Does anyone know what the rental market is like in the San Antonio area, or has had any success renting homes in the area? With homes so inexpensive to buy, is it really possible to make money renting there? Any info will be greatly appreciated!!!
Dre
There MUST be some demand, both the Army and the Air Force have their medical training facilities there…NEVER under-estimate tapping the military market!
BTW, homes are rapidly escalating in that area AND there are high real estate taxes (no state income taxes, though)…
Keith
Thanks for replying…
Dre
Rental market in San Antonio had been good for me. Although with the flood of investors coming to the SA market, it does take it longer to get a renter into the house. I have dozens of rentals, all SF at northwest side of town. Which is big growth area of SA. Average cash flow of $200-400 per month with 5-20% down. This morning news stated the SA housing should appreciate 12-15% for 2006. For 2005 was 10%. I am a buy and hold investor, I should have all the house pay off in 15 years, and then there are my retirement funds. By the way my rents range from $825-$1450. Anything less than $1000 is easy to rent in NW side of town.
Can you give me an example of what size home will range from $850-$1400? Is this the Boerne area you are talking about?
Thanks,
Dre
from 1100sf to 3300sf, not Boerne. 1604 and 151 area. or SeaWorld area. Mostly all brick with 2 cars garage. Northside ISD is the key. Good schools are must to purchase any real estate.
Do you manage your properties or do you use a management company?
If so, would you recommend someone? I emailed the 2 REI clubs listed on this site and have yet to hear from either.
Mahalo,
Dre
We manage all the properties ourselves. Sorry I can’t recommend any management company to you. Do you located in SA now? If you are not in SA already, that would cost too much time and money try to mange rental out of town. I knew people tried to do that and had property left vacant for 3 or 4 month. because the management company is not doing their job. In the end, they had to sell the property and loss over $10,000 in the process. ouch!!!
I can usually get a renter less than 30 days. There is plenty of renter need housing in SA. Had you heard, SA and rest of TX had one of the worst credit score in the nation. They have the income but not the down payment or credit score to qualify for house. And that is where we come in to help.
Hey,
Due to recent legislation (re: school finance) property taxes (real property) should decline in Texas making it more favorable.
Peace,
Richard
All of the information that I have been getting from you guys has been helpful because my wife and I are contemplating relocating to the SA area from Hawaii. The money that we will be bringing from here will be great for us to buy and hold for rental income. The hard part would be to find a reputable management company to manage our properties there until we actually relocate, since we want to establish a presence before moving.
Dre