend the next meeting.

Interesting article on the front page of the San Antonio Express News this past Sunday about a local real estate "investing" company that gives a bad name to all investors.

It's a long article, but if you get a chance you should read it. It's quite interesting to see how they operate. No doubt this probably goes on all across the country. I'm curious to see what the real professionals here on BP think about it.

http://www.expressnews.com/business/local/article/Homeowners-loss-is-firm-s-gain-4832738.php#/0

I am going to coat-tail off what Matt and Jon said. I have always been taught that you don't use the income approach unless it's multifamily, maybe 5 units or more. If it's anything less than you always use CMA approach. What type of property is it?

Hi Shawn. Are you looking at only doing deals in Boerne or are you going to expand out to San Antonio? My parents live in Boerne and I've always been quite curious to know how the wholesaling and flip market fare in Boerne. Any insights?

I have taken 5 classes with Champions School of Real Estate. They might be the largest in Texas if I'm not mistaken. I believe they have offices in every large city and offer lots of online and at-home study classes as well.