Realtor · Sugar Land, TX · Member since 2017 · 22 posts · 24 votes
Hello Everyone,
I have started my first wholesaling mail campaign in the Spring Branch and Sugar Land (77498) area, and have spoke to a few sellers. I wanted to see if there were any Rehab/Fix & Flippers that do business in these areas, so that I can get a better understanding of what they are looking for in a deal. That way I am able to zero in on deals when they come up.
Any help would be much appreciated - especially also on repair estimates, rebuilds, etc. I am still learning a ton and taking as much action as I can!
@Jordan Petty up here in Dallas we have a lot of networking groups that we find through MeetUp. Might be a good site to poke around on.
Thanks Andrew. I have attended a few meetups here in Houston, especially a new BiggerPockets one and have met a bunch of investors, but very few rehabbers. I should look for a meetup that is more for rehabbers.
Investor · San Antonio, TX · Member since 2015 · 227 posts · 66 votes
8y
@Jordan Petty, awesome that you want to wholesale. I flip properties :) I don't know about others, but some of the things that I look for is that the area should have good schools, low crime (C & B neighborhoods work very well). I like the houses to be a decent size, not to big (the bigger the property, the more money into the rehab), anything below 2000 sq ft. I know a lot of rehabbers buy flooded homes, I prefer not to, but since it is hard to find deals that are not flooded AND makes sense number wise, I am looking into homes that flooded a little bit.
Now, with that being said, you will find flippers who flip in all price levels. I am looking at ARV around $170k. But there are people who do luxury flips, and people who flip houses that are even below my price point. But I would say that in order to hit most investors, you would be safe to find a house with ARV of $200k and below. Make sure the numbers are on point though. Too many wholesalers get a bad reputation because the numbers they estimate for repairs and ARV are very far from what is really needed.