Hey guys I have been looking over this forum and finally decide to join. I have read a couple books and I’m ready to be proactive with the help of a mentor! I’m am very serious about wholesale and a hard worker. I would love to learn from someone in Houston area who is experienced and ready to make money!
Welcome!
I would love to learn from someone in Houston area who is experienced and ready to make money!Where have you looked?
Real estate investment club of Houston and looked into some other local investors. No response. I have a great deal that i want to take but not sure about the legal part of it. I live in Texas and the lawnis a lot more strict for investors.
Tell us about the parameters of the deal.
Asking price: 65k
ARV:103k-130k
not sure what repairs look like
great neigborhood, great curb appeal
BANK OWNED
I have no experience, so take my comments for what they are worth. Given the information provided, I would suspect that there is a deal worth investigating there. I would start buy trying to pull comps in the area of the home. Look for what is being sold currenlty and what has been sold recently. Look at homes that are similar to the subject property. I would also consult with a few contractors or get quotes from them regarding the repairs. If you can get to see the property try to note everything that you see that needs replacing or repair. I would imagine that is a good place to start to evalluate the repairs needed. Carpet and paint throughout? New bathrooms? New kitchens? Are there any roof concerns? Do you see indications of leaks? I suggest getting a professional if at all possible.
From my limited knowldedge, I would suspect the strength of this deal lies in the accuracy of the ARV (be conservative) and the accuracy of the repair cost. From the bones of the deal, something is there I would suspect. Well then again, I would think your personal exit strategy would be a factor as well. The deal may be tight for a wholesale. If the ARV is closer to $100K, and repairs are say $30K, then I would say you don’t have a wholesale deal.
Good Luck.
Tiffany,
Shoot me an email and I will see if I can help you out. I am in Houston. I am in no way a seasoned vet, but I have closed about 5 deals in the past 6 months.
The legalities of this deal I am not keen on myself, but again, I have resources that could help us out.
Are you in Houston, or just the deal is in Houston?
Your “ARV” is VERY broad…I mean, $103K-$130K? This could make the difference between you making a profit and not making a profit…either way, shoot me an email.
Chris
If you are looking for someone in Houston, you need to look at the numbers on the we buy houses signs in your area. Don’t be afraid to call some of them. Some will be helpful some won’t. That’s one of the ways I got insider info and tips in the beginning. You will find that you will have some good business relationships with the ones that are welcoming.
If you have a buyer and they don’t you can help them and in retrospect.
Welcome to the wholesaling team. You will like it on this side, I promise. :dance
Thanks for ur helpful tips!! I’m def put them into practice.
Come back and let us know how things turned out. :biggrin
Tiffany10 you know I can find that deal all day long here in Houston. You have to bring something that I can’t find on MLS.
I just looked at MLS and found 3 deals.
$48k
ARV $120k
$46k
ARV $118-$120k
$60k
ARV $150k
Hi everyone here! I am new to this site. Yes i would also like to know more about parameters of the deal.