

Cash flow Crisis!
Hi, this is my first blog ever, and I am really excited to stretch myself, get out of my comfort zone, and tell my story. I have been wholesaling for 7 months now and I have done 3 deals. I have had more than 3 deals under contract and I have lost alot of deals. With each deal I get better at my craft and more ambitious. What I want to talk about today is a deal I am trying to get done in Houston TX. You see, I am from Scottsdale AZ, and I have decided to start marketing in Houston TX. Main reasons for me doing this is....I have been told Houston is a hot spot right now and an investor that I was working closely with told me about a great opportunity here. Anyway, with my first mailing campaign to Houston, I was able to get a great response and I also have got a nice little portfolio under contract. I have definitely been learning while puting in action. This is my first portfolio to work with and getting all the pertanent info for this deal has been a little different than the info you might get for a single home. Also, I am working with townhomes, and from what I have learned in the little investing time that I have spent, townhomes and condos are much more difficult to move than typical SFR. Either way I am very confident that I will sell these properties because I have motivated sellers and what I believe to be a good deal. I will continue to search for my buyer and keep everyone posted. One thing this deal has taught me is, there are a ton of different ways to find buyers. I have sent this deal to facebook (which is an awesome place for deals), flyerus.com (sends massive email to realtors), craigslist (10 different cities), myhousedeals.com (interesting networking site), and have now gotten back to biggerpockets, which I think is a fantastic networking site, and hopefully I will sell this puppy soon! Have a great day! and oh yea let me tell you about my deal. I have 12 townhomes under contract in Houston, TX. All units rent around 800 and I am asking 38K per door. HOA is 138 and the taxes are a shade over 1K per door. 8 units are occupied and 3 units are being filled now. 1 unit is undergoing renovations right now.
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