All Forum Posts by: Account Closed

@Jenae Young- I was a GC for 22yrs, Andrew had the perfect response so re-read his post.

@Timothy Church is the go-to guy on the island, and rentals especially. @Bruse Unger you should get with him and he will not do you wrong.

The best way is to build a relationship with a local realtor who will sit with you and establish rules of what to look for when doing comps for you.

If they know you are serious, and they are too, then they should be happy to help you. You should find a good one upfront anyway, that way if you get the deal (even if no realtor is involved on their side) they can watch the rehab/remodel and be well informed when it comes time for them to list/sell/rent your property.

I like the way you laid this out. I am curious what the rental value is, but regardless a big repositioning project for residential is awesome.

Building out to build value is a big challenge. Good luck to you! I am sure itll turn out great.

If you decide to go the Galveston TX route, you should reach out to @Timothy Church. He is the pro on the island when it comes to these investments.

Don't go to groups or meetups or clubs. They are either full of vultures or newbs spreading rumors that will cause more harm than help.

Don't give up, every "fail" is closer to a win. You will need a lot of "fails" to get a win.

Don't get desperate for a deal and do one that isn't a deal. Emotions can blind your reason.

Real estate agents aren't going to find you a deal, very often. If they know what a deal is they either buy it themselves or have investors already that do.

Bandit signs are a crime, and a waste of time.

If you aren't sure if your "deal" is a deal, take it to a hard money lender. If you need to bring more than 2 points and closing cost to the table..its not a deal.

If it sounds too good to be true...

There are NO real wholesale companies. None. They ALL fabricate numbers to make things look like they are profitable then say, "investor must review numbers" and just toss enough newbies at them until someone doesn't read the print or someone who reads but ignores it. 

Pay professionals for services. i.e. get inspections, pay for estimates from G.C.'s, consultant, or professional estimator, pay your sales agent an extra point if they get it sold in 30days. (insure they make all those showings on Saturday.)

and of course, don't give up.

Tons of great deals in League city, and w/in 10miles. Great part of town to be in to start your adventure.

Good luck

What part of Houston and what size project?

Where? WHat size project? A, B, or C?

I have a deal I just bought in Galveston, like everything everywhere...just research A LOT. Galveston is an odd place in how the numbers work when it comes to comps. Its very different block by block.

Good luck!