Opinions and such

Where’s the next boom? I know this is the Almightly question, but I’ve been finding a lot of success if Texas because of the highly undervalued market and deals that can be made there. I’ve also found a lot of flipping success in Virginia. I’m currently working on 2 projects in Dallas and one in Virginia. The Dallas houses have needed just under $20,000 in repairs, but have given me $110,000 in equity. One’s for sale, and has been for a little over a week and a half, and the other one is being completed. Also, in Virginia, I’m finding that it’s a buyer’s market. I just acquired a property listed for $450,000 for $395,000 with the house NEXT DOOR (that is smaller) for $610,000 4 months ago. Given, this house needs about $100,000 in rehab, but the returns are WELL worth it since the DOM for this neighborhood is 33.4 days…

These are areas I’m finding significant success in…where are you finding success in flipping your properties?

Stephen Bingemer

Houston, San Antonio, Austin, and Dallas are seeing a lot of investors. We’ve had a ton of folks buy for appreciation in Dallas and Austin while San Antonio and Houston are cash-flow markets. It’s tough getting decent cap rates because of the significant number of out-of-town investors purchasing in the area.

In San Antonio, rental homes are now on the market longer because of the large number of investor purchases. In Austin, we’re seeing rental vacancies drop. Travis, Hays, and Williamson counties are all very hot. Buda, Kyle, Cedar Park, Dripping Springs, and Georgetown are smaller towns on the outskirts of Austin that are seeing commercial and residential real estate booms.

The next boom? Iraq. Iran, North Korea. Sorry couldn’t resist it.

Da Wiz

Actually, for you, Wiz…that was pretty funny!