Buying rental homes, investing in real estate, and tenant selection
ShareMany new landlords are surprised and upset when they discover that after their tenants have moved out, they still need to spend some money on the property before it is ready to be leased again. These folks paid their rent on time and kept the house and yard in good shape, and you were looking forward…
ShareAs a Realtor in San Antonio specializing in rental properties for investors, I spend a lot of time looking at market data on both sales and rentals, both price and days on market, for properties offering comparable features. I compare the sales price to typical rental rates in various neighborhoods, looking for cash flow. Over…
ShareMy real estate colleague in Houston, Greg Nino, posted some great advice for prospective investors in real estate. Some of it was even tactfully worded. Like Greg, I have heard it all before, and I can’t afford to spend time working with investors who won’t provide proof of the following important criteria: ability to follow through…
ShareA question asked by a new real-estate investor on a real-estate forum got me thinking. Should you expect your agent to send you the hottest deals the instant they appear? What about lowering their commission as your buyer’s agent, since you may be buying (and possibly selling) several properties? I disagree with many investors who…
ShareThere’s a saying that if you really want to get to know somebody, hire them or marry them. There is another way: rent to them. It’s important to decide in advance what kind of people you want to deal with as tenants. Even if you hire a property manager to fade the heat, your renters…
ShareInterest rates are at historic lows, and rental rates are good in San Antonio, Texas. When buyers consider a single- or multifamily property for investment, one question they don’t always think about long enough is whether to go for instant rental income or start from scratch. Many investors think they only want to purchase a rental property if it’s…
ShareThese days, lots of sellers who can’t sell their homes quickly may decide to rent them out until sales prices go up. And buyers are taking advantage of the historically low interest rates to invest in rental properties in San Antonio. There are two important things: the tenants and the property itself. What’s the best way to have…
ShareThe May/June 2010 issue of Personal Real Estate Investor magazine focuses on San Antonio, and quotes me. Here is the description of the article from their website: San Antonio, Texas – River City Returns – Five State Lone Star Values - Steeped in Texas history this gem on the edge of Texas hill country attracts investors…
ShareBack in 2006 and 2007, 61% of my sales were of rental properties. It worked out to a total of 41 single-family homes that I helped investors buy. With the mortgage meltdown, lending guidelines to investors got incredibly tough, so I’ve only sold a couple of homes in the last two years as investments. But the banks…
ShareI recently showed a small sample of potential single-family rental homes in northwest San Antonio near the Medical Center, USAA, UTSA, and west towards Lackland AFB, Sea World, and the financial and data centers off Highway 151. My client was only in town for the afternoon, and had been delayed to boot. I only had time to…
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