All Forum Posts by: Trey Watson

There is no license for a GC to my knowledge, but there are licensed electricians, plumbers, etc...

We've wholesaled several properties in Cimarron. The link for the south loop property wont work though. I have a property that fits that criteria in 77021. That area is filled with opportunity and I think will appreciate quite a bit over the next 5-10 years. 

As far as a hold, you'll likely have trouble renting a home at 2700 in spring (not saying it cant be done but i think you'll have a tough time.) Since Oct 2015 there have been 130 homes that have rented for 2500 or more within MLS area 10,12,13,14 which covers spring and also some parts of The Woodlands, cypress, and humble.

I did some quick math- I'm interested to know how you come up with 15k in profit...I think there is a little more room in that deal, closer to 20 or so. Its a 77% deal (Purchase+repairs) which is a decent deal. 

15k using hard money in that price range is pretty common. If your down payment is only 50 or 60k though, the roi is great. Don is right though, the margin for error is slim enough to where a major problem like a pipeline would make the deal...not a deal.

@Don Nelson Im not sure about the market in colorado, but in Houston those are decent margins. Im confident I could sell this deal to most of my investors who are flipping in spring (Assuming those numbers are accurate and there are no quirks about the house such as adjacent to commercial or on a main road.)

I would stop developing. Call Jana Cavazos (shes an r/e agent), she knows a ton about it and has a guy on her team that is an eminent domain expert and has helped alot of people in Houston. 

PM me for her info

I dont think it can be broken down by zip codes in Houston...too many subdivisions within those zip codes with too much variability.

There are many factors to consider when deciding if something is better as a flip or as a rental. I think one of the most important factors is to make sure your monthly rent is at the very minimum 1% of your market value. (100k purchase= minimum 1000/month rent)

Unless you are inner loop(610), most Harris county, fb county and montgomery county homes over 250k wont meet that criteria, simply because the rents wont be high enough. 

When investors ask me what I think the ideal sfr price point is for Houston- currently I tell them 80-110 purchase- rent 1200-1500. Expect 5-20k in rehab. You can find deals like that in spring/cypress, pasadena, baytown, la porte, some places in Katy and north of Katy, missouri city....really all over the city. You just need to find those attractive pockets where inventory is low, and buyers/renters want to live there.  

Hope this helps

Ashoka Lion Property Management is great- Jay Raman and his partner Sateesh run it and they are industry experts. They also rehab properties, if needed. 

Can you send the information over? [email protected]

Always consult with an attorney first but from my experience as a wholesaler/licensed agent the TREC contract is the best choice. 

@Dan Naughton are you open to buying from wholesalers? 

@Account Closed we specialize in finding/wholesaling sfr for investors. Are you open to any level of rehab or are you primarily looking for turn-key (no rehab) properties?