All Forum Posts by: Tanya Lechner

@Thurman Kennedy congrats on retiring and diving into real estate investing!! San Antonio is a great place to start and there are so many different strategies you could do, it's mind boggling! 

Multi-family properties in SA (that are good deals) are few and far, but duplexes and single family homes that have been turned into duplexes are easier to find. 

A great place to start is definitely the meetups - my favorite is still Alamo REIA and I've been to them all (the only one I am a member of)! Go to one of the meetings and meet some people because it's a great way to build your buyers list, find deals, financing, other ideas, etc etc! Also, check the SAREIA lunch and learn at Asian Star buffet because it's the best value in my opinion :)

Looking forward to seeing you around!!

There is a duplex further up ih10 in Boerne (78006) but nothing in 78255. It's not dense as Rick mentioned so multi units are harder to come by. The best area to find duplex/ triplexes is going to be inside loop 410 closer to downtown. 

@Kenneth Williams the Bexar county tax auction meetup is the first Tuesday after the tax auction at madhatters and the other one is also the first Tuesday of the month in the evening and the location changes but usually somewhere downtown. Rick Pozos also hosts a good one on Tuesdays but I can’t remember which one, he usually posts it here on bigger pockets!

The best way to determine if one is good for you is by going and talking to the others there. Everyone has different strategies so it’s a matter of finding the best group that will help you meet your goals :)

Permanent Foundations helped us out in the same predicament. We ended up having to get the foundation repaired before closing and they were able to invoice the title company so the sellers ended up paying for it once the loan was funded. 

http://permanentfoundationsolutions.com/ Lou is the office manager, Johnny and Nelson are the foundation guys 

It's hard to help without any details. Give some background and update your profile like @Rick Pozos mentioned. No one will take you seriously otherwise so that would be a great starting point!

Hi @Andy Webb, there are quite a few options in San Antonio and it really depends (typical answer!) on what you are trying to accomplish. Are you looking for a turn key rental or willing to put some work in? Do you want B tenants or are you good with D-? Certain areas are also appreciating better than others if you are looking for a strategic buy and hold. 

If you are basing the rents on the 1% rule, you are more than likely going to have to put some work in to get the house rental ready. A couple zips that come to mind with homes under $150k are 78247, 78233, 78217, 78218, 78239, 78244 (starting to get sketchy in that zip) and those are all northeast San Antonio. As you get closer to downtown the prices are getting higher but that's where the homes are appreciating the most currently. I hope this helps!!

Hey Brandon, have you downloaded the meetup app? It's red and white on the app store if not! I've been to quite a few different ones from there. It's definitely hit or miss but at least there are more options and the groups are smaller so you have a better chance to get to know people. A couple good ones are Bexar County Tax Auctions meetup and San Antonio Real Estate Investors' Discussion group. Maybe I'll see you at one of those!

Finding deals can be difficult in this market and @Rick Pozos is right about the power of wholesaling. The only time you are going to get a deal on the MLS is if you can get a property no one else wants for much lower than asking price. As far as cash flow, the best way to achieve at least 1% is going to be through multi units.

Getting your license wasn't a bad idea because it helps you get a feel for running comps and understanding the market better. I would make more use of it than 1 deal a year and start letting people know you can help them buy a home! Make sure you are with the right broker who your embraces your ability to invest in properties and doesn't limit it. That was the first mistake I made getting my license (joining a "retail" team) and it put me back almost a year from my investing and selling goals.

Hi Ray, what kind of lender are you looking for? Do you have a W-2 job or are you limited to something unconventional (like me!)? Also, is this for an investment or personal property? Finding a lender is a great first step and there are options! Especially if you are a first time home buyer - you can take advantage of government grants :)

Hey Brandon, I think that is a great question and would love to hear other opinions as well! From my experience, the DOM is lengthy and it's because investors are testing the market. Eventually a buyer is going to come in and pay because of the hype which, in turn, raises the values altogether. As long as this continues to happen, that area is going to continue to rise. 

Also, with the Hays Bridge project on the horizon, there is still room for growth. Once that is completed, I may worry about values stabilizing or decreasing. 919 N Pine recently sold for $313/ sq ft so I don't see it happening any time soon! The only concern I see in the market as a whole is the rise of interest rates which is going to decrease the number of buyers. Other than that, Dignowity is one of the places to be.

I love that area for investing but I'd rather find the next Dignowity HIll and hold for a while!