Residential Redeveloper from Houston, Texas

[Tue Huynh-Nhut Vo]

I am a recent graduate from the University of Houston. GO COUGS!!

I listen to BiggerPodcast all the time and I am actively helping my friends and family get involved and excited about real estate. 

I love talking about real estate and especially the numbers. So here are the two deals that I've done with my partners.

Deal #1

Acquisition: Family looking to upgrade 

Purchase: $37,000 cash

Rehab: $7,000 cash

Rent: $750/mo

Tax+Insurance: $100/mo

ROI: 18.6% 

Deal #2

Acquisition: Marriage of convenience and liquidation of assets 

Purchase: $52,000 cash

Rehab: $25,000 cash

Rent: $1400/mo

Tax+Insurance: $150/mo

ROI: 19.5%

My key takeaways from these two deals are to save the 10% for maintenance and CapEx, leveraging contractors better and more often, and to not use my own money.

We're also looking to refi mortgage and double our portfolio in the next few months. This should shoot our ROI up and help convince private money lenders to invest with us on our flipping ventures.

If anyone has any questions or advice please reach out. Thanks for reading!

[Tue Huynh-Nhut Vo]

@Cameron Tope

Thank you for the reply!

I believe the ARV on the second house is 110k. We did most of the rehab ourselves and it was full gut minus sheetrock.

Yes we’re looking at bigger deals now so we can afford to leverage more contractors. We’re actually meeting this Thursday to do just that!