Looking to Flip in Houston, Texas

Rehabbing & House Flipping
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Looking to Flip in Houston, Texas

Ayo F.
Houston, TX · Member since 2011 · 50 posts · 8 votes

Hello All,
I just joined this forum today. I came across this forum while I was researching on the "Lifestyle Unlimited" mentoring program in Houston.

I am a new real estate entrepreneur currently based in Charlotte NC. I will be relocating to Houston, TX next month.
I used the term "real estate entrepreneur" because i'm primarily interested in flipping properties. I am in no position to buy and hold as I have student loans and credit card debts I need to pay off first.

I currently have a day time job and I have been trying to jump start my real estate business.

Please, can anyone flipping properties in Houston enlighten me about the possibilities of flipping in the current Houston market.

Also, I would like some recommendations on active hard money lenders in the Houston area or any other areas of the country that supports transactions in Houston.

Thank you all

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Steve M.
Realtor · Gallatin, TN · Member since 2009 · 292 posts · 164 votes
15y

Before you put a penny on the pavement, read these boards for about 5-6 months. Take a look at some of our member's blogs (J Scott in particular if you are interested in flipped -- his site is www.123flip.com)

Study your region, and study it well. Learn the lay of the land, the players (banks, CPA's, contractors, other investors) and network like crazy.

I would stay away from gurus and "mentoring programs" The knowledge and info you can learn on biggerpockets in just a matter of a couple weeks far outweights anything you will be able to learn in a program ... Plus, BP won't try and sell you on anything ;)

I've now been in our new location for about 18 months, and I'm finally starting to get a grasp of our area. Started to network, getting friendly with some REO agents, and still learning the ropes myself.

Those are my thoughts :) Spend as much time on BP reading as you can.

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  • Steve M.
    Realtor · Gallatin, TN · Member since 2009 · 292 posts · 164 votes
    15y

    Before you put a penny on the pavement, read these boards for about 5-6 months. Take a look at some of our member's blogs (J Scott in particular if you are interested in flipped -- his site is www.123flip.com)

    Study your region, and study it well. Learn the lay of the land, the players (banks, CPA's, contractors, other investors) and network like crazy.

    I would stay away from gurus and "mentoring programs" The knowledge and info you can learn on biggerpockets in just a matter of a couple weeks far outweights anything you will be able to learn in a program ... Plus, BP won't try and sell you on anything ;)

    I've now been in our new location for about 18 months, and I'm finally starting to get a grasp of our area. Started to network, getting friendly with some REO agents, and still learning the ropes myself.

    Those are my thoughts :) Spend as much time on BP reading as you can.

    2Reply
  • Danny Day
    Developer · Houston, TX · Member since 2008 · 488 posts · 121 votes
    15y

    Welcome AggieInvestor!

    I am in the Houston area - Looks like we are neighbors.

    You are in the right place to learn about this type of business. Read as much as you can and soak everything up here. This site has a lot to offer.

    Houston-

    Right now houses are staying on the market an avg. 6 months. Some areas more, some areas less. Of course this can be shifted based on your price, marketing, etc.

    Houston has some areas that are being redeveloped, and other areas that are growing.

    The Heights & Bellaire are being redeveloped. Bellaire is having homes taken down to put up bigger ones. The Heights has older homes that are being remodeled.

    Cypress, Katy, and Pearland are all growing areas of Houston. These areas are moving "out" of town. You can find deals in these areas from $40k - $400k. It all depends on what you're looking for.

    There are people who are flipping in Houston right now. Some realtors here will tell you that doesn't exist. Move on and find another one.

    For hard money, I would recommended ISB capital. They have a great reputation around town, and with other investors alike.

    If you have any other questions you can send me a message.

    Good luck

    1Reply
  • Ayo F.
    OP
    Houston, TX · Member since 2011 · 50 posts · 8 votes
    15y

    Thank you Steve, I have been spending hours reading various topics here. I agree with you about networking...Someone once told me that real estate is not about location, location, location but relationship, relationship, relationship. What networking strategies have worked for you? Do you attend your local REIA meetings to network?

    Danny-

    Thanks for your response, I have heard that the Texas market is the best in the country right now and I was in Houston for the holidays and saw a lot of constructions going n. I also visited the heights and saw exactly what you talked about.....lots of remodeling going on.

    Are you marketing (as in direct mail marketing ) for deals in houston or are you getting your deals from Realtors?

    Are bandit signs frown upon by the city?

    0Reply
  • Brian Boe
    Real Estate Investor · Houston, TX · Member since 2011 · 23 posts · 2 votes
    15y

    First: full disclosure - I am a member of Lifestyles. For those who are not familiar with them, they are affiliated with REIA. It is a mentoring group with a very reasonable entry point cost. You will not be inundated with people pitching products. It will happen on rare occasions. I agree with you. It is very much about relationships and networking. My $.02 - if you are going to flip, the areas mentioned in previous posts are quite expensive. There are tons of neighborhoods where you can get properties at 45-75 cents on the dollar. These are great for flipping, but the basic lifestyles model is buy/rehab/hold. There are folks who flip, but the majority in LU are in the landlord business. When you get to town come to a meeting. It is very low key, low pressure.

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