All Forum Posts by: Stephanie Bureau

FHA. My lender is having me put 5% down.

The comps are kind of all over the place from 99,500 to 165,000 with $45-55/sqft. All utilities would be split between the tenants. 

I haven't gotten an inspection done yet, but everything looked ok structure-wise when I walked through. It's mainly cosmetic stuff. Some drywall is off the pipes in the shower that needs to be replaced. The hardwood floors are scratched up and need to be redone. The windows are old wooden windows that I would replace. The inside needs repainted. There's still painters tape in one bedroom, but it looks like that's as far as they got. The outside looks great, but the inside looks like they haven't changed too much since they built it in the 40s. We decided to do ductless a/c because it cheaper and we don't have to put a central a/c in each unit. 

We can get it rentable for cheaper (floors, drywall and paint), but I'd like to attract a nicer tenant (and hopefully higher rents). I was planning on slowly doing the renovations as I get the money.

I'm looking at this duplex in San Antonio, Tx. They countered with a higher amount so I thought I'd have new eyes look at it. I'm really wanting my first property so I don't want to make a mistake in my eagerness. 

Rent: 1/1-$700

2/1 - $500 per bedroom

Offer: 110k

P&I: $498

Taxes: $247.75

PMI: $75

Insurance: $59

Vacancy: $153 (9%)

Repairs: $85 (5%)

Capex: $170 (10%)

Management(self): $170 (10%)

Operating Expenses: $1457.75

Cashflow: $242.25

I would be getting $100/side and after I get to 20% on my loan I'll have another $75/month when the pmi drops off. The only other thing is that it needs about 20-30k in repairs. Nothing is so bad its inhabitable but new windows, redo the hardwood floors, some drywall need to be repaired, paint and we were thinking of putting in ductless a/c since it only has window units. 

Thoughts?

There's good cash flow in SA. Granted its kind of hard to find on the mls but through wholesalers you can find good deals

We're having our first meeting this month. We're going to talk about what we want to get out of this group and see how this group can benefit everyone. Since this is a new group I really want to see what the best way this group can serve women investors so bring lots of ideas and we'll have a great discussion.

My number is 210-763-8554 if you help finding is or have any questions.

I like mint for determining net worth and see where I'm spending money and to see if there's any weird transactions. It's not that good for budgeting. I use a excel spreadsheet for my budget and its flexible enough for what I need.

I'm looking into buying a duplex (possible triplex) for under 120k in or around San Antonio, Texas. I'm not sure how far I am willing to go out (radius wise), but New Braunfels and Bourne definitely aren't out of the question. Basically I'm not strictly ties to San Antonio or Bexar county by any means.

He had messaged me too, so thanks for posting! Thankfully I will be more careful as I try to find a pml.

All SFRs. Might get into small self managabele apartment complexes in the next couple years, but for now just single units. 

I'm looking for a private money lender for buying rental properties in San Antonio, Texas. Looking at properties under 100k (mostly in the 50-70k range depending on area and amount of rehab).