jmp – Page 17 – TexasCashFlow.com

March 10, 2016May 29, 2021

Why Our Investors Still Buy In San Antonio

I advertise a lot online and on Craig’s List to find new cash buyers out of state for our San Antonio investment properties and San Antonio turnkey properties.

I want out of state property investors to know they are dealing with a serious San Antonio real estate investor and operator in me. I know what I am doing and I have a long track record that proves it.

Sometimes, however, I get silly responses from some of my ads from negative, bitter types who don’t like my San Antonio real estate investing. Usually they are failed real estate investors, in my experience, and they’re jaded and cynical. Here’s the most common silly email I get:

Negative Type: ‘If you’re so rich, why don’t you just buy the house yourself?’

Me: ‘Bye.’

I do not waste my time debating with negative people. But here is the answer to that question: I buy houses in cash every month that I do not find a buyer for 🙂. If the contract is about to expire, I buy it cash and hold onto the property. I raise the price by $5000 and I look for another investor to sell it to. I find one eventually.

Example: This below under market value San Antonio turnkey property was for sale for $55,000:

Address: 262 Bogle St. San Antonio, TX 78207-7471
Year Built: 1946
Description: Under market value cash flow investment, excellent back yard, well established neighborhood, 4 bedrooms, 2 bath, 1236 sqft, lot size: .16 acres, estimated yearly taxes: $2,000.00, estimated yearly insurance: $700, estimated repairs: 25K includes paint in/out, new HVAC, flooring, foundation, update kitchen/baths, etc.
ARV: $99,900.
Cash Price: $55,000.

I did not find a buyer for the Texas turnkey property in time. So I bought the San Antonio wholesale property myself – cash – and a month later I sold it for $65,000 to an investor who used hard money. I made $10,000 on the house that no one wanted :).

I do that about once per month. But there are other reasons I still buy and sell wholesale properties in San Antonio: Because I love it! Most successful entrepreneurs never retire.

My real estate mission also is to transform San Antonio neighborhoods and clean up the city; a lot of progress has been made and I am proud of the part I have had in that. But to make more progress, we need out of state property investors to bring in more capital.

That is why I continue to advertise for out of state property investors in San Francisco, Seattle, Los Angeles, San Diego and Las Vegas, among other places. Those are good places to sell Texas turnkey properties.

My last word on this subject to the negative types is this: Your chances of real estate investing success are much lower if you have a bad attitude. Wise up.

March 9, 2016September 15, 2016

SOLD – 2006 N. Sabinas, San Antonio TX 78207

Address: 2006 N. Sabinas, San Antonio TX 78207
Year Built: 1918
Description: Out of state investment property investors, this San Antonio turnkey property is a gorgeous, updated home in super hot area and location west of downtown, 3 bedroom, 1 bath, 1,000 sq feet. Perfect first home recently rehabbed with updated kitchen, HVAC, paint in and out, flooring and bath, updated plumbing and electrical.
Exit Strategy: Owner finance or rent for $1195 per month. We will rent or sell property for you.
Price: $119,900, cash investors welcome. Also can be financed with 20% down, lenders available – Gary F. Curran, President, Curran Mortgage Inc. 877-522-4780 Direct.
For Showing; Contact Joe at 210 816 4280 or contact us. Spanish available.

March 9, 2016September 15, 2016

FOR SALE – 4003 Colonial Sun Dr., San Antonio TX 78244

Address: 4003 Colonial Sun Dr., San Antonio TX 78244
Year Built: 1984
Description: Out of state property investors, this San Antonio turnkey property has been recently rehabbed 3 bedroom, 1 bath, vaulted ceiling in living room, new tile, new interior paint, covered back patio and storage shed.
Price: $79,900 cash, investors welcome. Also can be financed 20% down, lenders available – Gary F. Curran, President, Curran Mortgage Inc. 877-522-4780 Direct.
Exit Strategy: Owner finance or rent for $799 per month. We will rent or sell property for you.

March 9, 2016September 15, 2016

SOLD – 1022 McIlvaine, San Antonio TX 78201

Address: 1022 McIlvaine, San Antonio TX 78201
Year Built: 1918
Description: Out of state investment property investors, this is a gorgeous, updated San Antonio turnkey property home in super hot area and location west of downtown, 3 bedroom, 1 bath, 1,000 sq feet. Has been rehabbed to include paint in and out,will install exterior unit A/C before inspection, new flooring, new kitchen and bath tile, new blinds, updated bath and kitchen fixtures, new kitchen cabinets, granite and appliances, must see to believe!
Price: $139,900 cash – investors welcome. Also can be financed 20% down. Lenders available – Gary F. Curran, President, Curran Mortgage Inc. 877-522-4780 Direct.
Exit Strategy: Owner finance or rent for $1395 per month. We will rent or sell property for you.
For Showing; Contact Joe at 210 816 4280 or contact us. Spanish available.

March 8, 2016March 9, 2016

How I Earn Money in Real Estate Investing While Others Fail

I have been a San Antonio property wholesaler and investor for 15 years. No matter if the market is up or down, I always make money. In all those years, many investors have come and gone, and yet I am still making money as I always do.

What makes some investors succeed and others fail? Lots of things, but in my experience, I often succeed in investing in under market value San Antonio properties where others fail for a few big reasons:

#1 I Never Get Greedy

I cannot tell you how many times I have had this exact conversation with an ‘investor’:

Me – ‘Hi Mr. Investor! I have this $50,000 San Antonio wholesale property for sale. You should buy it, I’ll do $10,000 in rehab and then resell it for you with owner financing. You’ll make $650 per month and earn 12% per year. A great buy and hold.’

Investor – ‘12%? That sucks! I want 20%!’

Me – ‘Enjoy Detroit, ROI shopper. Bye.’

The purpose of this illustration is to point out that human greed prevents many investors from making money. Many investors always want to make a grand slam on 1 deal. They aren’t happy with with $650 per month on a buy and hold in strong economic market such as San Antonio. No, they want to make 20% however they can….even if it means buying in a really bad area. They want to make more on a single deal than is realistic.

Working in San Antonio in under market value properties offers many great advantages: It’s a booming market, population is growing, revitalization all over town, low unemployment, business friendly, and cheap real estate.

On the down side, because properties are less expensive, you are not going to make $500,000 on a deal like you will in San Francisco. But the ENTRY COSTS for San Antonio are so much cheaper! Take full advantage of that and do lots of small deals and make a bundle!

The way that I make up for that is by never getting greedy. I never turn up my nose at making $5000 or $8000 on a deal, or $650 a month on a buy and hold.

I do hundreds of small transactions per year, and that is how I managed to build $40k per month in real estate cash flow.

Don’t get greedy, investors. It will cost you.

#2 I Don’t Live in Yesterday’s Real Estate Market

Here’s another real life conversation I have had with many investors:

Me: ‘Hi Mr. Investor! This house here is $55,000 and you will make $19,000 on the flip.’

Investor: ‘$55,000!?! It was $44,000 18 months ago! What a rip off!’

Me: ‘See ya.’

Real estate markets change. Distressed properties in San Antonio are more expensive than three years ago. Many investors will look at a property that costs $55,000, one that they could make 13% on per year, and complain that the house was $40,000 in 2013. So what? Markets change! The property is still dirt cheap and you will still make a good return.

In this situation, here is what happens: I have the wholesale San Antonio property under contract. The investor passes on it. So, I buy it cash, I rehab it, and I owner finance it and make all the money. 🙂

Below is a great San Antonio wholesale property deal that if someone does not buy this month, I’ll buy it myself and I will make all the money.

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: $89,000.
Cash Price: $59,000.
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: $10,000 in repairs and flip/resell retail – maximum ARV is $89,000. Profit $15,000-$20,000.
Notes: We recommend that you owner finance this out of state investment property because you will have no maintenance expenses. ROI will be ~13.7%.

In short, don’t get greedy and don’t live in yesterday’s real estate market, out of state investment property investors!

March 4, 2016March 19, 2016

How I Have Succeeded As I Property Wholesaler In San Antonio

I have been wholesaling and investing in under market value properties in San Antonio since 2001. I have been very successful because I have avoided some of the most common mistakes that many San Antonio property wholesalers make:

Having no emergency cash: I have been successful enough with San Antonio investment properties that I have plenty of cash when I need it. The problem that some beginning wholesalers have is that they don’t have much money. It’s nice to be able to wholesale properties because you don’t always need to have a lot of capital to make money. However, if you do not get the house sold, you have to buy the house. In my case, I am able to buy the house myself if it does not sell, and then I usually mark it up and make at least $5000 when I sell it eventually.
Not having a good buyer’s list: Many wholesalers in San Antonio real estate investing struggle to develop a good buyer’s list because it’s hard to find cash buyers. It takes a lot of work and networking. You should never wait until the property is under contract until you find cash buyers. Finding cash buyers is an ongoing process that you should always be doing. I am always looking for cash buyers everywhere I go, and I also market heavily on Craigslist and through my website for cash buyers. I have found many good out of state investment property investors this way.
Remember the needs of the buyers. It is easy to get too focused on your assignment fee as a San Antonio real estate investor. If the price of the house is too high, the end buyer may feel there is no money to be made. I am very good at negotiating a low price and getting the rehab numbers very close to reality. I also can recommend one of my excellent, inexpensive crews to rehab the San Antonio wholesale property to make sure that the investor is happy with his profit.
Check the house carefully. Either pay to have it inspected or be really good at inspecting houses yourself. If you end up putting a house under contract with very expensive, unknown problems, you could end up losing your rear.
Paying too high a price: Buying and selling under market value properties is fun and it is easy to lose track of the bottom line. If you pay too much money, you will never be able to turn a profit.
Crunch numbers: Before you buy or put a wholesale property under contract, you have to know that it is worth it. I am now a real estate agent so I am able to run my own comps and determine my ARV. So, you figure 70% of the ARV, minus your profit, and that is the highest price you can pay. Do not pay more than that or you will lose money.
Bad pricing: If you do not get any offers on your property after a month, you may have priced it too high.

By avoiding those common problems with San Antonio wholesale property, I have been very successful in my investing career.

March 3, 2016March 3, 2016

How You Can Use Hard Money to Make a $20,000 Flip in 60 Days

I am a long time cash buyer and wholesaler of San Antonio investment property. But not every investor can or wants to use all cash for their under market value property purchases.

That is why I have developed a good network of hard money lenders in Texas and California who can help my out of state investment property investors do San Antonio investment deals.

A ‘hard money lender’ is a private lender who loans capital to investors usually for flips, but sometimes for short term buy and hold investments.

Most hard money lenders lend based upon the value of the under market value investment property. It is an asset-based loan. If you have good credit and cash reserves, you may be able to qualify for a better rate.

Whatever your rate, be prepared to pay a high amount of interests, usually 12-15%. Why would you pay such a high rate? Because no traditional lender will lend on under market value properties that have not been rehabbed. Using hard money, while expensive, is a good option for some investors who either lack capital, or want to reserve their capital for other projects.

Hard money lenders will lend anywhere from 65-75% of the after repair value or ARV of the property (pending the lender’s appraisal). That means that you will need to have approximately 25% to 35% of the property price, PLUS the cost of the rehab, in cash.

So, let’s look at a new San Antonio investment property deal I just got:

Address: 1723 W Ashby Pl San Antonio, TX 78201,
Year Built: 1925
Description: Under market value property, investors dream north of downtown, 3 beds 1 bath, 1000 sqft, built: 1925, lot size: .19 acres, yearly taxes: $1,700.00, estimated yearly insurance: $800.00; estimated repairs: 35K, includes new HVAC, updated kitchen/bath, flooring, paint in/out, exterior skirt, appliances, plumbing/electric up to code, paint out door storage exterior, trash, lawn maintenance.
Max After Repair Value: $129,000.00
Cash Price: $69,900 firm.
Exit Strategy: Owner Finance with 35K repairs: 5-10k down or more, $1,295.00 monthly P/I, 30 year amortization, 10% interest. Or 15K rehab, new HVAC, paint in/out, kitchen/bath repairs, plumbing/electric up to code, then FSBO at 109K, 10% interest, $1,100 monthly PI/TI, 30 year amortization. OR, flip with $35k in rehab for a 20-25k profit in 60-90 days.

On this deal, let’s assume the hard money lender will lend 75% of the ARV. That is $52,425. So, you will need to have $17,500 of the sales prices in cash up front, plus the rehab of $35,000. So you will need $52,500 cash to do this deal.

Assuming a 13% interest rate, your payment per month during rehab/resale will be $568.

Assuming 3 months to rehab and resell, you will pay interest only payments totaling $1704. Up front fees will be approximately $2500 on this deal. So, your money is going to cost you approximately $4200.

Still, even if you incur those hard money loan costs, you stand to make $20,000 on this flip. Not a bad investment in San Antonio wholesale property!

March 3, 2016

San Antonio Investment Property Is Still Hot in 2016

Some investors might think that the San Antonio investment property market has slowed down given the decline in oil prices. But you would be wrong!

I am a San Antonio investment property wholesaler, and I am finding that sales are still strong, and prices are rising. The volume of houses that were sold in the city increased in January, and the cost to buy a house generally has gone up.

Total residential sales increased nearly 7% in January 2016 from a year ago, with a total of 1534 houses sold.

The median price of a house in San Antonio is still low – only $186,100 from $176,700 a year ago.

Overall, San Antonio is still a seller’s market, and inventory is low with demand high. I know personally I have sold 15 under market value properties in San Antonio since the beginning of the year. Investors who used to buy San Francisco investment property love to come to San Antonio and buy a distressed wholesale property for $50,000! And overall, the consumer market is still strong, with only a 3 month supply of houses available.

San Antonio’s strong investment property market is being driving by a strong economy, growing population and low interest rates. And it helps that you can still buy a single family home here for under $200,000.

I still am able to find really good under market value deals for out of state investment property investors, especially a few miles north of downtown in the 78201 zip code. Below is a great deal that I have several San Francisco investment property buyers reviewing:

Address: 1723 W Ashby Pl San Antonio, TX 78201,
Year Built: 1925
Description: Under market value property, investors dream north of downtown, 3 beds 1 bath, 1000 sqft, built: 1925, lot size: .19 acres, yearly taxes: $1,700.00, estimated yearly insurance: $800.00; estimated repairs: 35K, includes new HVAC, updated kitchen/bath, flooring, paint in/out, exterior skirt, appliances, plumbing/electric up to code, paint out door storage exterior, trash, lawn maintenance.
Max After Repair Value: $129,000.00
Cash Price: $69,900 firm.
Exit Strategy: Owner Finance with 35K repairs: 5-10k down or more, $1,295.00 monthly P/I, 30 year amortization, 10% interest. Or 15K rehab, new HVAC, paint in/out, kitchen/bath repairs, plumbing/electric up to code, then FSBO at 109K, 10% interest, $1,100 monthly PI/TI, 30 year amortization.
Alternate Exit Strategy: Flip with $35k in repairs for a ~$25,000 profit. Rehab completed in 45 days or less.

March 2, 2016June 8, 2017

SOLD – 1723 West Ashby Place 78201

Address: 1723 W Ashby Pl San Antonio, TX 78201.
Year Built: 1925
Description: Under market value property, investors dream north of downtown, 3 beds 1 bath, 1000 sqft, built: 1925, lot size: .19 acres, yearly taxes: $1,700.00, estimated yearly insurance: $800.00; estimated repairs: 50k in repairs to flip, includes new HVAC, updated kitchen/bath, flooring, paint in/out, exterior skirt, appliances, plumbing/electric up to code, paint out door storage exterior, trash, lawn maintenance.
Max After Repair Value: $125,000.00
Cash Price: $75,000
Exit Strategy: Owner Finance with 35K repairs: 5-10k down or more, ~$1295.00 monthly P/I, 30 year amortization, 10% interest.
Or 15K rehab, new HVAC, paint in/out, kitchen/bath repairs, then FSBO at 119K, 10% interest, $1095 monthly PI/TI, 30 year amortization.
Alternate Exit Strategy: Flip with $50k in repairs. $8000 to $10000 profit.
Contact us for more information or to make offer.
Sold and Rental Comps: Rental Comps 1723 W Ashby Sold Comps 1723 W Ashby

More Pictures:

March 1, 2016March 3, 2016

Private Investors Wanted – $50,000-$1 Million

As you may know if you peruse this site, I am a financially retired, under market value property wholesaler and investor in San Antonio TX.

I am seeking cash partners to purchase 3 bedroom, 1 bath distressed properties in San Antonio TX. I find the houses. You fund the purchase. I do the rehab in 30 days.

We split the profits 50/50. Or, I can owner finance/rent the property out for you.

Remember, I handle the entire project from acquisition to rehab to resale. You ONLY FUND the deal.

My goal is to transform the city of San Antonio TX into homeowners and to improve neighborhoods.

I need your help. Please contact me.

I particularly like to work with out of state property investors who once bought San Francisco investment property, Los Angeles investment property, and Seattle investment property.