Comments on Opportunity in Houston, TX - my 1st opportunity!

[Silas Kirst]

Hello, 

this is my first post to get your help to analyze this opportunity in Houston, TX (which will also be my 1st investment property). I have run the BRRR analysis and i think I have it linked herein, if not please let me know. The numbers seem very good in the report but I would like to get opinions of experienced investors.

It is a 648 sqft single family home on zip 77020, built in 1930, on a 1,346 sqft lot, it is being listed at $40K. The house is in very bad shape and will require tremendous amounts of rehab, so i am not sure that $25K will cover everything.

Nearby listings show that it has a potential to more than double in price if properly repaired (potentialy $85K). Also, the rentals in that region are higher than I've seen in other regions in Houston for houses this size (average above $1,300/mo). 

All your comments are more than welcome.

Thank you all for your help.

Regards,