Single-family residence buy & hold investment in Houston, San Antonio, Dallas/Ft. Worth.
Purchase price: $46,000
Cash invested: $5,000
SFR in an area being revitalized in the inner city of Houston TX
What made you interested in investing in this type of deal?
The growth of the area and being able to get into this deal for a minimal amount down!
How did you find this deal and how did you negotiate it?
I found this deal from a co worker that had recently retired and was moving out of state! I convinced him to consider an owner finance deal and he agreed. I negotiated a 36 month deal at $800 a month, 0% interests with a ballon payment of the remaining balance at end of the term! I was surprised he accepted the deal.
How did you finance this deal?
Lessons learned? Challenges?
Ask the right questions and you may receive the right answers!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Brian Summers of Remax prestige,
Rene Sorola Properties Group, Ashley Starks
Senior loan officer Tyler Kelly @ Evolve Bank and Trust
Congratulations. That sounds like a pretty good price for Houston.
What's "inner city" in Houston" Ironically "inner city" at least in so far is in/near city core is where the more expensive high end stuff is (or lower in stuff in path of progress). Unless that's code for SE area which is manly black demographic (if so, not trying to put down your use of words, just trying to better understand where you're talking about)
Thank you all! @Tamara that was a hell of a first time flip! Wow. that place looked like it was hit by mortars! Wow Thanks for sharing the photos and inspiration!
@Nathan it is definitely a killer deal for a first time investment property in Houston! Wish i could get so lucky enough to get few more like that.
@Cody it is a predominately black demographic area and yes it too is in the cities "Steam roller" path in way of progress!
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