Anyone familiar with Kaufman Texas???

4 Replies

Hi all,

I am new pretty soon to Bigger Pockets. First I would like to say I love the site, and the forums are an awesome tool. Here is my questions/situation. Over the last 10 years I have invested locally in Orange County and Los Angeles CA. My career is in B2C direct marketing. I recently started to dabble in marketing directly to consumers looking to sell their properties cash in my local market, targeted by area code. I received a lead of a gentleman with a socal area code, but owns a property in Kaufman Texas he is looking to sell. On the surface I feel the deal is worth exploring more. Here are some idea's I had. I would love some opinions.

House specs.

3 bed 2 bath 1700 square feet.

target purchase price 50-60k. Lots of major repairs done in the last 5 years (roof, foundation repairs, hvac, pool resurfaced)

Needs cosmetic remodel. (Paint, floors sanded and stained, carpet in bedrooms.)

1. BRRRR From my initial research this home fits the model. Let's say the purchase price is 55k, and I have 10-15k in getting the home rental ready. 65-70k invested. ARV 110-125k. Since I am not familiar with the area I put a wide range here. My estimate is the home will rent in the $1000-$1200 range. My concerns are this. It seems like a nice, but smaller town. I don't see myself buying more properties in the immediate area. I have a very busy career, and my time may be better spent in the area's I am familiar with.

2. Buy the home cash and flip to a investor familiar with the area. They can choose to make it a rental, or fix and flip.

Thanks for reading, and I am looking forward to reading what you all think.

To your success,

Nate

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