I found two properties in San Antonio Texas for sale for 1. $62,000 with current tenant paying $818 per month (Section
2. $59,000 with current tenant in place paying $745 per month. (Section The number seems good. With right deposit it will become a positive cashflow investment property. I have not seen the properties yet. The seller will send me photos tomorrow. Both properties are in San Antonio Texas with postcode 78242.
Here are some limited info i got from seller in regards to property being sold for $62,000.
Lot size = .1680 acres or 7320 Sq. ft
Square footage of the house =1490 sq. ft
Year built = 1978
Yearly property taxes =$1986.Does anyone here familiar with that postcode? or this area? Or perhaps have invested in this area?
Any recommendations as to who i employ as a property manager in San Antonio?Thank you.
Christine
Christine,
Just do your due diligence. If the numbers are truly what they say they are then yes it will cashflow.
at these prices the homes may need some rehab work also just make sure you get a anspection done on the place.
Are they retail or wholesale? Reason i ask is if they are retail, look into your finance options first.
They will be in average neighbourhoods which is ok. The main thing is make sure its not in slum areas.Make sure your property manager also understands section 8 and how it works. Not all do!
If you do go ahead with the sale, why not ask the seller to do it under owner finance for you also. This way you could potentially get away with putting no money down.If you dont know these people at all then i do think you are increasing your risk but i guess that dosnt mean that its not neccessarily a good deal.
So good luck with it but please just do heaps of due diligence.Oh another thing, maybe ask the seller to supply you with rent rolls as well so you can see proof of funds of rents being paid on these properties. You could also maybe try and get a contact number at section 8 and get info from them directly.
again good luck and i hope it works out for you.
Hi Christine,
I was looking for local investment properties and ran across your question/s. I have lived in San Antonio for 30+ years and can provide intimate details as to any area in the city and surrounding areas (78242; i know everything around lackland and can provide you with objective feedback). I (obviously) am a local resident and investor, and get a bit of personal satisfaction out of assisting new residents/investors with acclimating. It is great for our city and healthy for our economy. please email w/any questions
Hi Christine ,
welcome !!
The postcode 78242 includes a lot of different subdivisions eg,Indian Creek,Gateway Terrace,Lackland City,Sky harbor,Hidden cove,Dove valley estates ,Ridge stone,Valley hi etc etc.So Its important to have a good look around and check out the area "on the ground"actually being there in person.
Then you know what yr buying into.Certainly do all yr due diligence aswell eg,on yr computer and phone calling alot of different people with opinions in the area.
I have some properties in san an actually and it has taken some time to get it to all to run smoothly thats for sure. I have found a big difference in the way we aussies do business (generally speaking)so it takes time to make it all happen.
Try http://www.realtor.com for retail prices but you really shouldnt pay these prices as there are plenty of under market deals available.
also try http://homes.point2.com/Neighborhood/ this site to get a vague idea of the areas demographics etc.(note :these sites can be highly innacurate at times also so be careful.all the best
Luke
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Hi World changer
any other web sites for U.S property ?
Have friends in Georgia New Jersey and Ohio , would you think it better to start looking in these area's ?
I.e local knowledge feed back and places to stay when / if I go over to purchase….
thanks for any tips !Nucopia wrote:any other web sites for U.S property ?
2. $59,000 with current tenant in place paying $745 per month. (Section 
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