San Antonio RENC - FAQ's
The San Antonio Real Estate Networking Club helps local San Antonio real estate investors get the tools and advice they need to maximize their return on investment and avoid investing errors. If you are new to San Antonio real estate investing, we hope you find our Frequently Asked Questions page helpful and will contact us with any follow-up questions.
One asset of being a real estate investor is that just about anyone can succeed at the job with time, effort, education, and experience.
Even a lack of money is not an obstacle. Talented investors can form partnerships with experienced investors for a share in the profits while they build their cash reserves. Learn more when you join our next free meeting of the San Antonio Real Estate Networking Club HERE.
The biggest difference between real estate agents and real estate investors is that real estate agents earn commissions by working for their clients. However, real estate investors profit directly from the value of their investors.
Real estate investors have many options. They could make money by selling houses for a profit, cultivating a steady stream of rental income, or applying the many possible value-add strategies.
You do not have to be a licensed realtor before investing in real estate. As an investor, you are not selling your services to anyone else. Only you can judge whether you’re ready to invest.
You do not have to be a licensed realtor before investing in real estate. As an investor, you are not selling your services to anyone else. Only you can judge whether you’re ready to invest.
Getting a real estate license gives you access to the Multiple Listing Service (MLS). However, there are other ways to find out about attractive properties on the market.
Cash is always helpful for San Antonio real estate investors. Nonetheless, there are ways for San Antonio real estate investors to make money even when starting small.
A first step for many investors is to purchase their own home and fix it up. You might earn tax breaks from your primary residence. Furthermore, you can invest the money you spend on rent.
Another option is to pool resources with other investors and share the profits. If you don’t have money to contribute, offer your time and expertise. It might be helpful to have a real estate license and other credentials.
Owner financing means having the seller lend you money instead of borrowing from the bank. This option can reduce costs and help you buy a home if you don’t have a great credit score. If a seller has a pressing need for a quick sale, you might get better terms than you would from a bank.
Wholesaling is more complicated than a traditional sale. However, it allows people to make money investing in real estate even if they don’t have the money for a cash sale.
In real estate wholesaling, the wholesaler signs a contract to buy the house at a particular price. The wholesaler then sells the contract to another investor at a higher price and keeps the difference. The contract should have a clause allowing the wholesaler to back out of the contract if they cannot find a buyer during the term of the contract.
Wholesaling is legal in Texas as long as you follow the rules and do not misrepresent the contract terms. Make sure you understand the process before signing any wholesale real estate contract.
Having a real estate license or license for home remodeling could be helpful if you plan to flip homes, but it isn’t necessary. As long as you can find homes in your area and add value to them, you can make money.
A “subject to” real estate sale is a good option if the buyer lacks the funds for a cash purchase but does not want to take on a mortgage in their own name.
If a seller agrees to a "subject to” sale, they will give the title to the buyer. However, they will keep the mortgage in their name on the understanding that the buyer will make the remaining payments on the mortgage once taking possession of the home.
Subject-to sales are legal in Austin, but they can be complex. It is a good idea to talk to a real estate attorney and experienced Austin real estate investors in your area before attempting one to avoid costly mistakes.
Laws do not prevent subject-to sales in Texas. Mortgage companies typically will not object as long as you pay the mortgage on time.
The community of San Antonio real estate investors is a valuable resource for new investors. Remember that you don't have to tackle the complexities of investing on your own.
Start by attending a meeting of the San Antonio Real Estate Networking Club. You can sign up HERE.