All Forum Posts by: Will Pritchett

Welcome Larry! Great place here. Sounds like you missed out on that three property deal? This is a good place to find partners and/or advice to close on deals like that.

Good luck Sir!

0 Votes

Welcome Michael. Great place here. Stay plugged in and then take action!

0 Votes

Originally posted by @Robert Hale:

Hello everyone.

I'm new to Real Estate investing and new to San Antonio. I am an Engineering Manager for an oil company and have been in oil/gas engineering for a little over 15 years.

I am interested in multi-family investments. I've been on Bigger Pockets for about 10 days now and have spent a lot of time listening to podcasts, reading articles, e-books, webinars, etc. This is a great place to learn and get motivated.

I am VERY interested in meeting other investors and people in the business locally. I've recently found a local REIA and another investor organization that I am excited to be joining in January. If you know of any events coming up or want to grab lunch and "talk shop" I'm open for an invitation.

Excited to be here!

R. Hale

Welcome Robert! I don't know why the spikes there. We have one rental not far from there and it had been steadily climbing the last few years. I am looking for another rental currently. It can be challenging to find great deals. Keep lookin. I am going to try to make more offers this year. You never know if you don't offer! Message me if I can be of any help.

Good luck Sir!

0 Votes

Originally posted by @Naomi Makua:

I specialize in apartment locating for the Dallas, Austin, San Antonio, and Houston Texas markets. I have over 10 years of experience with multi-family and single-family property management. I am interested in expanding my knowledge in the real estate industry to grow personally and professionally, and learn the most effective strategies for acquiring properties, exorcising best management practices to minimize for greater return on short-term and long-term real estate investments, and networking with like-minded individuals with similar goals, and share the same passion to succeed in such an exciting industry!

Welcome Naomi! I recommend listening to the podcasts if you haven't yet. Sounds like you have a lot of experience that you may be able to use to benefit the community here so don't hold back if you have some ideas to help the rest of us.

Good luck Ma'am!

0 Votes

Originally posted by @Eyan Lakhani:

Hi everyone,

I am Eyan Lakhani from San Antonio, Tx. I finished my PG in 'Strategic Management' from Toronto in 2012 and worked as a financial analyst for few months. I saw so many things around me which could have been done better thus, I decided to be an entrepreneur.

I then partnered with a European company that provides laser and IPL equipments. Things went good for a few months before the company reevaluated their expansion into US and I had to explore another venture.

I also invested in SaaS, e-commerce (consumer electronic products) and financial products (insurance). None of which was very appealing to me and then, real estate it was that brought curiosity to learn everything about it.

I am 24 looking forward to learn as much as possible about real estate (both conventional and nonconventional methods). I realize that I need a good mentor who can harness the potential in me. What is your advice on starting out colleagues ?

PS: I real previous threads for a few hours and wanted to say, everyone in this community is truly awesome and helpful.

Thank you and great year ahead
Eyan Lakhani

Hello Eyan,

Sorry to repost your entire part but can't get my tagging function to work without it. I love rental property investing. I think flipping would be great too but can't speak from experience. I recommend listening to the BP podcasts. All of them! Lots of examples of the many ways to invest in real estate. The most recent one was very good and one of the earliest ones with Karen Rittenhouse was one of my favorites. It will get you fired up. You are young so good job on getting started with your education early. I also would protect your credit and avoid consumer debt. If that is an issue at all read Dave Ramsay's Total Money Makeover. Also, most podcast guests mention Rich Dad Poor Dad as influential. If you haven't read it, do. Message me if I can be of any help. I love talking real estate and personal finance.

Good luck Sir!

0 Votes

Hey Larry,

How about getting him a tablet or smart phone and have the tenant sign the contract on it in a Google doc, then you sign. Then you can instantly email it to them then mail them a hard copy. I can't see how that would be seen as managing your property. I have had my handy man deliver keys to new tenants when I was out of town and never would think of it as property management. I could even see the selection of tenants from afar as being a great way of avoiding being accused of any breech of fair housing standards. Basically all he would need to do is open the place for showings.

Just my two cents.

Good luck sir!

0 Votes

Julian,

I am going to echo what these guys have already said. HOAs can be high and hit you with unexpected assessments. Maybe get some numbers and share them here. Are you targeting condos for budgetary reasons? I dig the house hacking idea. If you can qualify, there are some homes in the med center that are interesting and you could have roommates to help you pay the rent. Let me know if I can be of any help. We own mainly in the NW area. Good luck!

1 Vote

I had owned it several years. That is a good question though as there are some seasoning rules on some loans. Good question for a bank or mortgage broker.

0 Votes

if you have no mortgage and own it, your equity is the value of the property. I have done a cash out refinance on a rental before. I believe it was up to 75 or 80 percent of the value. I would check with some local banks. Seems like it was easier before I had four mortgages and maybe not an option after four.

Good luck

2 Votes

Originally posted by @Eric Mauricio:

Thanks for the question. I did refinance it and took out some equity. We used that money to buy a third rental and rehab it. My cash flow didn't change much but I freed up some equity to invest elsewhere.

I have been listening to @Jason Hartman on his podcasts and he has some great insight . I have had to learn to see debt differently. I recommend his podcasts in addition to the BP podcasts. He has even replied to some of my posts here. It is like an economics class crossed with a real estate podcast.

I am now refinancing my home to a 30 year note from a 15 to free up several hundred dollars per month that I can invest better.

Please let me know if I can better answer your question. Good luck sir!

-Will Pritchett

1 Vote

All Forum Posts by: Will Pritchett

Will Pritchett has started 9 posts and replied 493 times.

Post: All Around Newbie

Post: New member from Texas

Post: New Member from San Antonio

Post: Licensed Real Estate Agent, Rental Locator in Texas

Post: New member from San Antonio

Post: Unlicensed Property Manager Sign Lease As Agent For My LLC?

Post: Investing in a condo near Medical Center in San Antonio?

Post: Home Equity

Post: Home Equity

Post: Refinance for cash flow?