I am a fairly new investor in San Antonio TX. I have past experience with owning rentals in Virginia. I didn’t like being a landlord. After I moved to TX, I didn’t think I would ever do real estate again.
But I got to know my mentor here, who has made millions with owner financing of distressed homes. He buys a house for $50,000 in certain neighborhoods in our city, and owner finances them at 10% to carefully qualified buyers. NO REPAIRS by the investor :). The occupant fixes it! It’s great!
- 15% cap rate at leastt
- no repairs or property maintenance - ever
- tax/ins is the only investor expense (prop is in your name; he uses a land contract)
That’s it. Cash flow! I get $700 free and clear each month from each house. No expenses or landlord headaches!
It’s worth your consideration, at the very least. Thanks!
