All Forum Posts by: Trey Watson

I dont mind at all

Full disclosure: I work for New Western.

We find properties that we know investors will buy, get them under contract, and wholesale them to our list of investors. They could be landlord/rental properties or they could be fix and flip properties. Typically the properties will need some amount of remodel or updating either way. 

That price range is pretty competitive. 

Try looking at some of these subdivisions:

Kenswick- Humble

Timberlane- Spring

Williamsburg- Katy

North Forest- Spring

Northglen- Cypress

These are closer to bw8 and grand parkway. Mostly 70-120.

@Brian H.

We don't allow investors to contract properties without providing us with a proof of funds, so that situation should not arise.

I agree with Fred Heller, I don't think you'll find anything for 100-150 inside the loop post 2000. As far as oil prices go, I would think the affects on value will be more severe on those who have rental properties deep in the suburbs- such as the new build master planned communities in far west katy, nw spring into cypress. The reason being, the cost of these homes is often too high to justify the rents. Generally you want rent to be at the very minimum 1% of your market value, otherwise it's not worth it- to most investors. 

Example: Buy and make rent ready all-in price: $100,000

Target rent: At least 1,000/month

That's just an example. Some investors want more, which is attainable in Houston, but I know from speaking to clients that on average, 1% is about as low as anyone will go. 

We have several clients out of California who we wholesale to here in Houston. Let me know if you'd be interested in discussing how we do that and maybe you can get some ideas. 

Hey David, what side of town are you looking on and what is your method (buy and hold or buy and flip? We supply wholesale property pretty much all around town. 

Hey Kaz we supply non MLS buy and hold properties. PM me if you have any questions.

(To see charts, pictures and graphs, you may have visit my BP blog to enlarge.) 

Area of Analysis: Oak Forest- 77018- Houston

Oak Forest is an up and coming subdivision just north of the 610 North Loop that intertwines with a sister subdivision- Garden Oaks. The general style, build and feel of homes in these 2 subdivisions are very similar, although I am only analyzing Oak Forest. Most of the homes here were built in the 50's and 60's but within the last 5-7 years, there have been many tear down/new build projects in the area with very large homes (3000-4000 sqft) ranging anywhere from 500,000-1.2 million. Basically there are 2 types of investors that come into this neighborhood- people who renovate and flip properties and people who tear down and build new homes. Either way seems to be working for many.

What I did here first, was attempt to illustrate the activity in the neighborhood by graphing the number of homes sold each year within the given time frame (August 1st- February 28th).

I then figured out that the average non new build home in this neighborhood is around 1500 sqft and is equipped with 3 bedrooms, 2 bathrooms and a 2 car garage. I used the comparables available for each year, to price out what a 1500 sqft home (renovated) should sell for at that time. This is an attempt to illustrate changes in value. I used actual price and price per sqft to show both perspectives.

You can also see AVG days on market, but there really is no annual trend here. It's really about what time of year you list, not which year you list.

As you can see, prices have been climbing for the past 15 years, regardless of the 2007-2008 recession. Prices may have stalled during this time...maybe even dipped a little, however, I don't think people realize how little impact the recession really had on Houston housing prices. (It definitely affected it, but not to the doom and gloom degree that many think).

I hope this is helpful.

Let's get more wholesalers on here