All Forum Posts by: Will Pritchett

I understand it just slightly different, as max offer= (.70 ARV) - estimated repair costs. Minor difference but could be significant if repair costs were high. Not to say my interpretation is correct. Maybe others will chime in.

Hey John, Welcome. I am also in San Antonio. I don't know of that company but I know there are turn-key providers out there. I invest locally and don't feel that management takes that much time. Granted I only have two rentals so far. Most repairs only require a phone call to my handyman. I am capable of many of the fixes but my time off is too important to me when I can pay a small amount for someone to do it quicker and be grateful for the work. This advice and most of what I know came from bigger pockets. I read the posts from my phone whenever I have down time. Keep learning here and feel free to ask questions. Good luck!

I set aside a certain amount each paycheck and add it to the cash flow to go toward number three rental. Worked to get me to number two pretty quickly. Also like the idea of not trying to pay down the notes yet. Maybe when I have all I want to purchase. I want these low interest rate loans while they last. Keep at it and squeeze your budget. The snowball will gain momentum. Good luck.

Welcome sir. Getting started with buy and holds ourselves here in San Antonio. I also graduated from UTSA with a business management degree. I can't make the meetup on the 12th due to work but I think it is a great idea. I have attended Alamo reia but no others yet. Have you been to any of them? Best of luck with your investing.

Welcome sir. Getting started with buy and holds ourselves here in San Antonio. I also graduated from UTSA with a business management degree. I can't make the meetup on the 12th due to work but I think it is a great idea. I have attended Alamo reia but no others yet. Have you been to any of them? Best of luck with your investing.

Don't know any private lenders. I think you might try conventional with your credit and investments. Worth a try. SWBC seemed pretty investor friendly locally but I haven't done a loan with them yet. Good luck.

Not my favorite area of town. I agree that it isn't going to attract military. I would go there if I managed it but wouldn't send my wife there. If you buy it, buy it CHEAP! Not an area I would expect appreciation. This is all said without knowing your strategy. I am not judging but I like a little nicer properties that are still blue collar. Some do great with these types of homes I am sure. My knowledge is as a firefighter/paramedic more than as an investor, FYI. Good luck.

Keep credit clean and do what you can to build it. Reduce consumer debt. If difficult, Dave Ramsey's program helped me a lot. Then save some money for a down payment and get a job with income you can show. Then keep good records of units rented as banks look for two years of Landlording experience before they count rental income toward your debt to income. Keep contracts to show lender your experience. Instead if cashing out you could rent out your unit in two years and get owner occupied financing on another one (lower down payment) and move Into that one. To get cash out you will need significant equity. That may take a while if you aren't putting down a huge down payment. Unless you can force appreciation somehow. Just a few ideas. Good luck, Will

I like this idea when i am short on time. Unless, of course, there is a tenant living there. Wouldn't want to risk their belongings. I definitely see the value of this for vacant properties. I recently began scheduling all viewings on one or two days in the week within a window of an hour or so. Usually staggered at 15 minute intervals. Anyone that can't make the time window has helped me screen them out. I always hope to rent the home and only have three days of vacancy for cleaning and re-keying so I start showings 30 days before lease is up. That would mean I wouldn't normally use this method. I only have two rentals (so far) but I recently got them on schedule to renew in the same month. My thinking is that only one month will I be running around to showings and answering calls etc. this may not be the most scalable method but when I have 20 homes I will figure out how to handle that "problem". Thanks for starting an interesting thread here.

@Stan Hill type the "@" symbol and begin the person's name and it should bring up a list of options. Then the person will be notified of their name being mentioned. 

Also, does anyone know if RBFCU does 30 yr. fixed in investment property?  Last I asked they only did 15yr. notes for rentals. 

Thanks,

Will