All Forum Posts by: Arissa Pedroza

When  I rehab a property, I use a hard money lender to provide the funds for the purchase And the rehab. In some cases if the deal is really good, the majority of the funds will be covered. But you will need to have money to make the interest payments each month, pay  Utilities and such. In addition the hard money lender requires somewhere between 2 and 4 points at closing. You have to look at the points as being a percentage of the total loan which would include the purchase price and the rehab. Most cases I will usually require about 15K to finish the project and then get an equity partner for that 15K. I provide the acquisition and the contractors and oversee the whole project. In order to attract a gap funder you need to bring something to the table. You need to find houses generally with a 100k spread and and an arv of 150k to 250k.

Arissa

I agree with Sharon - San Antonio is a great market for BOTH strategies. If you can, you should buy a 4 plex using FHA financing for 3.5% down and live in one unit and rent the rest out to create cash flow. I dont really think a 'slow' flip is the best use of time and money though. SFH in San Antonio are also great cash flows. I know of a house for sale for $108k and it is getting $1350.mo in rents. SA is great for investing right now!

Welcome!  I lived in Cibolo when I first moved back, its a great community.  I am a local investor, wholesaler and realtor and flip houses as well as buy cash flow.  San Antonio is an excellent market for any strategy!  My advice would be to attend the local meetups and network, network, network,  The best place to go is meetups.com and put in real estate investing.  I find that the majority of investors here are amazing to work with  and super friendly and helpful.  

haha @mark quite possibly! I would love to work with you

This was posted in the San Antonio thread, so not sure if that was a mistake or not.  If you are questioning about San Antonio, you should find someone local who purchases cashflow themselves and a reliable PM company. I can recommend some if you PM me :)  SA is a great market for cash flow properties and all of mine are here in town.

Congrats!  San Antonio is an excellent market!  Like Rick suggested, you should start getting involved in some networking groups. You should start in meetup.com and see which real estate groups you would like to attend. The one thing I can say about San Antonio is the vast majority of investors here are super helpful and friendly and we all like to help eachother :)

San Antonio is an area that you don't really need to go by the 1% rule.  I find MANY properties that ash flow at least $500 in your pocket and that includes all expenses, including the mortgage and taxes.  I won't even touch a property that doesn't give me $500 a month cash flow.  I always keep a mortgage on my properties not only for the deduction but when it gets paid down enough, I can cash our re fi and buy more.  I am licensed and a wholesaler so if you would like me to add you to my buyers list, let me know.  I have worked in Property Management since 1999 so I understand the market and what investors need :)

Arissa

Hello from San Antonio!  I am an investor, I filp homes and I own cash flow properties as well as being an investor friendly REALTOR!  I am in the game and know where to find the properties.  Right now San Antonio is an excellent market and I am finding my clients at least a 10% cap rate and that includes mortgage, taxes, all expenses.  I am also a wholesaler so I have access to many off market homes.  I am also working with a builder who is building container homes for 70$ a SF INCLUDING the lot!

Yes any easements would have been recorded through the clerk. Google the county  name and clerk's office. You should be able to look up both House address  and see if there are any documents tied to it. A local title company can assist with this if you can't find any information. As far as the current owner of the neighbor's house you might want to contact that bank or mortgage company and talk to somebody in the Foreclosure Department

Sounds good! Keep me posted.