What Would You Recommend?

[Jon Gillett]

If you had reasonably good access to capital and a very talented construction/maintenance team at your disposal with excess time on their hands, would it make sense to start flipping houses?  How would you approach it?  I've recently stepped into a role overseeing a small commercial real estate firm in Houston, and am looking for cash generating projects.  I'm pretty sure if I could source projects, I could fund them directly and get most of the work done well at low cost.  But I don't know where to begin.  I deal with commercial tenant improvements, general improvements, marketing, and maintenance on an ongoing basis, but have no experience at all in residential rehab.  What is step 1?

[Nikolas Ferreira]

so from what i read here the first thing i would do is FIND A DEAL. 

you will need sources for your properties, now there are several ways to do this some easier some cheaper it all depends on what you are comfortable with. 

option 1 - most expensive (imo) - get with a few real estate agents tell them what you are looking for and let them HUNT the MLS listings for you in hopes to find deals that will work. no work on your side just sit and wait plus pay the mls premium.

option 2 - less expensive - get with the wholesalers around Houston get your name added to their "buyers List" and wait for them to send you their off market listings, keep in mind that this is a personal thing and they normally send the deals to their primary group and if no one buys it then it goes out to the masses. 

option 3 - (best imo) do your homework on the areas that you are interested in. get in touch with someone that does direct marketing and do a marketing campaign in said areas, a little more leg work for you but the benefits are def worth it. 

personally i tried option 1, then i went on to options 1 and 2 and after still not getting anything that makes sense i decided to go with option 3 and so far it has been the best choice I've made.  

if you have any questions feel free to send me a message

Happy Hunting
Nikolas