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SOLD – 804 S San Eduardo Ave, San Antonio TX

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  • Address: 804 S San Eduardo Ave, San  Antonio, TX
  • Year Built: 1949
  • Description: Fixer upper, under market value 4 beds 1 bath, 816 sqft, built: 1949, lot size: .1 acres, yearly taxes: $1,200.00, estimated yearly insurance: $750,
  • Estimated Repairs: 30K, roof, central hvac, windows, plumbing, electrical, kitchen/bath update, interior/exterior finish.
  • Cash Price: $48,000
  • Exit Strategies: Rent San Antonio investment property with 30K in repairs: $1,095.00 with section 8, no need to chase the monthly payment, San Antonio Housing Authority pays direct deposit to your account.
  • Owner Finance with 30K repairs: 5k down, $995.00-$1,095.00 monthly P/I, 30 year amortization, 10% interest, Price: 99K-109k
  • Contact us for more information or to make offer.
  • Property Analysis, Sold and Rental Comps: Rental Comps 804 S San Eduardo Ave Sold Comps 804 S San Eduardo Ave

More Images of this San Antonio fixer upper:

Back Bath Bed 1 bed 2 bed 3 bed 4 Kitchen Living room

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SOLD – 804 Virginia Blvd, San Antonio, TX 78203

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    • Address: 804 Virginia Blvd, San Antonio, TX 78203
    • Year Built: 1900
    • Description: Act fast – hot market and low under market value price! Serious cash flow on this San Antonio fixer upper! San Antonio wholesale property has 3 beds 1 bath, 900 sqft, built: 1900, Lot Size: .07 acres, Yearly taxes: $1,000.00, Estimated yearly insurance $600.00,
    • Estimated Repairs: includes interior paint, plumbing up to code, /bath updates,  Max ARV: 99K.
    • Cash Price: $45,000
    • Alternate Exit Strategy: Rent with 25K in repairs: $995.00 with section 8, no need to chase the monthly payment, San Antonio Housing Authority pays direct deposit to your account.
    • Contact us for more information or to make offer.
    • Property Analysis, Sold and Rental Comps: Prop Anal 804 Virginia Blvd, Rental Comps 804 Virginia Blvd, Sold Comps 804 Virginia Blvd

More Pictures of this San Antonio fixer upper:

Back Bath Bed 1 bed 2 Kitchen Living Master bed Shower

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Should I Flip or Buy and Hold? Yes!

People often ask me as a top San Antonio property wholesaler if it is better to flip or buy and hold? My answer is an emphatic ‘yes!’ Of course, it is a complex question and which type of real estate investment strategy you are going to focus on right now depends upon many factors.

When I first started as a San Antonio investment property investor, I focused mostly of flipping San Antonio houses. There was a good reason for that: I didn’t have much money! I found $2 million worth of private money and flipped 50 houses in my first year.

Many real estate investors like to focus their careers on flipping properties because they can (in theory) get their profits quickly and have their money tied up for as little time as possible. Another benefit of flipping is that it does not have the property management and long term holding costs that buy and hold investments have.

However, I am of the strong opinion that flipping San Antonio properties should be a short-term tactical strategy…like what I did when I started my investing career. Flipping a bunch of San Antonio properties was a means to an end: so that I could buy and hold a large portfolio of rental and owner financed properties.

Flipping Is Getting Tougher in San Antonio

I talk every week to investors who simply want to flip houses all the time. Or, they want to flip 5-10 houses per year, make $10,000 each, and eventually get into buy and hold real estate.

That is a viable strategy…..sometimes. However, the San Antonio real estate market continues to go up in value in 2016, and finding under market value properties in the 50-100k range (let alone the 100k+ range) that can be flipped for significant profit ($5000 or more) is getting tough.

In fact, it is getting so tough that last week I turned away three potential investors with more than $100,000 each to invest. I do not like turning away investors with six figures to invest in San Antonio real estate, but they wanted to only do flips.

As I have pointed out, flipping is hard to do profitably in this rising market now. Also, material costs have risen significantly due to the stronger economy.

Be Flexible!

There is nothing wrong with flipping houses, just as there is nothing wrong with buying and holding real estate. My best advice to many real estate investors is this: Be flexible in your investing strategy!

Many real estate investors limit their profits and ultimate success because they get stuck on one type of investing strategy no matter the market.

Personally, I strongly believe in buy and hold long term for wealth creation, but I’ll do flips in the right market if they are profitable.

In my expert opinion, the current San Antonio real estate market is best for buying and holding real estate.

As the market here is changing, I am no longer recommending that people flip properties with me.

I am focusing mostly on buying and holding with owner finance, AND with section 8 rental property.

Why Section 8?

Section 8 gets a bad reputation in some quarters. I love Section 8! Consider:

  • You get a guaranteed electronic rental payment monthly
  • The rent is usually higher than market rates
  • The renter needs to take care of the house to keep their voucher each year
  • The GoSection8.com website makes marketing a breeze.

Naturally, I have to screen my section 8 renters carefully for work history, credit and criminal record, but I find that I can get a property rented in 4-8 weeks. Meanwhile investors can wait six months to flip a house and sell it retail.

Another benefit of buying and holding with section 8 is that you can buy the house cash, rehab it, get it occupied, and then cash out refinance the house and do another rental property. That’s a great deal!

Below is a great little under market value deal that needs only 11k in rehab, and then can be rented section 8:

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    • Address: 820 South San Manuel St., San Antonio TX
    • Year Built: 1950
    • Description: Under market value investment property, three bedroom, one bath that has 928 square feet. Beautiful home with TWO exterior storage units – this is a MAJOR selling point for the end buyer; most buyers are blue collar contractors, and they need their tools to be completely secure.
    • Max After Repair Value: $99,000.
    • Cash Price: $65,000.
    • Exit Strategy: Owner finance this out of state investment property with positive cash flow with only $10,000 in repairs completed in 30 days – $99,000, $900 per month, $5000 down, 30 year note, 10% interest. This San Antonio investment property offers passive cash flow with no maintenance.
    • Alternative Exit Strategy: Buy at $65,000, remodel $11,000, rent $1095 per month.

 

 

 

 

 

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Investing in Real Estate and Building Your Rental Portfolio

As you are thinking about investing in real estate and building your rental portfolio, you can no doubt find many wholesale property companies in San Antonio to sell you properties.

I am a San Antonio property wholesaler like others in some ways, but with me, you will find a key difference:

I built myself a large portfolio of rental investment properties (and owner financed investment properties) practically from scratch in about 5 years, from 2001 until 2006. If the person selling you properties has few to no properties, how much do they really know about what they sell?

When I first got started in San Antonio real estate investing, I did not have much capital, only about $25,000. In my first year in real estate, I did 50 houses – San Antonio flip properties.

I did that by finding $2 million in private money from a retired doctor and investor in San Antonio. He loaned me in the money in small parcels and I bought under market value $30,000 properties, rehabbed them, and flipped them for a $8000 profit, which we split.

I was able to make $100,000 in my first year in real estate investing, and I re-invested most of the profits into buy and hold rental properties.

Now I am in the position where I have a very large portfolio of buy and hold properties, and I really do not need anymore properties for myself. I like to help other small investors develop their own portfolios.

I run across many small real estate investors in California that want to build a rental property portfolio but are priced out of their current market. I specialize in helping these investors maximize their available cash so that they can buy enough rental properties so they can quit their jobs within a few years.

Here is a typical real estate investing scenario I see:

  • California investor with a good $200,000 per year job and $100,000 cash or equity cannot buy anything in CA worth having.
  • He has steady high tech employment and good credit.
  • I recommend that you buy an under market value San Antonio investment property for cash at $70,000.
  • We do $35,000 in rehab on the fixer upper property. I make it really nice – with central air, tile, lighting, granite, really make it shine.
  • We then rent it out section 8 for the investor for approximately $1295 per month – ARV is about $139,000.
  • After the house is rented, the investor from California can cash out refinance up to 80% and do another section 8 rental property.
  • If he has a line of credit on his residence, he pays himself back with the line of credit from the first investment property, and then borrows another $100,000 and does another one.

This is one of the ways that I built a portfolio of buy and hold properties after I had profits from my San Antonio flips in my first few years in real estate.

So, if you are thinking about buying San Antonio wholesale property, I recommend that you find a 10 year expert in the business who not only can sell you a property, but has experience in building a cashflowing portfolio for himself.

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Why Buying Section 8 Rental Property With Cash Is a Great Buy and Hold Strategy

The new wholesale property investor in San Antonio needs to decide if he wants to flip property or buy and hold property. My business is set up primarily to buy and hold property; for the last five years or so, I have especially focused on San Antonio buy and hold property with owner financing.

Owner financing San Antonio properties has the following advantages for the out of state property investor:

  • There are no maintenance problems as with regular buy and hold investing
  • The owner of the under market value property maintains it
  • You simply enjoy the cash flow of the investment property.
  • You help to beautify the community and put a hard working family into a home they own.

Now that is has been my bread and butter way of buying and holding real estate in San Antonio over time with 13% or so returns.

However, there are times where you may want to do buy and hold rental property in San Antonio TX. Some of the most common reasons that we see with our out of state property investors is:

  • They have a high income of $200,000 or more and they want to reduce their taxable income.
  • With rental property they are able to enjoy depreciation and tax write offs.
  • You cannot do this with owner financed property.

When I decide that I want to buy and hold rental property, one of the things that I often do is section 8 rentals. Now, some San Antonio real estate investors may recoil from Section 8 rentals, but to me, there is hardly anything better in rental properties! Section 8 is managed by the Department of Housing and Urban Development, and can be a good deal for the rental property investor. Here is why:

  • Payments are always on time and very convenient: Rents are received every month on time via direct deposit.
  • Protection from financial hardship: No more worries about your renter losing his job. Most section 8 tenants get a  voucher that covers most or all of their rent.
  • Rent is higher: In my houses, I often will get a section 8 rent for $1200 when I might have only gotten $1100 from a conventional renter.
  • Easy marketing: Section 8 uses GoSection8.com which allows me to post San Antonio rental properties and to review applicants for no cost.
  • Minimal vacancies: There is a large demand for section 8 in SA TX.

Oh, there is one other major advantage of section 8 – attention flippers in San Antonio!

Flipping houses is fine and can be profitable, but what if it does not sell? Then you have a rehabbed property and you have trouble getting your profits.

So rent it section 8! When you rent it out with section 8, after it is occupied for at least 6 months, you can do a cash out refinance on it and pull out as much as 80%! Then you can do more San Antonio rental properties. Not a bad deal, huh?

 

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What Is the Buy and Hold Real Estate Strategy?

Many real estate investors in San Antonio and elsewhere in the US debate whether they should do buy and hold property or flip property. Personally, I believe in flipping properties to build capital, and then doing buy and hold real estate investing for the long term.

To put it succinctly, the buy and hold real estate strategy is the concept of buying under market value real estate investments, fixing them up enough to get them rented or resold without overdoing it, and holding the San Antonio wholesale property for the long term and collecting the cash flow.

I generally prefer buy and hold real estate over flipping property for a long term strategy. The reason for this is that buying and holding real estate is a truly passive activity if you do it right. If you get the right tenants or owner finance buyers in the property, the wholesale property will pay you month after month and you will not have to do much to it.

On the other hand, flipping property involves constant work on rehabs and if you get caught in a downturn, many investors end up losing money, and have a property where they owe more than the property is worth.

If you are going to do buy and hold investing with San Antonio investment property, here are some quick tips to get the best cash flow:

  1. Find the right under market value property: You want to make sure that you are buying a San Antonio wholesale property that is under market value by at least 20%, in my opinion. Where many buy and hold investors lose out is by buying a property that is too expensive and the cash flow is non existent or even negative if repairs crop up. You will always end up losing money if pay too much at the closing table.
  2. Be sure the numbers on that wholesale property make sense: Cash flow is king in this strategy. You want to be certain that you will be cash flow positive after you pay all expenses each month, accounting for repairs and vacancies. On my rental properties in San Antonio, I put aside $100 per month on my $75,000  houses to make sure I have enough to pay for repairs. On my owner finance houses, the buyer maintains it and I just collect the cash flow. On my houses that are worth 75-100k rehabbed, I am making at least 1% of their value in rent, usually a bit more than that. So even with a mortgage, I would be making $300 or so in cash flow per month. I actually buy mine cash though.
  3. Screen buyers and tenants with care. You have to be certain that you take your time when you screen your tenants and buyers. I am very careful who gets into my houses. I check their employment, work history, bank statements, pay stubs, credit history and criminal record. My section 8 tenants have to be totally vetted for them to get in. And my owner finance buyers rarely have to be foreclosed upon because they have long term steady jobs.

I own many long term buy and hold properties, and I always pay under market value, never over rehab them, and I always end up with positive cash flow.

If you are thinking about investing in buy and hold real estate and have limited capital, say, $100,000 or so, one great strategy is to buy two buy and hold properties in San Antonio with 20% down conventional financing, do the repairs and then rent them out section 8.

After the house has been occupied for a year or so, you can do a cash out refi and get up to 80% of the current value, which on a 100k asset could be about 80k. Then take that money and do another rental property.  I have a large portfolio of buy and hold San Antonio properties myself, and I can show you how to build a 20 house or more portfolio that produces great cash flow. And then, if you want after 5 years, you can package up that portfolio of turnkey rental properties and sell them to a cash investor in California.

That is a great way to generate long term cash flow in rental property. Below is a property perfect for this strategy.

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    • Address: 2229 W Hermosa Dr.  San Antonio, TX 78201
    • Year Built: 1948
    • Description: Under market value property sale in hot north of downtown neighborhood, 2 beds 1 bath, 769 sqft, built: 1948, lot size: .14 acres yearly taxes: $1,200.00, estimated yearly insurance: $800.00, estimated repairs on this distressed sale.
    • Rehab Option#1: 35K, includes new HVAC, converting to 3 BR, updated kitchen, flooring, paint in/out, exterior skirt, roof, room addition, appliances, paint out door storage exterior, trash, lawn maintenance.
    • Max After Repair Value: $139,000.00 with owner financing, comps are for 3/1.
    • Rehab Option #2: 15k  with Owner Finance ONLY – AC, flooring paint in and out $109,000 ARV.
    • Cash Price: $69,900 firm.

 

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What Is a House Flipper?

If you are new real estate investor in San Antonio or anywhere else, you may be considering doing San Antonio flips to build up your cash to do more real estate deals.

As an expert San Antonio wholesale property investor for 15 years, I’ve done hundreds of rehabs and have flipped many San Antonio properties. But before I go any further, if you are new to this discussion of real estate investing:

What Is a House Flipper?

This is a type of real estate investing where you buy a property (ideally under market value) with the intention of rehabbing it to a certain degree and reselling it for a profit. The profit is gained either from an appreciation of the price due to a booming real estate market, or from the capital improvements you make.

When I flip houses in San Antonio TX, I always make sure of the following for best results:

  • I buy affordable homes from $30,000 to $75,000.
  • I buy them at least 20% under market value.
  • I do $10,000 to $30,000 in rehab, depending upon the neighborhood. It is critical to fix a San Antonio flip property enough to sell it and get maximum ARV but not to overdo it.
  • I am happy to make $8000 to $10,000 per San Antonio flip as of April 2016.

If you are researching about flipping houses you may also want to know what is the 70% rule in real estate? This is a common rule that you hear in real estate flipping. It means that you should pay 70% of the ARV of the property, minus the repairs. That is the most you can afford to pay for that under market value property.

So, if the ARV of the house is $100,000 and needs $30,000 in repairs, the 70% rule states that you should pay a maximum of about $45,000 for that property. If you overpay for the property, your chances of making much money on a flip are much less.

I do not necessarily follow this rule precisely in all cases, but yes I know the maximum I likely can pay and still make my desired profit on a flip – $8000 to $10000.

Below is a nice flip that we did with a pair of local San Antonio investors. This worked out very nicely for them. If you do not overpay for the house and do not overrehab, your profit margins in San Antonio flips can be excellent!

 

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$50,500 purchase price, $25,000 rehab, resold with $18k profit, DOM 130.

This under market value manufactured home is located near Canyon Lake, about 15 miles NE of San Antonio. It is a peaceful and beautiful part of our area. It was a distressed property sale that worked out well for the investor.

Our principal sold this property to a family of rehabbers in San Antonio for $50,500, who then did the $25,000 of rehab themselves:

  • Kitchen: $2100
  • HVAC repair: $300
  • Electric Fixtures: $900
  • Interior repair and paint: $4500
  • Exterior Repair and Paint: $3250
  • Exterior skirt: $800
  • Tree trimming: $500
  • Roof repair: $300
  • Plumbing: $500
  • New Water Heater: $2010
  • Bathroom: $1000
  • New floors: $2200
  • Dumpster: $1000
  • New Appliances: $1550
  • Rotten wood removal: $895
  • Deck repair and stain: $900
  • New mulch: $250
  • New windows: $2000
  • New Mail box: $100

Their total investment cost was $75,555, with a sold price of $99,970.

After commissions and closing, they had a profit of $18,000. Investors complimented us on providing them with a profitable first deal and accurate rehab numbers.

 

 

 

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Why Investors Who Obsess About Interest Rates and ROI Lose Money

Obviously it is important in San Antonio real estate investing to make a good return on your investment dollar. In my 15 years of investing in San Antonio investment property, I have averaged about $8000 profit on flips on under market value properties, and approximately 12% ROI on San Antonio buy and hold deals.

However, if you as an out of state property investor obsess too much on ROI, how much you will make on that flip, or the interest rate that you are paying on your borrowed capital, it can talk you out of doing profitable deals, and that is a big mistake.

In the last month, I have seen investors talk themselves out of doing profitable deals – I am talking about clearing $10,000 on a flip in particular. This under market value San Antonio property is a good example:

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    • Address: 2229 W Hermosa Dr.  San Antonio, TX 78201
    • Year Built: 1948
    • Description: Under market value property sale in hot north of downtown neighborhood, 2 beds 1 bath, 769 sqft, built: 1948, lot size: .14 acres yearly taxes: $1,200.00, estimated yearly insurance: $800.00, estimated repairs on this distressed sale.
    • Rehab Option#1: 35K, includes new HVAC, converting to 3 BR, updated kitchen, flooring, paint in/out, exterior skirt, roof, room addition, appliances, paint out door storage exterior, trash, lawn maintenance.
    • Max After Repair Value: $139,000.00 on this fixer upper with owner financing, comps are for 3/1.
    • Rehab Option #2: 15k  with Owner Finance ONLY – AC, flooring paint in and out $109,000 ARV.
    • Cash Price: $69,900 firm.

On this San Antonio flip deal, the investor will make in the area of $10,000 on a flip, or maybe $6000 or $7000 if they have to borrow hard money. Now some people think that is too little to bother with. Oh my goodness! They are so  wrong. When I first started in San Antonio real estate investing, I did 50 houses in my first year.

We’ve had investors borrow millions from private investors and they split the profits  50/50 when each project was completed. Now I only ended up making $3000 or $5000 per flip when I sold them. But I didn’t worry about such a ‘small’ amount of profit, because I made – get this – $100,000 in my first year in San Antonio wholesale property investing! And I re-invested 80% of that profit.

Let me be clear: Investors who laugh off making $5000 or $10,000 on a San Antonio flip are being foolish. True, if you only do 1 flip a year, you are not going to be able to build capital very quickly. So, you need to do at least 4 per year, or ideally, 10 or more. Then you take that $5000 or $10,000 per deal and invest it again into San Antonio flips or San  Antonio buy and holds.

I have dealt with well-meaning but short-sighted investors who actually were going to scuttle $10,000 profit flip deals because they were going to possibly have to borrow 14% rate hard money. Of course it is smart to borrow the cheapest capital that you can – ideally private money or a line of credit on a piece of property you own.

Failing that, hard money is often the only option. While it is true that you will pay high interest and fees – possibly up to $4000 per deal – why on earth would you nix doing deals if you still stand to profit? Which is better, making $6000 or making zero? I know what I’ll go with!

At the end of the day in San Antonio real estate investing, focus on your total profit, not on the interest rate and fees you are paying. If you are making $5000 on a flip, I’d be happy with it and do 10 more this year.

Update: This week we had a buyer walk away from a deal that would have made her $8000 or so because she refuses to use hard money. So, rather than make $8000, she makes nothing.

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SOLD – 2315 W Poplar St., San Antonio, TX 78207

forbes

Forbes Says San Antonio TX  Is #3 Best Place to Invest for 2016!

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Interested in building a cashflowing, affordable rental portfolio? This under market value property is a great start! We are a full service wholesale property investment firm that will guide you to build a long term portfolio of rental properties.

We recommend that cash investors do two or three of these San Antonio investment properties, rent them out section 8, and then pull cash out and do more. Contact us now.

Address: 2315 W Poplar St., San Antonio, TX 78207
Description: Excellent San Antonio investment property, booming San Antonio Market, very popular location west of downtown San Antonio, voted one of the best places to invest in Forbes Magazine,  3 beds, 2 bath, 1,200 sqft, lot size: .09 acres, estimated repairs: 35K, paint in/out, new HVAC, plumbing/electrical up to code, flooring, update kitchen/bath, new sewer line connections.
Price: $42,000 CASH;  ARV: 99K, see attached comps and photos

You have 3 exit strategy options:

  • FLIP: Retail sale of this San Antonio investment property  w/35k in repairs: ARV: 99K with FHA, VA, Conventional financing. $10,000 profit is bottom line.
  • BUY AND HOLD: Owner Finance w/35K in repairs: 5k down, $995 monthly P/I, 30 year amortization, 10% interest, Price: 99K
  • BUY AND HOLD: Rent: $995 monthly with 35K in repairs.

Notes: If you owner finance this San Antonio wholesale property, you will earn ~13-14% ROI, with no maintenance.

For More Information or to Make Offer: Please contact us.

Comps: Sold Comps 2315 Poplar St Rental Comps 2315 Poplar St

Bath Bed 2 Electric hall Living room, dining, kitchen master bath master bedroom utility room

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The Most Important Thing I Tell New San Antonio Investors Is…

I talk to many new San Antonio real estate investors every week, and I am talking to more than ever this past month. San Antonio TX is now on the radar for a lot of out of state property investors.

There are many new San Antonio wholesale property investors coming into the market every month. The reason is that San Antonio is booming.

Real estate prices are up but still affordable. The population is growing, unemployment is low, and wages continue to rise. Houses are selling quickly in the hot parts of town as well.

And while the prices are higher than two years ago, it still is very possible to make positive cash flow on under market value San Antonio properties.

If there is anything I would tell the new San Antonio real estate investor it would be this:

Don’t be greedy, and have realistic expectations!

I often talk to investors from out of state who are used to investing in more expensive areas, and earning $25,000 on a flip. Or I’ll talk to a Midwestern investor who thinks he can make 20% on a buy and hold here.

I’ve been working as a real estate investor in San Antonio real estate since 2001, and I have made many millions of dollars by making $7000 on a flip and $12% per year on a $650 per month buy and hold.

I am very happy to make those types of returns. I basically do lots of these small San Antonio investment property deals each year. Each flip makes me $7000 or $10,000, or each buy and hold makes me 11% or 12% per year, and I am fine with that.

Too many investors focus on doing a few grand slam deals each year. What they should be doing in San Antonio real estate investing is making a solid return on dozens of deals each year!

If you want to make $25,000 or $50,000 on a flip, you need to move into big projects, ones that go for $200,000 or more. And that my friends gets a lot more complicated and expensive than my little $50,000 or $60,000 San Antonio wholesale property deals.

It’s also more risky. In 2008 when the market tanked, I got stuck with a bunch of $1 million San Antonio real estate investments that were no longer worth what I paid for them. That’s what can happen when you are trying to flip expensive homes at or near market value.

Buying little under market value San Antonio houses such as mine is a lot safer. You just have to be happy making $10,000 on a flip.

I currently have several good $10,000  San Antonio flips available, and these are excellent returns that you can make a lot of money on. You should not pass on a deal because you will not make $30,000 on a flip. I advise doing at least 4 per year and making 40-50k. Then use that cash to buy San Antonio buy and hold property.

Below is an excellent 10k San Antonio flip property you should consider:

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    • Address: 820 South San Manuel St., San Antonio TX
    • Year Built: 1950
    • Description: Under market value investment property, three bedroom, one bath that has 928 square feet. Beautiful home with TWO exterior storage units – this is a MAJOR selling point for the end buyer; most buyers are blue collar contractors, and they need their tools to be completely secure.
    • Max After Repair Value: $99,000.
    • Cash Price: $69,000.
    • Exit Strategy: Owner finance this out of state investment property with positive cash flow with only $10,000 in repairs completed in 30 days – $900 per month, $5000 down, 30 year note, 10% interest. This San Antonio investment property offers passive cash flow with no maintenance.
    • Alternative Exit Strategy: $15,000 in repairs and flip/resell retail – maximum ARV is $99,000. Profit $10,000.