All Forum Posts by: Will Pritchett

Welcome! You found a good site here. Check out the podcasts. We're in S.A. too.

Cynthia Vaughn welcome! This site is the best thing I have found for getting answers. Check out the podcasts. I listen in the car and they provide great motivation. We invest in San Antonio as well. My wife is an educator as well. Thank you for what you do. Read books and find your niche. Stay with it! Good books referenced in every podcast. Still trying to read them all. Good luck!!! Robert Blanchard the river walk has been expanded and is beautiful; if I do say so myself. Come back and visit!

Cynthia Vaughn welcome! This site is the best thing I have found for getting answers. Check out the podcasts. I listen in the car and they provide great motivation. We invest in San Antonio as well. My wife is an educator as well. Thank you for what you do. Read books and find your niche. Stay with it! Good books referenced in every podcast. Still trying to read them all. Good luck!!!

Or, welcome to San Antonio. I have a couple of buy and holds here. Pm me if you have questions about neighborhoods. Hope you like it here. Good luck!

I have my license but rarely carry. I am jealous of your benchmade. Fine knives.

Kyle Lokanc there are some condos around medical center that may work but I worry about condo fees and assessments that are out of my control. I prefer houses. Don't know of too many duplex or small multis where I like to buy but would be interested if I found one. Most I see are 100 year old homes that have been subdivided. I don't really want homes that old for my rentals. I have two rentals between Bandera rd and culebra inside 1604. Both cash flow and we have had really good luck with tenants. Plenty of applicants and the ability to be selective in screening. I agree with Big Henry that Indian Creek type neighborhoods can be profitable but I don't have the nerve for it. Being a firefighter and medic I have gone to many drug and violence related calls there. There are plenty of good people in these areas but I won't buy unless I feel safe sending the wife to the neighborhood. Feel free to pm if you have any questions about areas of town. I am a newish investor but I know the city pretty well from my job. Good luck!

welcome! I am in San Antonio. Feel free to reach out if you have any questions about SA. I am working on acquiring my third rental so am a bit of a newbie myself but this is a great place to learn. Good luck!

I don't know the answers to your questions but I am working on a cash-out refi on a rental right now. I was only able to find cash out up to 75% of appraised value on investment property. In your scenario, you would get your cash out to use in another investment thus making your investment in property number one zero dollars. If rents cover mortgage and expenses then you have a good deal in my book. Cash is king, they say. I know there are some holding rules as far as how long you have to hold property before a cash out. Hopefully someone more experienced will chime in. I would suggest calling some lenders. One told me that they only did full cash outs if I had four or fewer mortgages. Sometimes difficult to know which are laws and which are bank rules. Good luck.

Rosie,

     Yes, I do live in Helotes (closer to grey forest). I will have to come see your comedy show. PM me the specifics please. Also, let us know what you decide to do with the house. 

-Will

What would it rent for? I would think a 45000 dollar mtg. On a 73000 property in SA would most always cash flow. If you sold it, would you net 28,000 minus realtor fees etc? What was your initial exit strategy? What area of town? I like buy and hold myself but would consider a flip for cash. Good luck.