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All Forum Posts by: Sterling Williams

Sterling Williams has started 11 posts and replied 95 times.

Post: New investor looking for duplex or fourplex suggestion in SA

Sterling Williams
Pro Member
Posted
  • Real Estate Agent
  • San Antonio, TX
  • Posts 104
  • Votes 89
Originally posted by @Brent Washam:

I hear duplexes are hot in San Antonio right now, I bought 6, mainly during the Great Recession and prices are high now so be careful.  Have 3 others I have owned much longer.  What I have found is that there are tenants who want to live in most any area of town but there are some "rough" pocket areas to avoid, even in the middle of acceptable areas.  When prices are too good to be true there is a reason.  Also beware of "flipped" properties with outrageous price tags that people are actually paying.  There are some bubble areas in town, N. Central inner city comes to mind.  My criteria was curb appeal and freeway access, and you will have to do some sweat equity to come out financially.  Living in the property is a great way to get started.  Good luck!

 Great words of wisdom Brent! 

Post: Typical mortgage rates for San Antonio SFR properties

Sterling Williams
Pro Member
Posted
  • Real Estate Agent
  • San Antonio, TX
  • Posts 104
  • Votes 89

For sure... Reach out any anytime. 

Post: Typical mortgage rates for San Antonio SFR properties

Sterling Williams
Pro Member
Posted
  • Real Estate Agent
  • San Antonio, TX
  • Posts 104
  • Votes 89
Originally posted by @Andrew M.:

That seems high. Are they an investment focused lender? Are they trying to get you on buy-down points? I assume that if it's 30 year fixed it's a Fannie/Freddie loan. Six weeks ago I was getting 4.625% and now am getting in the range of 4.875% because I've got >6 properties. With good credit and your first rental you can do much better.

In fact, 5.5% is Wall Street prime + 1% as of today, that's in the range of a portfolio loan. PM me and I can give you the names of people I've worked with and have done well.

 Where in the World is Andrew? One of these days when you touch down in SA we should get a coffee. 

Post: Typical mortgage rates for San Antonio SFR properties

Sterling Williams
Pro Member
Posted
  • Real Estate Agent
  • San Antonio, TX
  • Posts 104
  • Votes 89
Originally posted by @Angela Liu:
A lender quoted a 5.5% interest rate for a 30 year fixed conventional (20% down) loan for a first investment property- SFR rental in San Antonio. Is this a good investment rate? Towards the typical low or high end for aforementioned terms?

If it's not great, anyone have recommendations on small local investor friendly lenders/unions/banks?

I would contact a different lender to see if you can get a better rate. Try Brooke Noth with Guild Mortgage, she's an investor herself and gets it's done! She's also a member of BP.

Post: New & Determined Young Gun From Austin, Tx

Sterling Williams
Pro Member
Posted
  • Real Estate Agent
  • San Antonio, TX
  • Posts 104
  • Votes 89

@Nick Sheveland Great attitude to have... Get out there and kill it! 

Post: New & Determined Young Gun From Austin, Tx

Sterling Williams
Pro Member
Posted
  • Real Estate Agent
  • San Antonio, TX
  • Posts 104
  • Votes 89
Originally posted by @Nick Sheveland:

Hello everyone, my name is Nick Sheveland and like most people in this section I'm new and looking to dive right into my investing career. I've been doing my homework (that never freaking ends!) on every piece of real estate investing article, blog, video, how-to, and rehab flip book etc.. I can find. It's been a few months now that I've had the itch to actually control and steer my life towards a career I can actually be proud of 50 years down the road and be glad I started when I did. Currently I work too many hours a week at a job I somewhat enjoy but don't want to do forever. Living in Austin things are expensive and as I learn more about investing I'm learning the houses are even more expensive then I had thought. I'm still learning my niche but smaller multifamily rentals, probates, and foreclosures are what most excite me for the time being. Aside from reading as much as I can I've been contacting all my real estate agent friends and brokers for helpful incite on the business. It's clearly going to be a never ending journey and as terrifying as that sounds it excites me and I find myself craving more. All that being said I would love to talk and make some new friends. I'm always open to chat so don't be shy!

I hope to see y'all out there!

-Nick

 Nick,

Take a look at the San Antonio market. We have around 6,000 + small multifamily and over 9,000 multifamily (mixed small residential and commercial). Inventory has been light, but there are still deals out there. Definitely, a seller's market right now, so be ready for some competition with any active listings on the MLS. With the affordability SA offers compared to Austin, it may be worth your drive down. Reach out anytime to discuss. Good luck moving forward!

Post: multifamily

Sterling Williams
Pro Member
Posted
  • Real Estate Agent
  • San Antonio, TX
  • Posts 104
  • Votes 89
Originally posted by @Tom Pham:

@Paul Moore can you elaborate on "commercial MultiFamily- fractionally investing in larger assets" ? I am looking to buy Class C multifamily in Texas. Where do I start in finding deals?

 Tom, 

Where about in Texas are you looking? I would suggest taking a look at the San Antonio market. We have a variety of class C value-add multifamily properties throughout the city. Dignowty, Denver Heights, Government hill and even some area around Port SA may interest you due to the recent cybersecurity, logistical support, call center, Defense and manufacturing jobs increasing in the area. 

http://www.portsanantonio.us/YIR2017.html

http://www.sanantoniomag.com/May-2017/City-Issues-A-Spotlight-on-Denver-Heights/

http://www.kens5.com/article/news/local/sa-startup-rising-barn-planning-affordable-efficient-housing-development/273-452208639

Post: San Antonio New Construction Fourplex Development

Sterling Williams
Pro Member
Posted
  • Real Estate Agent
  • San Antonio, TX
  • Posts 104
  • Votes 89

New Construction fourplex development in North San Antonio has broken ground. Each unit has 3 bedrooms, 2 bathrooms, and a 1 car garage. Expected rents are $1,250 per month. Development is located in close proximity to Randolph Air Force Base, I-35, N 410 and N 1604. There are 11 buildings total in the subdivision and at this time 2 have already pre-sold (Building 4 & 5).There is not an HOA for this subdivision.

Click the (link) and you will find supplemental information on Crestway Crossing. The specification sheets outline all the features this fourplex will include, however with this presale buyers will also receive front and backyard sod.

Reach out if you have any questions. 

# California, # Texas, # 1031 Exchange, # New Construction, # Multi-family, # Apartments, # Canada, # Seattle, # Denver, # Salt Lake City, # Austin, # Los Angeles, # San Francisco, # San Jose, # San Diego, # Sacramento, # Tacoma, # Olympia, # Vancouver, # Portland, # Houston, # Dallas, # Military Investing. 

Post: Texas Portfolio for Sale

Sterling Williams
Pro Member
Posted
  • Real Estate Agent
  • San Antonio, TX
  • Posts 104
  • Votes 89

Maggie,

Can you contact me tomorrow? 

Post: Need CPA and RS Agent in San Antonio

Sterling Williams
Pro Member
Posted
  • Real Estate Agent
  • San Antonio, TX
  • Posts 104
  • Votes 89
Originally posted by @Polo Vazquez:

Good day!

I recently got transferred to San Antonio from Kilgore Texas and I need a property to live in. I'd love to house hack a duplex or triplex if possible. I have a good w2 income and money saved up to do it I just need to find a property. I already own 2 duplexes in Edinburg Texas and will possibly begin investing in San Antonio as well but for now I just want a property to house hack. Can anyone recoment a Real State Agent in the area to help me.

Also, it is tax season and I was wondering if any of you knew any RS oriented CPA to file my taxes with.

Thanks in advance

Leopoldo,

Reach out to myself or @Tim Macy, we both specialize in multifamily in the San Antonio and the I-35 corridor area's. We have an off-market property that may match what you're looking for.