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Rehabbing & House Flipping

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Daniel M.
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Flipping house diary- First project in Texas

Daniel M.
Posted Aug 5 2022, 11:11

Hello everyone, 

After quite sometime, I finally landed a good deal where the numbers work for me. I've done a few projects in the past, but they're nothing compared to this one. It will be fun to share the progress and I'm going to be asking for feedback here. I'm planning on subbing a good chunk of the project. I'll eventually give the project to a GC but I might just sub it all myself. I think it will be a great opportunity to learn all the ins and outs of a full renovation. I'm planning on asking questions here and hopefully some you can chime in and give some feedback. 

Purchase price: $52,000

Reno budget: $65,000

ARV: $180,000

Rent: $1,300

This house is located in Kirby, TX. it's a 3/1.5, 880 Sq Ft. I'm planning on BRRRing this property. Here is a dropbox link to the house.

https://www.dropbox.com/scl/fo...

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Robert Finn
  • Realtor
  • San Antonio, TX
104
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Robert Finn
  • Realtor
  • San Antonio, TX
Replied Aug 5 2022, 17:05

Congrats on this deal! There's no education like first hand experience, looking forward to hearing about your next successful deal! 

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Jak Carsten
Pro Member
  • New to Real Estate
  • Orland Park, IL
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4
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Jak Carsten
Pro Member
  • New to Real Estate
  • Orland Park, IL
Replied Aug 10 2022, 18:42

This is great! Thank you for sharing. I’m definitely following this post. We are planning on moving to San Antonio very soon and will quickly pursue opportunities to do our first flip. Hope it goes well for you!

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Rick Pozos
  • Wholesaler, Rehabber and Landlord
  • San Antonio, TX
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Rick Pozos
  • Wholesaler, Rehabber and Landlord
  • San Antonio, TX
Replied Aug 11 2022, 05:05

Hey @Daniel M.the only thing is that if the home is not your homestead, the city is going to require that you hire a licensed contractor to pull the permit to remodel the home. You can not pull the permit. Kirby is really strict on what needs a permit. You should definitely talk with the city to see what you need a permit for and what you can do yourself. Neighbors are horrible about calling the city. If there is too much noise, or dust or whatever, they are calling the city to see if you have a permit.