Are you willing to look at hard money? Is this family willing to follow you and fork out the rent for whatever home you end up landing? Some big variables missing.
However, if you want to get more specific; let us know. We have a team of hard money, or private money looking for debt partnerships along with a full rehab team. There are homes we bird dog and take ourselves. You can either buy in and handle the deal yourself or take one of one of our packaged rental properties already rehabbed and buy it at seller financing for a balloon of up to 3 yrs.
Just get in touch with us and we can help you pin-point more specific properties and show you how to structure it.
There are many ways to finance an investment property. Some foreclosed properties, especially from VA, FHA, Freddie Mac and Fannie Mae offer special investor terms. You will need an adequate credit score, but qualifying is still relatively easy.
It is VERY IMPORTANT to carefully screen your potential tenant. Imagine buying a rental unit, signing the mortgage documents, letting them move into your property, and then, they don't pay you the rental. That's where problems begin, Spend some time with a competent Property Manager, and discuss the possible pitfalls with them FIRST.
San Antonio has an abundant supply of GREAT Rental Homes. Contact us if you would like to see some and have some help evaluating the risks and potential rewards. We love working with Investors.
Doc Stephens, REALTOR
Keller Williams Realty
Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors