All Forum Posts by: Spenser Murphy

I love this site. Thanks for all the feedback.

This post will have several different questions pertaining to the aspects of the BRRRR method. I want to know what other San Antonio investors have experienced with this method. Thanks in advance.

A Rehab Costs

1) I've read you don't want to over rehab a rental property. Can anyone provide some very rough estimates for a rental rehab? Also, what things do you want to spend extra money on? I don't want future problems I can avoid with a proper rehab.

2) Any recommendations for investor friendly contractors familiar with this type of project. A quality contractor is worth their weight in gold.

B Hard Money Lenders

1) Do HML typically finance 100% of a deal or do they want 10% down? What is a typical interest rate? I've seen 10-12% 8% would be great.

2) Any recommendations for hard money lenders?

C Cash Out Refinancing

1) Is 80% of ARV typical for cash outs?

2) What is the seasoning period? I heard some lenders don't require one.

3) Any recommendations for investor friendly cash out lenders?

I need recommendations for a dependable tree service company to service my rental property. I live in San Antonio. I figured Austin investors would have better suggestions. Thanks

I agree with Rick. Online research doesn't capture everything. Being on the ground is invaluable. Do you have an idea of what markets you want to invest in? Commercial? Residential? I'd come in focused to allow for efficient use of my limited time.

Did you raise the rent by the average amount of the water bill?

I figured it didn't hurt to inquire. Thanks everyone.

I should have been clearer about the 35k (25% down). That amount would be my 25% down to get me into a modest cash flowing duplex. Are there multifamily investment programs similar to FHA (3.5% down)? I'm saving money and being patient. However, I continuously hear, read, and watch (BP podcasts) about investors who purchase their first property with outside the box financing solutions.

Obviously, for first home buyers you can go FHA or use other programs. Going FHA to purchase a duplex and living in it isn't an option for me. I need approximately 35k to get my first property. I want to make this happen, so I'm looking for all available options. Any suggestions are greatly appreciated.

SAWS will release billing information to a non-owner?

I understand the property owner pays the water bill on rentals. I'm looking to purchase a duplex or 4-plex. I need accurate utility numbers to include for my deal analysis. I know this can very depending on the size of the property. What are owners paying for water in San Antonio?