All Forum Posts by: Drew Walker

Appreciate the comments  Leigh,  I'm looking to assign this to  a buy and hold investor, if not I will  update it a bit and put it on the market for retail. 

Hello BP,

Property Summary: 2 bd/1 ba; 1000 - sf living space; 101sf - uninsulated storage; 1.5 stories; Built in 1987; window units, 0.83 acre; large well and septic system; insulated workshop/well house - 384 sf; mower shed - 192 sf; parking pad, cement - 24'x24'.

ARV: $75,000

Repairs/Updating: $5,000 - paint, cleaning, misc.

Rent: $650

Price: $52,000

Reply or PM me with e-mail address to receive more details and photos of this property.

-Drew

Thanks for the feedback guys!

@Dennis Rodriguez yes from now on I will be mentioning cash will be payed at closing. And yes very true about Texas and the CHL.

@Belinda Lopez my website just says I offer cash fast, but maybe the seller would misinterpret that and think I was bringing cash. But those are very good points to consider crime stats and DOM. The average DOM seem to be around 90 days which I think is high. Also the RICH club sounds like a good place to network in Houston so I will try to check them out!

Hey BP,

I am new to real estate investing and would like to find a more experienced investor / wholesaler / flipper who would help me check out a property to estimate costs and possibly get under contract. We could split the wholesale fee or whatever is most fair.

I have spoken to the owner of a house near the downtown/midtown area of houston who claims the house is fully paid off and is currently living in. My calculated ARV is about 163K so I offered 115K minus repairs and set up an appointment to view the property tomorrow.

I also have a safety concern as the property is not in the best neighborhood and my website says I offer cash, so how do I ensure safety while going through this process?

Thanks,

Drew

Hey BP,

I have just started to take action in real estate and really want to succeed by wholesaling and flipping houses. I started a direct mail marketing campaign almost 2 months ago and have received a handful of leads. Since I am new and don't know the best way to negotiate with potential sellers and estimating rehab costs etc. I was looking to pass leads on to someone experienced in the Houston area and if that lead turns into a deal I would be able to observe and possibly partner up with. If anyone is interested please send me a message.

Thanks,

Drew

Appreciate it guys.

@Trevor Shakiba Thanks!

@William McGowen ya I think I saw something about those expos but thanks ya I'll check out that show.

@Mehran K. Ok I will definitely make sure to add a contingency factor for time and materials/labor in my budget. And I'm currently reading both of those books in parallel which have been very informative. Thanks for the tips!

@Sharon Tzib Thanks! That's good to hear, I will check out her website for more marketing information. Also, I am targeting one zip code for cost savings. I used list source to filter high equity properties in an area I'd like to invest and narrowed it down to ~360 addresses and ordered yellow letters for them and plan on following up on them every month 5-7 times as you have mentioned. I would be willing to bump up mailing addresses some but not sure how much I should be spending on marketing. Also, hope you enjoy Houston and atleast you will be avoiding some of the heat later this year!

@David A. Ok thanks! I'll make sure to constantly check the numbers and account for the details.

Hello everyone,

My name is Drew Walker and I am trying to get started in real estate investing. I have been researching investing strategies for about 4 months and feel like I have established a working foundation and am ready to take action. I appreciate all the useful information so far from the members on biggerpockets and have learned a lot. Currently I am working full-time as an offshore structural engineer in the oil & gas industry but I would like to establish a side business in real estate. My main goal in the future is to buy and hold; however, since I have limited capital my short term goal is to fix and flip SFH's in Houston.

With guidance from biggerpockets posts, I have made a lead generating website and have recently ordered yellow letters targeting high equity owners for a single zip code. For rehabs I plan to use a GC and use hard money loans to fund projects. I am still trying to familiarize my self with estimating rehab costs for houses and think this will be one of my biggest learning curves but am willing to learn however I can.

Thanks again to biggerpockets and its members and I look forward to getting involved!

Drew