There are a lot of good deals in San Antonio, but it is important to do you research. I have been here for nearly 3 months. I seen a number of properties promoted top Australian investors. Especially properties on the east side. These homes are slums and do not compare to anything I have seen in Australia. Secondly investors are buying more expensive properties because agents tell them that the return will be 1% of the purchase price, that is the rent. This is simply not true. It is also worth noting that property taxes here are amonst the highest in the country with rates running at around 3%.

A property showing a 13% gross return could come down as low as 7% net. It is important to run your numbers.
Having said this there are still great buys around and renovation opportunities are everywhere. There is not doubt that the market is slowing and will continue to do so. Also stay away from the bottom end of the market, not just because in many cases they are slums but because californians are simply paying to much for the houses.

Nigel Kibel

http://www.propertyknowhow.com.au
check out my new web site

Australian and New Zealand The United States Property Researcher and education

I agree with everything that Western has said, stay away from the east side, it is close to ther city but very rough. You will buy cheaply but it will be difficult to rent and you will not get any capital growth. Property management is important. One thing that has suprised me is that overall real estate sales people here do not provide great service. Customer service and attention to detail is what I have spent a great deal of time teaching my staff.

Nigel Kibel

http://www.propertyknowhow.com.au
check out my new web site

Australian and New Zealand The United States Property Researcher and education

As I continue to research the market here, one thing that keeps coming up is that many people are over paying at the forclourer sales. Some people that I have begun to work with now approach people before there homes are forclosed. There are a number of advantages in this, firstly there is no competition, secondly you are helping someone. What you are after here is a small profit. If the person goes to forclosure there credit rating is ruined.

Nigel Kibel

http://www.propertyknowhow.com.au
check out my new web site

Australian and New Zealand The United States Property Researcher and education

Hi Phil

I am now working in Texas. I arrived yesterday and tomorrow I will be conducting my first sales meeting at a real estate company that I will be running. I will also be setting up a property investment company. The people I have been working with are already buying these homes. As I do more reseach I will let you know. They are normally held on the first Tuesday of the month. When you buy a forcloser at Auction you have to pay cash for the property. You normally cannot inspect it before and it is important to check that there is not debt on the house because if there is it becomes your debt. Let me know what you are after.

Nigel Kibel

http://www.propertyknowhow.com.au
check out my new web site

Australian and New Zealand The United States Property Researcher and education

These days to get great positive cashflow you need to look off shore in places like New Zealand or especially in the United States

Nigel Kibel

http://www.propertyknowhow.com.au
check out my new web site

Australian and New Zealand The United States Property Researcher and education
One Day property investment research workshop The United States. Please register your interest
http://www.changingplaces.com.au Buyers advocate.

I mainly buy for clients. I was just using that as an example. Clearly if someone searched they would have found my name. I was just refering to the area. I was not trying to sell the property. Infact if you bothered to read my post I referred to St Kilda or Elwood. I am handlying this property in Altona for a friend. You would not have to be smart to see my name on it. My main focus is that I research overseas properties and buyers advocacy in Australia. I used the Altona property as an example. Try reading my other posts.

Nigel Kibel

http://www.propertyknowhow.com.au
check out my new web site

Australian and New Zealand The United States Property Researcher and education
One Day property investment research workshop The United States. Please register your interest
http://www.changingplaces.com.au Buyers advocate.

It also makes far more sense to invest in a city like San Antonio in Texas or other parts of Texas for that matter. The local economy is far stronger and you will get capital growth as well as great cashflows.

Nigel Kibel

http://www.propertyknowhow.com.au
check out my new web site

Australian and New Zealand The United States Property Researcher and education
One Day property investment research workshop The United States. Please register your interest
http://www.changingplaces.com.au Buyers advocate.

Personally I would always buy 2 bedroom rather than a single. That way you have more chance that an owner occupier will buy the property rather than just an investor. The only problen you have is that $250,000 is a little limited for the better areas. You might try East St Kilda and areas such as Bentleigh also re good value. On the other side there are areas like Altona. I know of a weather board house with a Unit behind where the asking price is only $260,000. I would suggest that if you are moving here you either invest a few weeks to work out where you want to live or you rent so that you can gain an understanding of the market.

Nigel Kibel

http://www.propertyknowhow.com.au
check out my new web site

Australian and New Zealand The United States Property Researcher and education
One Day property investment research workshop The United States. Please register your interest
http://www.changingplaces.com.au Buyers advocate.

I think that using an advocated is essentional if you are buying intersate or overseas. I am based in Melbourne and have been purchasing properties as far away as New Zealand and the United States

Nigel Kibel

http://www.propertyknowhow.com.au
check out my new web site

Australian and New Zealand The United States Property Researcher and education
One Day property investment research workshop The United States. Please register your interest
http://www.changingplaces.com.au Buyers advocate.