All Forum Posts by: Stephen Oakes

I think someone above hinted at it but doesn't the City of San Marcos have an ordinance that does not allow an active student to rent anything other than an apartment? Meaning a SFH to buy and hold and target students would not be possible unless it was outside city limits. I would investigate if someone is on this thread is actively looking in SM to invest. That being said if it's not true then I will start looking myself. (New Investor - looking for New Braunfels & San Marcos SFH's and Duplexes)

What besides using local realtors and property management companies is a good tool for evaluating what markets/neighborhoods rent comps are?

What Ricardo is saying makes sense. But in that instance, how would the title transfer work and how does the bank/lender get paid for what they are owed? Me paying them cash or getting a loan for the outstanding amount? and you are correct if they owe more than it is worth then definitely not. However after looking on the appraisal district site it says that for 2015 the AD valued the home at $142k and it has two note holders both for $71k & $71k. one of them is the folks that live in the house and the other one i have no clue. perhaps a parent. However there has been no change in title since the house was built in 2004 and the comps for the house would range it at $170k depending how they've treated it. Just trying to see where an positive option might be or if this is just a waste of time.

So during the 21 day window you can approach the seller and make an offer legally?

I have an inkling that my neighbor across the street is going through the foreclosure process. However it hasn't been listed in the consumer world and I haven't caught them in person to ask. 1.) For future reference Besides asking someone if they are being foreclosed on what is a more political tactic that can be effective? 2.) What is the process of accessing your local foreclosures early? Some sort of public record? 3.) in this case if I wanted to "save" them from the foreclosure on their credit history how could I buy it outright and offer to them directly? I feel like there is an easy tactic to be successful here depending upon their reaction. Can I offer them cash down and to pay off the loan if they sign over? If so which lending route do I take?

Wow great info Rick. I'll look into your second Wednesday dinner meetings for April. I have a lot of "how" questions to ask someone like yourself. Unless you would suggest otherwise. Thanks again for your feedback regardless.

Interesting. If you don't mind me asking where is your capital coming from to buy in NB. Personal, private lenders, or bank loans? Any good recommendations for NB based financiers?

Thank you all for the warm greetings and offers to help!

Howdy! I am an Aggie so we are more than obligated to lead with that greeting! If that hasn't told you enough about me already; I am a graduate of Texas A&M about 7 years ago and have been working in the Commerical Construction industry as a Project Manager in Dallas/Houston/San Antonio. I married my college sweetheart who is from New Braunfels and was blessed to settle down here with her. I am involved in construction sales & operations on a daily basis and have a high level of understanding on how the business operates, specifically the mechanical aspect (my specialty). However after all of the dollars and cents I look at on a daily basis this doesn't answer any of my questions or provide enough confidence in myself to immediately start investing. After numerous PodCasts I have decided that why not? I network for the construction business all the time, it only makes sense for real estate to operate the same. I realize there are endless pitfalls and lessons learned and I want to grasp as much of these as possible using Bigger Pockets. My goals: ideally I would like to own and rent 5-10 SFR's in the next 4-5 years depending upon loans, rates, cash flow etc. Secondly I would prefer these properties to be in the New Braunfels and/or San Marcos markets but after some light research it looks like my first go of it might need to be San Antonio. Any advice for these markets? Places to stay away from? Thoughts on getting a partner and creating an LLC ? Manage yourself or pay a manager? I have the resources to do rehab easily due to my industry contacts but my shortcomings are: loans, property management, leases, finding unlisted properties etc. Thanks!

Hello there! I'm new to Bigger Pockets and from New Braunfels and ready to invest in rental properties in NB. What are your thoughts on San Marcos' rental market?