All Forum Posts by: Steven Gillmer

Welcome Will! San Antonio hasa lot of different options for investors but it does take work to find the right deals. I would reach out to several brokers and wholesalers and share your goals so they can find you properties that fit your criteria. Good luck!

Christopher, I own a duplex in Old Brooklyn and my water bill runs $51 - $70/month with both units filled. Sewer is $60 - $90/month. My insurance runs $1,560/ year, but you could get it lower depending upon your coverage amounts.

I'd be interested in hearing about anybody's experience as well.

Congrats on the first deal, it is always the hardest. I am always looking for network with peeps in SA and would love a wholesaler and/PM referral if you enjoyed working with them. PM me if you would like to share.

Welcome Cammeron and thank you for your service! I applaud your focus and determination at such a young age and only wish I had the same when I was 23. Keep moving forward and you will absolutely achieve your goals!

So...I currently live in the San Antonio area and am having issues finding deals around that $100k mark that cash flow after rehab and refinance, that is if I could ever get one. I have made several offers only to be out bid. I am sure that in ten years I would be happy with the appreciation and rent increases, but I need to be aggressive as I have limited time to build my monthly cash flow for retirement. My duplex in Old Brooklyn in Cleveland, on the other hand, flows almost $500/mo. after completing my cash out refinance and I am all in for under $70k. 

Currently, I am also questioning my strategy of targeting SFRs and 2-4 unit MFRs and am looking at 5 - 20 units. 

I guess what I am saying is if I had more time to be able to be patient and let the appreciation do it's job, I would probably go with San Antonio, but would probably target closer to $150k properties. Good luck and let us know how it turns out.

Welcome to the wonderful world of Real Estate Investing. There are several networking groups that can help you build your team and learn about the market. Good luck and let me know if you get too many deals to handle from that postcard campaign!

Welcome to San Antonio Manuel! It looks like if nothing ever goes wrong, you will sort of break even, although you will not be able to set aside any money for future capital expenses. The only reason I would keep that unit as a rental is if there was potential for consistent rent increases and property appreciation. If you could count on both, then in a few years you would be in better shape. If not, I would sell and move on, unless I planned on moving back someday and wanted to move back into that house.

Howdy Lucas! We just moved back to Texas after two years in Nolensville after three years just outside of Memphis. We love the San Antonio area, but it has been much more of a challenge to find long term rentals that cash flow to my target. I figured that when I got out of the hot Nashville market I would be able to invest locally with no problem. It is not impossible, but it takes a lot of work to find deals that generate more than a 10% cash on cash return. I recommend continuing to network because that is how you are going to find the deals.

Thanks for all the input, I was able to print up the form and mail it in.  

Follow up question: 

As I was reading the instruction booklet, it states that I need to pre-pay at least 90% of the estimated tax no later than December 15 of the current year or I could pay interest and penalties.  Has anybody done this for a CCA tax juristiction?  Seems kinda weird that they want their money before I even file my return.