North Houston BRRRR- Looking to connect with agents and lenders
Hello, I am in the early stages and need to build my team before I buy. I'm also trying to learn how to analyze the deals myself rather than just relying on someone else to tell me whether a property is a good deal. I am working on understanding ARV, comps, rehab costs, rental comps, DSCR, refinance proceeds, and having multiple exit strategies.
For my first deal, I'm generally looking for a single-family 3/2 under 1,700 sq ft, with a moderate rehab and enough spread between my total basis and conservative ARV to make a BRRRR work, while still having strong rental and resale potential.
If you are actively doing BRRRRs in the north Houston area, I'd love to connect.
And lastly, I'm not looking for someone to hand me a deal. I'm looking to build my network, learn, analyze deals, and build relationships with people who are actually doing this. Thank you!
Most Popular Reply
Don't over think it. If the cost is under 70% of arv there's enough 'meat on the bones' to exit into a fixed loan with cash out. This is the biggest mistake people make. Be real about that arv too!--Find 3-5 comparable sales under 1 year that confirm your belief. Know your exit before you begin. Also, start looking for the prospective tenants now.