All Forum Posts by: Stone Saathoff

Hey @Alyssa Feliciano, could you give us some criteria and goals you have?

Something along the lines of, how much capital you want to put into this, what strategy you want to use, single family vs multi family, distressed value-add vs turn key properties, etc. You can get some great advice on these forums. If you haven't decided those things yet and you're purely exploring markets, I would strongly suggest investigating the San Antonio, Texas area. We have a low price of entry, diverse economy, strong appreciation, and great potential for cashflow! A lot of agents, wholesalers, and property managers for San Antonio are also very active here.

That's awesome @Kyle Varga, you're truly one of the sharpest investors on my buyers list. Takes skill to get great deals from out of state.

1. Yes

2. Comps, avg price per sq ft in the neighborhood with extremely similar houses

3. Distressed seller

4. Comps, avg price per sq ft

5. I've inspected the property thoroughly and there are not any major repair needs. had the foundation measured

6. I wasn't 100% sure on the insurance cost

7. Those are the real taxes. It was maybe a dollar off of that, left it at an even number on the report. Actual number was 2397 last year.

8. The couple buying this will be self managing. I just threw that number in as a baseline.

Actually had a showing today and the current tenant is fine paying 1000/mo with no repairs needed. Sounds like a deal to me.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

First time rental property in San Antonio, TX. How does it look on paper? Only needs cosmetic updates inside

Wow, seeing this makes me proud to operate in the San Antonio, TX market. Read your entire post and I can't think of any of those requirements not being met here. Where do you do most of your investing these days Brian?

What to respond? Tell him what you're wanting to sell at. Maybe add a little extra as others mentioned since buyers on facebook love to lowball. Seems pretty straight forward though. What was your projected ARV?

If you're investing in a property for fix & flip you can definitely get away with being somewhere around 10% down on the total project cost with a hard money lender. For rentals it's a different story and I would suggest you to consult with your bank and also a few hard money lenders if you are looking at distressed properties that need work. If you need access to any lenders in the San Antonio, TX area feel free to message or call me I work with several.

My grandparents bought several condos in Destin, FL back in the 90's before things really blew up there. Ended up being a fantastic investment for them. They used them as vacation rentals when they didn't stay there, and also a bit of a second home to vacation themselves during the off season. The appreciation has been huge. It depends on the area and what your strategy is but townhomes and condos can certainly be a viable investment.

I would recommend becoming some type of licensed real estate agent or working with an established wholesale team. I started my real estate career by joining New Western Acquisitions and the training has been phenomenal. It is my end goal to have several investment properties of my own, and to me this was and is a great place to start. I've learned a lot about investing myself by providing investment properties to others in my city and seeing their success.

@Luis Rivera It means it won't change immediately in this case. Turn on a dime means a sharp turn.