All Forum Posts by: Arissa Pedroza

I guess it also depends on whether you are looking for owner occupied/non owner occupied and if you want a SFH or a MF. If you plan on moving to SA, your best bet is to get into a BRRR with a 4 plex for 3% down and live in one of the units. I had a client get into a 4 plex for $120k and he put $40k into it and it appraised at $280k. He lived there and did a lot himself but contracted the major items. He has now moved on to flip 2 houses and with that, he will get into another 4 plex here shortly.

I prefer actual data so I use bestplaces.net.  I did a post a while back on what key indicators to look for but it uses actual stats and is really good for vetting various cities and areas.

@peterloudis yes PM me

To me, the numbers don't lie.  Use statistics and analyze the places you think you may want to invest in.  Personally, I use bestplaces.net.  I live and invest in San Antonio, so here are some key indicators I use and you can search by area, city or even neighborhood.  Using this website, look for the following indicators:

- On the landing page, look at the Median Home Price - This is where you want to be for the MAX ARV

- On the landing page, look at the population - is it increasing or decreasing?  

- On the left side of the page, under categories, you can look at the Cost of Living and compare the city to state and the national average.  For example, San Antonio has an average Median Home Sales Price of $174k compared to Texas as a state at $193k and the National Home Sales Price of $219.  This tells you that San Antonio is less expensive than most states and within the state itself

- Under the same left tab, you will see Job Market.  You will want to look at Unemployment Rate and compare it to the National Average and make sure it is BELOW it.  In addition, you will want to make sure you look at the Future Job Growth and make sure it is ABOVE the National Average.  This will be key indicators about the jobs, which is important with how the City will do for current and future work.

- Under Housing Stats, you will want to look at Home Appreciation in the last 12 months and 5 years and compare that to the National Average.  In addition, you can look at the appreciation in the last 10 years to see how the last recession impacted the area.  San Antonio was not hit very hard as the appreciation is 44% vs the National Average is 28%.  You will also want to look at Homes Owned vs Homes Vacant.  You can scroll down on Homes Vacant and it will break that number down.  Pay attention to Homes Rented and it will tell you if it is a good cash flow area if it is above the National Average. It also lets you know about the average rents based on bedrooms.

Hope this helps!

Arissa

Call Dean Abel - tell him I sent you his number.  210threeeight 0 seven 0 two three

The majority of houses I deal with are pier and beam and almost 100% of them have Foundation issues. Typically you can get it done for about $4,500 unless there is a beam involved and then it's more. When it comes to slab foundations I don't touch him  way too expensive

In San Antonio, renters make up 40% of the population and It's a good time to buy in San Antonio. Home Appreciation is up 9.0% in the last 12 month.

Source: https://www.bestplaces.net/city/texas/san_antonio

I would sell it and buy an actual cash flow property.  I live in SA and there are really good triplexes and fourplexes you can get into and cash flow about $1500 a month with everything deducted.  Also, I agree with the above post about taking a PM class and self managing. 

I have a mid size apartment community in Texas available OFF MARKET.  The unit mix is 1, 2 and 3 bedrooms.  Renovated in 2004.  Annual NET income is $939,800 for 2018.  I have the financials and Pro Forma.  The cost is $43k per unit.  Please let me know if you are interested!

@Trey Fischer It depends on what work was done.  You will always need a permit for foundation, roofing, elec rough and final, plumbing rough and final and demo.  Replacing a water heater is considered plumbing and will need a permit.  Everything else should fall under the general permit.  You can always call the City of San Antonio to confirm.  Most permits here are very inexpensive.