Hello all,
Please, I would like to know if anyone is wholesaling or flipping properties in Houston. I’m about to move back to Houston and I would like to know how the Houston market is.
Are there a lot of motivated sellers in Houston?
Are bandit signs illegal in Houston? You know the saying “Don’t mess with Texas” 
Are there many hard money lenders lending in Houston?
Are people buying more of new construction homes or are older homes highly sort after too?
Thank you in advance.
Before I give you this advice keep in mind that you are taking advice from a person that does not believe in gambling… I mean flipping
In general the number of motivated sellers is pretty constant. People in desperate situations are frequently not motivated sellers they just allow themselves to get foreclosed on. There are some foreclosures that are for sell that are cheap enough for you to buy and make money on them.
Bandit signs are illegal but nobody ever prosecutes. Sign vigilantes cut them up and pull them up. They only stay until the grass cutters and garage sellers pull them up.
There are a couple of hard money lenders in town. I can give you a list if you PM me.
They are doing both. In general flips work when there is market appreciation along with adding value. With a relatively low unemployment rate of 8% Houston real estate has a rather sound appreciation rate of around 3% this last couple of years. When you compare the rest of the country with decreasing home values Houston is pretty good but is it good enough to be out there flipping? I don’t know. There is an area inside the loop near downtown that seems to buck that trend called “The Heights”. It is an area that is being gentrified and it is possible to buy a little old 1,000 sqft house for $150k and sell it as a bungalow for $300k .
Thanks a lot Bluemoon. I just sent you a PM. Those are very valuable information.