All Forum Posts by: Sterling Williams

A total of 93 duplexes are being built in Buda TX, just South of Austin Texas (located within the I-35 Corridor).

The first 10 will be $360,900, the next 10 will be $362,900.

Expected rent is $1550 per side. Builder will be taking contracts on a first come first serve bases with a max of 2 duplexes per investor. The builder is upgrading to stainless steel appliances for all duplexes. 

Price:

HOA cost: Each duplex is $750 per year

taxes 2.278%

Rent $1550 per side

first 10 duplexes ready between March 15th - April 6th

Address is:

2784 FM 2001

Buda, TX 78610

Easy access to Austin as FM 2001 connects with I-35 N

Please see the link for cash flow projection, plat map, and floorplan.

Joe,

Check out Rentometer for rental comps or as stated above a knowledgeable agent. Can you get a general contractor in the apartment to get you an estimate for makereadies on the 10 units, foundation and roof repairs if needed? If you need a good contractor, let me know. Contact  PermaPier to shoot elevations, they do it at no cost and will also provide an estimate. 

Contact Jaime Sepulveda with  Strategic Property Management. He just took over managing a 40 unit property for a client of mine and manages a few of my other client's portfolios... Reach out if you have any questions regarding larger multifamily properties in the SA market. 

In that case, try Sayf Jouini with Sonora Bank, they are out of state investor friendly and offer both residential and commercial loans. A property manager I always refer is Jaime Sepulveda with strategic property management. Great guy and very knowledgeable. Good luck moving forward and reach out if you have any other questions. 

Berry-

Welcome! What type of property are you looking to purchase (single family, small multifamily 1-4 units or something larger)? The reason I ask is my answer is dependent on the property type. 

Agree with the above comments. Why not just keep the car in dad's name to keep your DTI down. I would get a credit card and connect it with a service like Debitize which will allow you to use your credit card as a debit card while keeping it paid off at the end of the month. This should help with keeping an established credit history and improving your already good credit score. 

 Ryan-

A lot of great people/resources within the BP community including the responses above who can be of great help in your journey. Reach out at any time if you have any questions. Hit me up if you would like to have coffee and discuss the local market. Good luck moving forward! 

 Nicolas,

I would get in contact with an agent who has some experience with multifamily properties. San Antonio is a competitive market and it's always good to have an agent in the trenches looking alongside with you. What area's in SA are you looking? 

Jaime Sepulveda would be a great resource for you with  Strategic Property Management.

Michael- I would first start by speaking with a lender and see what type of loan and amount you qualify for. Myself and other local agents within this forum would be happy to speak with you and get you on your way. Reach out anytime if you have any questions.