All Forum Posts by: Mona Shaboon

I am in the San Antonio Area. Always looking to network and do deals with investors. I am doing and Educational meeting here in San Antonio and my group is all about learning and networking. There are always new ways to do deals. We have creative financing and we mentor newbies.

Our meeting is on the first Thursday of the month.

Commercial Deal Network Group is a Focused Group on income producing commercial properties.

We are now expanding after we just merged with NSIC National Strategic Investment Corporation and we now have several investment venues including but not only Commercial and Residential and investment in anything but Bonds and Stocks.

--Mona

Originally posted by Charles Perkins:

Unfortunately a lot of investors would look for the higher cap rate and would skip a distressed property mistakingly by looking at the low cap rate thinking it is too overpriced.

Sometimes you have to look beyond the low cap rate one more step further to look for reasons that NOI was low and see if you can fix that reason then you got yourself a gem and would make fortune.

Cap rate could be artificially depressed in underperforming properties. That is why you should sometimes buy properties with six percent cap rate.

While I agree that I want to look at a properties potential, I do not want to pay for something that currently doesn't exist. If I was reasonably assured of some upside potential I might place less way weight on current negatives, but those current negative will effect the price I am willing to pay.

Would I buy an apartment with a 6 cap, maybe. In this current market though in my area it is possible to find properties that are in good locations that have better cap rates. It takes time and patience to find gems at reasonable prices.

The deal has to make sense before you consider it a deal. And yes it takes practice to find those gems. Although it is not tied to one market or another. It is on a case by case scenario. Gems can be found in bad and in good areas. Deals are everywhere as motivated sellers are everywhere.

If you study the properties' financials real good and do your homework, then you can make your decision logically after that, then you will come across a deal and something would jump right at you.

Unfortunately a lot of investors would look for the higher cap rate and would skip a distressed property mistakingly by looking at the low cap rate thinking it is too overpriced.

Sometimes you have to look beyond the low cap rate one more step further to look for reasons that NOI was low and see if you can fix that reason then you got yourself a gem and would make fortune.

Cap rate could be artificially depressed in underperforming properties. That is why you should sometimes buy properties with six percent cap rate.

Welcome to BP!~ yes it is a sea of information here.

This is one of the best sources for Investors and Real Estate Professionals to network and research and exchange information.

I am in San Antonio, TX and that is not so far from your DFW area. I am currently working in Commercial income producing properties. We deal with larger commercial size Multi family units.

--Mona

Hi Danny,

Welcome to Bigger Pockets.

I also do flips and short sales and REO's in San Antonio.

I agree with you San Antonio is and will continue to be one of the best areas for multi family and for renting in general. Real Estate is one of if not the strongest industry here.

I am sending you a request for colleague. Hope we can work sometimes on deals together.

Best,

Mona

Hey Josh, this is just a Great Tool. I will use it from now on. Many Thanks!!

Originally posted by Joey Shank:

Hey Mona!

Glad you found your way to this site! I sell investment properties in san antonio so contact me if you are interested. Good luck!

Hi Joey,

I will contact you soon. And thanks for your post...

Best of Luck to you too!!

Francisco, I am so glad that helped you. Best of Luck to you!

Michelle,

Welcome to biggerpockets.com.

This is a great place to network with Real Estate Professionals.

Staging is such an important job in selling homes faster with better prices.

I am also a certified Home Stager and I hlep some of my clients sell their homes with simple but very effective techniques on Home Staging.

It is so fascinating how little things done can make that curb appeal up front and create that atmosphere for the buyer to envision himself in that house and putting his furniture in his mind as soon as he sees the interior.

Some sellers think they can stage their own home their way until they finally give up and say okay so what do you suggest?..Then finally they say I wish I had known that before.. :)

I was wondering what type of camera do you use when taking pictures, Michelle? and how much are you chargine per home staging?

Originally posted by Darryl Dean:

Hi Mona!

Welcome to Bigger Pockets - from Austin, Texas!

Short Sales and REO's! You picked the 2 PERFECT areas to start off in, in today's market.

And WHOLESALING is what every beginner needs to do first. It brings in the FASTEST, EASIEST CASH in America!

I am a new wholesaler here in Austin.
What are you doing to EDUCATE yourself in Real Estate Investing?

Did you see my Colleague Request the other day?

Best Wishes for your success!

darryl dean

Dean,

Thaks for the welcome. Austin is an excellent are for RE now. That area is Booming...But you guys have more competition than SA. Good Luck to you.

I totally agree short sale is one of the best rewarding things along with REO's right now.

Wholesaling is kind of an intuition to me. I am reading some RE Investment books here and there and socializing with some local SA investors to learn more. I consider the learning experience as a never ending journey. No matter how much you learn you can still be in need for more. It is a constant learning world. :cool:


I had a PM from your colleague and I emailed him back with my contact information. Although he never contacted me. But I was real busy the last two days...

Originally posted by Francisco Charles:

I have a question about Texas RE... do you have to have a brokers license to become a Property Manager in TX? I'm currently taking a PM class and I'll looking forward to starting a company in the future and starting in my home state which is TX. I'm currently stationed in DC but miss my home back in San Antonio. Thx for your reply.

Francisco,

San Antonio is a very Good rental market. And TX in general is one of the best markets for rentals. Very good choice in Property mangement and I can tell you from my own experience I have worked in PM for two years and had a lot of fun, despite the hard work. Now I can manage my own properties. It is not as easy as some folks think, you just collect rent and lease the houess. It is a lot of paperwork and if you don't watch your budget and follow up with the tenants and do your due dilligent and prescreen the tenants right before you rent them, you could end up with the worst nightmare tenants from hell who will destroy your properties and run away before you know it... :idea:

Not let me answer your question:

If you are acting as an owner or principal and leasing and collecting rents then you don't need to be licensed if you are leasing or collecting rents for your own houses/properties.

However if you hired an employee who is collecting rents for you and leasing the houses she/he must be licensed. Unless it is a receptionist or secretary who is just answering phones and not discussing RE with the prospects then those administrators are not required to be licensed.

If you own multifamily units and hired a manger who lives on that site, she/he are exempt from being licensed and can collect rents and lease those units. But she/he is requred to be licensed if she/he are living far away from that site. Of course you can manage your own multifamily units on your own without a RE license.

If you are going to open a propety mangement company and you are going to put that in an entity then you have to check to see what applies to that entity regarding that.

Check this TREC Rule 535.13

[§535.13. Dispositions of Real Estate.
[Adopted January 1, 1976. Amended December
25, 1980; September 7, 1995; July 1, 1999 and
January 1, 2004; Ref: §1101.002(1)(A)(i)]
(a) Acting as a principal, a person may
purchase, sell, lease, or sublease real estate for
profit without being licensed as a real estate
broker or salesperson.
(b) Unless otherwise exempted by Texas
Occupations Code, Chapter 1101 (the Act), a
person who manages real property or collects
rentals for an owner of real property and for a
valuable consideration must be licensed if the
person also rents or leases the property for the
owner.
(c) A person must be licensed as a real estate
broker to operate a rental agency. This section
does not prohibit employment of an answering
service or unlicensed clerical or secretarial
employees identified to callers as such to confirm
information concerning the size, price and terms
of property advertised.
(d) A real estate license is not required for an
individual employed by a corporation or other
business entity for the purpose of buying, selling,
or leasing real property for the entity. An entity
is considered to be an owner if it holds record
title to the property or has an equitable title or
right acquired by contract with the record title
holder. A corporation or limited liability company
is considered to be acting as a broker and is
required to be licensed under the Act if it or its
employee receives, or expects to receive, a
valuable consideration from the record title
holder for negotiating a sale or other disposition
of the property.
(e) A real estate license is required of a
subsidiary corporation, which, for compensation,
negotiates in Texas for the sale of its parent
corporation's real property.
(f) Arranging for a person to occupy a vacant
residential property is an act requiring a real
estate license if the actor:
(1) does not own the property or lease the
property from its owner;
(2) receives a valuable consideration; and
(3) is not exempted from the requirement
of a license by the Act, §1101.005.]

Hope that answered your question and wish you the best of luck when you come back to San Antone. :D