All Forum Posts by: Account Closed

I just closed on a distressed single family home in Spring, Texas (N. Houston) with the intention of using the BRRRR strategy and am looking to use a different company for remodel than the one I used last time. Does anyone recommend a turnkey rehab / remodel company?

I put a distressed SF  (in Spring, TX) under contract over the weekend and curious if anyone has had an inspection that was only on the big ticket items?

I am thinking big ticket only because of its condition, I am buying as-is and only the high cost items could sway my decision to close. 

What are people in the Houston area paying for SF inspections? Is there a price per sf or other metric to consider?

Any recommendations in the Houston or Spring area?

Let me expand on the Subject line.

I understand that 1 to 4 unit properties are considered single family from a loan and valuation (comps) standpoint. Since I am looking at purchasing two fourplexs as one deal, would it be seen as a multifamily or two single family properties? 

I am trying to understand this from two perspectives:

1) Loan: commercial or two residentials? Commercial I would guess.

2) Valuation: Intuitively I will value based on NOI, but will the bank for the appraisal? Will the buyer when I look to sell down the road?

@Steve S. @Ernest D.

I would check our your local REI groups. Was at the North Houston REI group on Monday and an off market 4 plex was offered for sale by a member. The 4 plex is in Dickinson (S. of Houston). He asked 196k and gross rent is $2600. Message me if you would like his info. I saved the flyer.

@J Scott

Thanks for the response and will go that route. And I have to say, well done on "The Book on Flipping Houses"! 

I'm looking at buying a SFR in N Houston that has an empty lot next to it and the realtor says it is part of the deal. Any advice on how to vet if this empty lot can be used to build another SF ? Thinking I need to reach out to the appraisal district, but any guidance on what has worked for others would be appreciated.

@Rudy Hernandez

I am closing the sale on a house this Thursday in Spring, TX that I just rehabbed for a flip. I used https://www.keystonegt.com/ for tile floors and granite throughout. Some traditional tile and other that looks like wood. Highly recommend them and the price was fair.

Always good to see someone push through the hard times. 

What can you tell us about the 4 plex deal? Why this one versus any other?