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The Alamo City Investing Show is a dynamic podcast dedicated to real estate investing in San Antonio, Texas. Hosted by seasoned investors Aaron Bihl and Jason Lee, this engaging show dives into the unique opportunities and challenges of the San Antonio real estate market. Each episode features expert insights, tips, and strategies for both new and experienced investors. From exploring the latest market trends to dissecting successful investment deals, the show provides valuable knowledge for anyone interested in investing in the Alamo City. Whether you’re a local investor or looking to expand your portfolio into San Antonio, this podcast is your go-to source for practical advice and insider knowledge on real estate investing in this Texas city.
Episodes
Monday May 27, 2024
ACIS Episode 14 - The Costly Flip
Monday May 27, 2024
Monday May 27, 2024
The Alamo City Investing Show: Episode 14 - The Costly Flip
Welcome to Episode 14 of the Alamo City Investing Show with your hosts, Aaron Bihl and Jason Lee. In this episode, Aaron and Jason break down a recent project where they ended up losing money. They provide a detailed analysis of what went wrong, the unexpected costs, and the lessons they learned from the experience.
Jason provides updates on their business activities, including a slow start to the month and the challenges of handling dispo without their key team member, Mark. The hosts also share anecdotes about dealing with challenging real estate agents and the importance of honesty and consistency in the business.
A significant part of the episode is dedicated to discussing a property in Converse, San Antonio, which turned into a costly flip due to unforeseen foundation issues and other complications. They delve into the specifics of the property's condition, the unexpected repairs, and the financial impact, offering valuable insights for real estate investors.
Tune in for a candid and informative discussion on the realities of real estate investing, the importance of due diligence, and the lessons learned from a challenging flip.
Monday Apr 29, 2024
ACIS Episode 13: Wholesaling 102
Monday Apr 29, 2024
Monday Apr 29, 2024
In this episode of the Alamo City Investing Show, Jason Lee and Aaron Bihl discuss their recent experiences with running marathons and participating in the Fiesta de los Spurs fun run. They then dive into the topic of wholesaling in real estate, providing insights on how to find deals and calculate repair costs. They emphasize the importance of networking, driving for dollars, cold calling, and making offers on the market as methods to find wholesale deals. They also discuss the 70-75% rule for determining the maximum offer price and the process of calculating repair costs. They highlight the need for repetition and experience in accurately estimating rehab costs. In this conversation, Jason and Aaron discuss the process of wholesaling real estate. They provide tips on finding deals, estimating rehab costs, signing contracts, and finding buyers. They emphasize the importance of transparency, communication, and working with reliable partners. They also encourage beginners to keep things simple and take action.
Takeaways
- Networking and building relationships with real estate agents, wholesalers, and service companies can be a valuable source of leads for finding wholesale deals.
- Methods such as driving for dollars, cold calling, and making offers on the market can be effective for finding distressed properties to wholesale.
- The 70-75% rule, which involves multiplying the after repair value (ARV) by 70-75% and subtracting repair costs, can help determine the maximum offer price for a wholesale deal.
- Calculating repair costs can be challenging, but repetition and experience can improve accuracy over time.
- Working with an experienced investor or mentor can provide guidance and help in accurately estimating rehab costs. Take detailed photos and videos of properties to provide transparency to potential buyers
- Pay attention to hidden issues like foundation problems and plumbing leaks
- Work with experienced investors or trustworthy wholesalers to learn the ropes
- Use standard contracts like the Texas real estate commission contracts
- Be honest and transparent with sellers, contractors, and agents
- Build relationships with reliable buyers who can close deals
- Consider using a reputable title company familiar with off-market transactions
- Communicate effectively with both buyers and sellers throughout the process
- Start with simple strategies like driving for dollars and door-knocking
- Avoid overcomplicating things and take action
Chapters
00:00Introduction and Marathon Experiences
06:31Finding Wholesale Deals: Networking and Effective Methods
13:09Determining the Maximum Offer Price: The 70-75% Rule
30:00Honesty and Transparency
39:28Working with Trustworthy Wholesalers
Monday Apr 15, 2024
ACIS Episode 12: Quitting Your Job to Go All In On Real Estate
Monday Apr 15, 2024
Monday Apr 15, 2024
Summary
In this solo episode, Aaron Bihl shares his journey of quitting his job and transitioning into real estate investing. He discusses the challenges he faced in the corporate world, the reasons behind his decision to quit, and the process of building his own real estate business. Aaron emphasizes the importance of hating your job or it hindering your financial growth as key factors in deciding to quit. He also reflects on the pros and cons of leaving a stable job and offers advice for those considering a similar career transition.
Keywords:
quitting job, real estate investing, corporate world, challenges, building a business, financial growth, career transition
Takeaways
- Consider quitting your job if it makes you miserable or hinders your financial growth.
- Hang on to your job as long as possible until it holds you back.
- Transitioning from a stable job to working for yourself requires careful planning and consideration.
- Building a successful real estate business takes time and gradual growth.
- Reflect on your values and goals to determine if quitting your job is the right decision for you.
Chapters
00:00Introduction and Overview
11:25Challenges in the Corporate World and the Decision to Quit
36:05Building a Real Estate Business
Monday Apr 08, 2024
ACIS Episode 11: Wholesaling 101
Monday Apr 08, 2024
Monday Apr 08, 2024
Summary
In this episode, Jason Lee and Aaron Bihl discuss the concept of wholesaling in real estate. They define wholesaling as the process of buying a property at a lower price and selling the contract to someone else at a higher price, making a profit in between. They address the negative perceptions surrounding wholesaling and emphasize the value that wholesalers bring to the industry. They highlight the importance of trust, ethics, and providing value to both sellers and investors. They also discuss the types of sellers who are likely to work with wholesalers, such as those facing foreclosure or dealing with inherited properties. Additionally, they explain why investors and flippers choose to work with wholesalers instead of sourcing deals themselves.
Takeaways
- Wholesaling in real estate involves buying a property at a lower price and selling the contract to someone else at a higher price, making a profit in between.
- Wholesalers provide value by sourcing deals, negotiating, and offering convenience to sellers who are in distress or facing challenging situations.
- Investors and flippers choose to work with wholesalers because it allows them to focus on their specific strategies, be more selective in their purchases, and save time and resources.
- Trust, ethics, and providing value are crucial in the wholesaling industry to build long-term relationships with buyers and sellers.
- Wholesalers should have experience, a good reputation, and a thorough understanding of the market to offer reliable deals and advice to investors.
Titles
- Understanding Wholesaling in Real Estate
- Why Sellers Choose to Work with Wholesalers
Sound Bites
- "Wholesaling essentially involves buying something at a lower price and selling that contract to someone else for a higher price, making money in between."
- "Wholesalers are the middlemen who contract a house and assign that contract to a buyer, without actually owning the property."
- "Wholesalers provide convenience to sellers who want to sell their houses quickly and without the hassle of repairs or cleaning."
Chapters
00:00Introduction and Tradition of Rock, Paper, Scissors
01:31Defining Wholesaling in Real Estate
07:01Why Sellers Choose to Work with Wholesalers
09:53Why Investors and Flippers Choose to Work with Wholesalers
32:17Working with Experienced and Ethical Wholesalers
37:17Conclusion and Call to Action
Monday Apr 01, 2024
ACIS Episode 10: San Antonio Market Update
Monday Apr 01, 2024
Monday Apr 01, 2024
Summary
In this episode, Jason and Aaron discuss various topics including Jason's recent trip to the Dominican Republic, their experience at a real estate event, challenges with real estate agents, updates on the Thunder Ridge property, and their transition to wholesaling. In this episode, Aaron and Jason discuss their real estate deals and the process of finding and selling properties. They also provide an update on the San Antonio real estate market, highlighting statistics such as average days on market and price per square foot. The conversation then shifts to the recent lawsuit and settlement with the National Association of Realtors (NAR), discussing the changes in commission structures and the potential impact on the industry. The episode concludes with a call to action for listeners to provide feedback and connect with the hosts on social media.
Takeaways
Medical mission trips provide free medical and dental care to underserved communities.
Real estate events offer valuable insights and strategies for success in the industry.
Dealing with high-maintenance tenants and buyers can be challenging.
Transitioning from flipping to wholesaling can lead to faster turnaround times and increased volume. Real estate deals require finding the right properties and negotiating deals.
The San Antonio real estate market is experiencing longer days on market and potential changes in commission structures.
The lawsuit and settlement with NAR may lead to more flat fee commissions and a shift in the role of buyer's agents.
Good agents provide valuable services and are worth their commission.
Chapters
00:00 Introduction and Episode Milestone
01:08 Jason's Trip to the Dominican Republic
06:34 Challenges with Real Estate Agents
10:06 Update on Thunder Ridge Property
25:56 Introduction and Real Estate Deals
27:06 San Antonio Market Update
36:34 Lawsuit and Settlement with NAR
54:20 Closing Remarks and Call to Action
Monday Mar 25, 2024
ACIS Episode 9: Starting Over After Losing 200k With JP Desmet Part 2 of 2
Monday Mar 25, 2024
Monday Mar 25, 2024
Summary
In this episode, JP shares his journey of overcoming challenges in flipping houses. He discusses the financial setbacks he faced and how he managed to pay off his debts. JP also talks about his decision to transition from engineering to real estate full-time and the importance of supportive relationships. He shares his experiences with different flipping strategies and the lessons he learned along the way. JP provides advice for new flippers, including the importance of finding trustworthy contractors and starting with smaller rehab projects. He also discusses his future goals and plans for flipping houses.
Takeaways
- Overcoming setbacks and financial challenges is possible with determination and a positive mindset.
- Supportive relationships, both personal and professional, play a crucial role in navigating the ups and downs of real estate investing.
- Starting with smaller rehab projects and gradually increasing the scope can help mitigate risks and build experience.
- Finding trustworthy contractors and budgeting for contingencies are essential for successful flips.
- Continued learning and adapting to market conditions are key to long-term success in real estate investing.
Chapters
00:00Introduction and Recap
00:32The Challenges of Flipping Houses
01:29Dealing with Debt and Business Partnerships
02:55Deciding to Pursue Real Estate Full-Time
03:29Overcoming Challenges and Moving Forward
03:53The Importance of Supportive Relationships
04:51Making the Decision to Flip Houses Again
06:15Transitioning to the Agent Side of Real Estate
07:25Getting Involved in a Handheld Flip
08:24Exploring Alternative Flipping Strategies
09:21Helping First-Time Flippers
10:17Learning from Experienced Investors
11:17Navigating Challenging Flip Projects
12:28The Importance of Trust and Support in Real Estate
13:11Dealing with Unforeseen Challenges in Flips
14:26Overcoming Difficulties with Sellers and Properties
15:02Balancing Rehab Budgets and Project Scope
16:29Choosing Less Risky Rehab Projects
20:49Learning the Art of Acquisitions
24:49Balancing Flipping and Working for an Off-Market Real Estate Company
25:43Choosing Easier Rehab Projects
28:22Managing Risk and Budgets in Flips
29:41Paying Back Private Lenders and Future Plans
31:00Lessons Learned and Advice for New Flippers
34:30Finding Trustworthy Contractors and Budgeting for Contingencies
36:33Future Goals and Flipping Plans
37:41Conclusion and Final Thoughts
Monday Mar 18, 2024
Monday Mar 18, 2024
Summary
In this episode, JP Desmet shares his journey in real estate investing, starting with flipping his mom's house while still in college. He then transitioned to flipping multiple houses at once, but faced challenges with contractors who ran off with money. JP took over the projects himself and learned valuable lessons about trust, verifying contractors, and setting clear expectations. Despite the difficulties, he persevered and gained valuable experience in the process. JP shares his experience of flipping three houses and the challenges he faced with contractors, budgeting, and timelines. He discusses the struggles of managing multiple projects simultaneously and the financial burden it placed on him. Despite the setbacks and losses, JP remains determined to pay off his debts and continue his real estate journey.
Takeaways
- Start with small projects and gain experience before taking on larger ones.
- When working with contractors, trust but verify their work and set clear expectations.
- Avoid paying contractors large sums upfront and consider paying for materials separately.
- Be prepared to take over projects if contractors fail to deliver.
- Learn from mistakes and continuously improve your processes. Flipping houses can be a challenging and unpredictable endeavor, with unexpected issues and delays often arising.
- Proper budgeting and project management are crucial to avoid overspending and ensure profitability.
- Building strong relationships with private lenders and investors can provide financial support during difficult times.
- Learning from mistakes and adapting strategies is essential for long-term success in real estate investing.
Chapters
00:00Introduction and Background
01:07Getting Started in Real Estate Investing
05:35Buying Houses Right Out of College
07:30Transitioning to Full-Time Flipping
09:51Buying Multiple Houses at Once
24:25Taking Over the Projects
27:32Lessons Learned
28:13Struggles with Contractors
29:03Monthly Holding Costs
30:10Timeline and Budget of House 1 (Nolan)
30:23Timeline and Budget of House 2 (St. John)
36:09Mistake with Decks on House 2
39:14Leaving Engineering Job
45:24Timeline and Budget of House 3 (Nottingham)
46:41Total Loss and Debt
Monday Mar 11, 2024
ACIS Episode 7: The Ins And Outs of Private Lending
Monday Mar 11, 2024
Monday Mar 11, 2024
In the 7th episode of the 'Alamo City Investing Show', hosts Aaron Bihl and Jason Lee offer a comprehensive look into the often-misunderstood world of private lending and hard money in real estate. They delve into the advantages and potential pitfalls of using private money, highlighting the crucial role of funding in getting your deals off the ground.
With their profound understanding of real estate investing, Aaron and Jason guide listeners through the complexities of hard money deals, touching on key terms like Loan-to-Value (LTV), Loan-to-Cost (LTC), and points. The hosts emphasize the expectations of hard money lenders and the importance they place on securing their investment, providing an insider's outlook of the industry.
Whether you're a seasoned investor or a first-timer, this episode is filled to the brim with insights on approaching private money loans and on the potential hazards of mishandling these powerful instruments, especially with friends and family.
Our hosts also provide practical advice on negotiating terms with private lenders, discussing the benefits of having an extra set of eyes on your deals. They articulate the finer aspects of balancing trust, flexibility, and risk tolerance when venturing into private lending, and share professional tips on leveraging hard money lenders for scalability.
Listen and learn about the importance of transparency and the role of social media in today's real estate investing landscape. Discover how adding layers of protection with services of a title company and legal experts can potentially safeguard your investments.
By tuning into our episode, you'll gain a comprehensive understanding of private lending – from understanding the operation of private lenders, over insurance, deal verification, and proper documentation, all the way to strategic advice on borrowing limits.
End this enlightening journey with our hosts as they share valuable advice on approaching lenders, highlighting the enormous opportunities lending within real estate can present. Join us in learning, laughing, and paving your path to successful real estate investments!