BRRR Deals in Houton-Katy Area?

[Kojo Orgle]

I moved to Katy/Houston last month and after purchasing my first SFH with a conventional loan, I quickly realized the best strategy to make money work is to BRRR, so I hit the books and listened to every podcast about BRRR. Knowledge of the strategy was great but after analyzing a couple (100's) of deals, I noticed properties that fit the BRRR criteria in the Houston-Katy area are a bit scarce. Does anyone have suggestions towards finding these deals; how to find them, where to find them, who to network with.

This is the criteria I am using:

SFH, C - B neighborhood, $60K - $90K towards $Purchase + $Rehab

ARV <= 80% of ($Purchase + Rehab + $5K Closing)

LTV after Refinance = 75%

Rental Income >= 1.2% of $Appraised Value

Cash Flow >= $150

Is this criteria unrealistic in the Houston-Katy market? 

Thanks in advance for the feedback!

[Ethan G.]

You and a million others looking for same thing at this point