All Forum Posts by: Zac Celli

@Aaron Bihl,

Thanks for the response - great info! Not taken as negative at all. 

To dig a bit deeper into your 150 ARV here, assuming a 35k-40k rehab as 25k isnt enough (at an assumed $2-to-$1 ARV value add from rehab dollars), are you seeing distressed properties around 70k-80K that would work in the city?

I realize I am in danger of getting too specific here. I should have mentioned that my model does not NEED to stay with 60k/25k - with the money i have saved up, there is wiggle room to increase my basis. I am just looking to see what I would be looking at in reality in the San Antonio market if I were to pursue the BRRRR strategy there.

Thanks again!

Hey there BP Community!

I have been evaluating markets (for BRRRR) investing for the past month. I have narrowed it down to the final handful & San Antonio Texas (City not Metro) is winning in almost every category except price. The current median home price in San Antonio is ~178k which is proving to be the biggest barrier to entry.

My model is based on $85,000 basis (Assumed 60k purchase & 25k rehab), with $110,000+ ARV, & a rent to value of >.9%. I am worried about the ability the pick up distressed properties anywhere near that purchase price, in a good neighborhood, that will allow for an ARV around that value.

However, as San Antonio is 1.5M people & 465 square miles, I am hoping that there is plenty of opportunity to acquire properties at, or at least around, my model. 

Can anyone let me know if they have acquired anything for around these values, in good neighborhoods, positive cashflow, etc. in the San Antonio, TX market? Happy for any and all input! 

Thanks!