BACK IN ACTION we are blessed to be in such a great market!

9 Replies | Austin, Texas

Welcome back Lexi and Matt! I hosted an open house in the same neighborhood this afternoon and I had 3 guest stop by who had been there already. That listing is the talk of the town!  

@Lexi Teifke @Zachary Barton What's the big deal about that 1410 Bellmar in RR? 

135K, plus closing, plus at least 45K in rehab (has foundation problems, needs new roof, is built in 1982...willing to bet 45K+ plus required)...with an ARV of maybe 200K?

@Costin I.  I haven't analyzed it as a flip. But I spoke with SEVERAL people who had viewed it yesterday. It was, sadly, unsurprising that one listing at that price point drew that amount of traffic.

I sold one across the street, in Eggers Acres, a couple of months ago that had similar issues. From what I understand the buyers where buy and hold investors and didn't plan on doing much of a rehab beyond the foundation repair, around 20K. At 135K+20K+CC = 160K you could rent it for $1350/month-ish. So, it’s close to the 1% rule... It’s not a home run deal but it seems likea lot of cash heavy investors are willing to buy. On that note, it could make a decent house hack if they buyer puts in a large enough down payment.

200-210k ARV seems about right.