Moving to San Antonio?
Why are so many people moving to San Antonio?
You’ve probably heard the hype about the cost of living in Texas, especially in San Antonio right?
Well, it’s true! Not only is San Antonio more affordable than other Texas cities such as Dallas, Austin or Houston, it also has a unique charm to it and people from all over the country and the world are moving to San Antonio. Here are some of the most common reasons why people are moving to San Antonio:
- Cost of living.
- Great aray of Real Estate prices.
- Unemployment rate.
- Investing opportunities, especially in Real Estate.
- Geographical location.
- Quality of life.
San Antonio is a great place to live and if you are either thinking about moving here or have already taken the leap of faith, here are a couple of things to consider:
- San Antonio, New Braunfels and San Marcos have some of the highest growth rates in the country.
- The food in San Antonio is very diverse, there is everything from Mexican, Texan, BBQ, Oriental, Middle Eastern and European. Here you will learn that Mexican and Tex-Mex food is not the same!
- It’s HOT, even in October the temperatures can reach 90 degrees or more.
- It snows every couple of years believe it or not!
- San Antonio is located near other major cities and other great places to visit such as: Austin, Fredricksburg, Greune, New Braunfels, Dallas, Houston, Corpus Christi etc.
- San Antonian’s take their basketball very serious and past players such as David Robinson, Tim Duncan, Tony Parker, Manu Ginobili, Bruce Bowen, George Gervin and Sean Elliott should be considered as San Antonio treasures and heroes. Gregg Popovich (coach) is well known as “Pop’s” and is highly loved in San Antonio (watch his interviews and his interactions with the press).
- There is alot of Mexican influence in San Antonio and history unfolds itself throughout the city but especially downtown at the Alamo, The Riverwalk (la Villita) and The Spanish Missions (Canary Island Missionaries).
- As some of you may know, Texas has been part of Spain, France, Mexico, USA, Confederate States of America and the Republic of Texas. Curious thought of the day, this is why Six Flags was named Six Flags, it all started in Arlington!
- There are many activities to do in San Antonio, especially for families and some of the best attractions are: Six Flags Fiesta Texas, Sea World, The RiverWalk, The Alamo, Enchanted Rock, Hamilton’s Pool, Jacob’s Well, Fredricksburg Wine Country, tubing at the Guadalupe or Comal River, Going to nearby beaches such as Corpus Christi, watch a Spurs game, watch a FC San Antonio soccer game, watch a Missions game, go to a Rampage game, visit the Pearl brewery or visit the amazing Tower of the Americas (if you are not afraid of heights).
- San Antonio is also home to many military and air force bases, hence why it’s sometimes called Military City USA. Some of the bases located in San Antonio and it’s surrounding areas are: Lackland AirForce Base, Kelly AirForce Base, Randolph AirForce Base, Fort Sam Houston, Camp Bullis to name a few.
- Real Estate in San Antonio is also at it’s prime, year after year we have seen an increase in the price of homes of at least 3.9% according to the San Antonio Board of Real Estate.
There is so much more to talk about, but if you or somebody you know are relocating to the Alamo City please feel free to call me for all of your Real Estate needs.
Real Estate Investing – The dream or nightmare?
Have you dreamt about becoming your own boss, having the flexibility to spend time with the ones you love and building the foundation of wealth and future success?
You probably have!
Are you tired of seeing Social Media posts about free seminars/webinars that seem to have hidden agendas about how to become a millionaire in Real Estate over night?
The truth is thousands of people attend some of these seminars only to find out that they are trying to sell you into a “system guaranteed for success”. Now, don’t get me wrong some of these seminars may actually have many truths and even some good information, but one must always dive into a new adventure with caution.
The reason I’m writing this article is because Real Estate Investing can be an amazingly rewarding career in many different aspects but can also become a nightmare if done wrong. Don’t believe the TV shows on HGTV, the truth is that Real Estate Investing is a LOT harder than the TV producers want you to think it is
Given the fact that I am a Licensed Realtor, I can’t give any type of financial advice or ever guarantee a return on an investment; my job is a fiduciary responsibility to my clients and the general public. Be wary of companies trying to pitch on an ROI. If the home they are trying to sell you is such a great investment then why are they not trying to flip it or hold it themselves? Some may argue that wholesalers can make a lot more money by working with large number of transactions hence why they would rather leave this opportunity to someone else, but it still leaves one to wonder if it’s truly a good investment why don’t they keep it to themselves. The after repair value (ARV) of homes in some cases become objective to the seller and have no real market data behind it and things to consider such are some monthly costs associated to the purchased home such as principal, interest, taxes, utilities, maintenance, unforeseen events etc, also, they don’t usually tell you how long the other “comparable” were on the market and will probably not appraise to the value you are being sold on, this as a consequence would make it very difficult for someone getting a loan to actually get the amount of money they need in order to purchase the home without a MONSTER down payment.
I am going to say that I have seen, been part of and know people who have been successful Investing in real estate, the truth is IT CAN BE DONE and these are my recommendations:
– If a home is already on Foreclosure it’s probably already too expensive to give you enough cushion room for a profit, especially with unexperienced investors. YOU MAKE THE MONEY BUYING THE PROPERTY; a bad purchase can be EXTREMELY frustrating and has terminated many investor’s dreams and aspirations. Foreclosures can usually be found on the first Tuesday of every month at the Bexar County Courthouse steps.
– Wholesalers may actually have some of the best properties to invest in; however it’s imperative that you conduct your due diligence. Some wholesalers DO NOT OWN the properties; they only own a contract which will be handed to you. Make sure to conduct a formal “competitive market analysis” (a Licensed Texas Realtor can help you with that); they will need to have access to the MLS.
– Be very careful to “over improve” a property, you may actually never break even if you do this.
– Consider the OLD saying location, location, location. It still holds VERY true. School districts are also very important as well as flood zones.
– Interview different lenders and understand the cost of financing, there are also many other ways to finance that do not involve a conventional loan.
– Always get a survey.
– Learn about closing costs; ask a Realtor or a title company for some guidance.
– Make sure the property goes through a formal inspection with a TREC licensed Inspector; you could be dealing with HUGE issues that may not be noticed by the public eye.
– Make sure there are no “liens” on the home.
– Make sure the Title is clean.
– ALWAYS keep your margin in to perspective (Purchase price + costs + time on the market + closing costs) – sales price = profit/loss
– Make sure the property is not in a FEMA flood zone, this is a risk, may not sell, you will have to purchase flood insurance if you received a loan
Talk to a Real Estate attorney or a financial planner on more information about:
– 1031 exchange 😉
– Capital gains.
– REO (RealEstate Owned)
– International investments and taxes.
– Buying estates after probate.
For more information, please call me at (210) 274-2778
So, is Real Estate Investing truly a dream or is it a nightmare?
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