Finding deals in Houston

[Denise Mayo-Walley]

Hello BP Community! 

BP is an absolute godsend and has helped make the purchase of my first 2 properties over a year and a half as painless as possible. My properties are located in Houston, TX and were purchased for $98,500 and $100,000 with both being rented for $1,200. 

I have that urge again to purchase a property and have taken action towards doing just that meaning I got preapproved for a 30-year fixed rate loan and I have been in communication with my Realtor.  HOWEVER, I would really like to that 'You make your money when you buy' saying into practice.  While my 2 properties cash flow every month, I would like to find DEALS, not just a cash flowing rental property.  

I get emails from all sorts of wholesalers with some having decent prices and others properties being advertised simply not meeting my criteria and I have convinced myself that I may have to do more rehab than I wanted to do previously. Also, It seems as if the properties that could potentially be good deals can only be purchased with hard money, cash or approved lines of credit. And I'm quite sure by the time the property list gets to little ol' me the good deals have already been taken. How are my fellow semi-newbies faring with finding decent deals with these limitations? Are you all using hard money loans to do the BRRRR approach to take advantage of better deals?

Your input is greatly appreciated!

[Brandon Cravens]

@Denise Mayo-Walley @Ricardo Murph II has great advice. Always run the numbers and stick to what you are comfortable with. Most 'wholesalers' in Houston overestimate the ARV and underestimate the repairs.