Any BRRRR investors in Houston tx area? Looking for groups and networking
Check out Houston Buyers Club -- you'll see them on FB and on meetup.com
Pretty good group, kinda small, usually they meet out at Quest in West Houston (Park Row I-10).
@Mark Sewell thank you sir
I'd be interested in this, too.
@Frank Gamez - of course ... If I can buy rehab - and sell with a decent profit after paying realtor fees and other closing costs then there is room for a refi with pulling most of you original investment back out ..... the key is your deal sourcing
Thanks for elaborating @Jeff Wallace . Do flippers also run their offer through the .7 minus repairs equation? Also, would love to know where the gray matter name came from! lol breaking bad reference maybe?:)
@Frank Gamez - 70% is a good target - but I typically try to plan a set $ for profit ..... say $30,000 - $40,000 per project depending on the level of work required .... definitely a nod to Breaking Bad
@Jeff Wallace That makes sense. You said the key is deal sourcing. I'm on the MLS everyday and a good safe deal comes by once every 3-5 weeks or so and immediately gets pounced on. Are you mostly getting off market homes? Also, checked out your projects on your website. Are those flips or a mixture of flips and rentals?
60% of our deals are off market through wholesalers - about 40% MLS - the website is not updated at all, although I think the properties we have on there are rental properties - Instagram is where you can see what we are currently up to
@Jeff Wallace The website may not be updated but what you have on there really jives with the mindset change that I'm going through. I've come to the realization, like many on this site and like yourself, that time is a non renewable resource. Like you're site says, "you cant buy more time". I thought that going to school, majoring in engineering and getting a good job was the way to go but a year into my job I found out that its not what I want to do for the rest of my life. Now, I'm gathering as much information to get myself out of here. I currently own my house and I'm rehabbing it myself after work and on weekends to take out a HELOC. I'll definitely check your Instagram out!
@Frank Gamez I have not, and have as much to learn about the local market.
Man, that's awesome - good luck getting out of the rat race
@Jeff Wallace Thanks man! Wish you the best in your investing! Really appreciate your openness to my questions!
@Nate Sanow Have you invested in other markets?
@Frank Gamez yes I bought twice investment wise in Oklahoma and moved to Houston in December. I was involved on some other investment properties & compensated for it but didn't outright own. I'm looking to eventually figure out if Houston is a good place for this type of investment, or if I will focus on making money here to invest back home.
@Nate Sanow Like I was talking with Jeff, if there's people flipping, then there's brrrr deals to be made. You should attend the meet-up this Wednesday in Montrose area of Houston. I found the meet up through BP. Just navigate to the Network Tab then click events. I think I searched Houston or something of that sort.
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