I'm looking at possibly buying some rental property. Possibly some homes to rent out, and/or a home in South Padre.

But I've never done anything like that before, and I'd like to avoid the school of hard knocks, which I have several degrees from.

I live in the San Antonio area, and would consider purchasing at least one home there. Also, I've always loved South Padre, and would be interested in buying a place for short term rental there, like a condo on the beach.

Not that I'm a big climate activist or anything, but I do own some ranch land and I can remember how much wetter it was 40 years ago as compared to today. it just seems like it has been getting progressively drier, and our tanks do not hold water nearly as long. So I'm a little worried about rising sea waters with a coastal property. But I do love the beach, and South Padre.

So if I am being more practical, I would buy homes close to my home base, near San Antonio? Some questions I have is what is the ideal size for a rental home? An older home or a home in a newer neighborhood is better? I really don't have the time for a fixer upper, so I'd rather get one with low maintenance.

I also considered a small four plex or something like that. Or possibly build one to rent out. But I think that could be incredibly expensive with construction prices, and a much slower turn on my money if I plan to rent them out.

I would recommend learning and reading as many real estate books as you can. The Bigger Pockets forum and podcast is very valuable. Read and listen and talk to other investors and start narrowing down your focus and clarity on what you want to do.

Learn how to analyze a property (I recommend starting with a SFH) and analyze 3 properties everyday. Start learning what's a good deal and what's a bad deal. Stack your cash and be ready when an opportunity presents itself.

Im building some duplexes with the intent of selling them in San Antonio.
Give me about nine months.

Got one piece of property that will have one duplex and one that will end up with 3 duplexes on it (6 units).

Estimated rents lie around 1600 a month for 2/2 and 1800 for 3/2. Each duplex is planned to end up one of each unit.

Pricing is likely to be in the 200k/unit range though im still putting pen to paper there.

My wife and I have been investing in SA market for a few years now and can help point you in the right direction. We've had long term and short term rentals, fix and flips (although they were House Hacks), used hard money to buy and renovate distressed small multifamily homes and we are currently looking for a multifamily or mobile home park deal to syndicate. She's also a Realtor and can help get you set up on a search. At a minimum that will give you several properties a day to run numbers on. If you'd like to grab a coffee sometime shoot me an email at figtreehomessa at g mail.

In the mean time, as mentioned, start listening to Bigger Pockets podcast, go back to episode 1 and just pour through them for a while. That will help you build a vocabulary and learn "back of the napkin" math quickly. I also really like Jason Hartman's podcast.

If you have not, immediately go pick up Rich Dad, Poor Dad and The Cashflow Quadrant books by Robert Kiyosaki. Those are always where I recommend people start. Welcome to the journey.

Thank you, that is some really good advice.

I have talked to an appraiser, and he makes all cash offers on some homes in order to get a lower price. I'll start looking into it. I probably won't do anything over the holidays, but may start looking around January and February. I need to read some books on it too. That is a good idea. I'll check out the bigger pockets podcast too.

Interesting. I'd be curious as to location on them. Keep me posted. That could be pretty good timing for me.

Gosh, htat is great advice. I look forward to doing a lunch one day. Possibly lets wait until after the holidays, everything is a bit jammed up right now. I will check out hte bigger pockets podcasts now, and go back to episode 1.

https://freeworkshoplivestream.com

There's 1 tomorrow.

Interesting. Is he one of the so called "gurus" the bigger pockets guys talk about to avoid?

I've had a couple of people though recommend him to me. I also heard his workshop program costs like 30k. Don't know how accurate that is.

Wyoming said:

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Interesting. Is he one of the so called "gurus" the bigger pockets guys talk about to avoid?

I've had a couple of people though recommend him to me. I also heard his workshop program costs like 30k. Don't know how accurate that is.

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No idea who bigger pockets have talked about. This group has been around over 30 years, bigger pockets less than 10.

This is a free workshop. Joining has different levels, depending on what you choose to do & what info you can routinely access.

I've debated about LU a lot and have friends who've been both members and employees. If you want a leg up and to go faster from zero experience it's a great way to go.

Basic membership is prolly going to be $297 at that free workshop and they will hard sell you to one of the higher memberships. The basic just gets you into the case studies IIRC. To get help buying your first rental property, leads from their internal realtors and access to thier trades pool you'll need to jump to the SFR level of membership, I don't remember what that's called. I believe that is a $7k commitment.

The $27k level is the PIG or preferred investor group and it's geared towards multifamily syndication. I also believe that your SFR level commitment rolls into your PIG when you are ready to make that jump.

They are not a scam. It's a very real way for anyone to gain access to real mentorship for people doing it in your area. It's pricey hut you will waste at least as much time and money learning on your own in most cases. At least I have.

Wyoming said:

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Gosh, htat is great advice. I look forward to doing a lunch one day. Possibly lets wait until after the holidays, everything is a bit jammed up right now. I will check out hte bigger pockets podcasts now, and go back to episode 1.

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Sorry I never replied back. I'll tell ya a last little nugget of advice that I wish I would have believed when I was starting.

Do not wait until you are ready, you will never really be ready. You just gotta start doing it.

OverR said:

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Im building some duplexes with the intent of selling them in San Antonio.
Give me about nine months.

Got one piece of property that will have one duplex and one that will end up with 3 duplexes on it (6 units).

Estimated rents lie around 1600 a month for 2/2 and 1800 for 3/2. Each duplex is planned to end up one of each unit.

Pricing is likely to be in the 200k/unit range though im still putting pen to paper there.

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Very interested

I have been thinking about it, and I am very interested also.

Nine months is good timing for me also.