Wholetailers in Houston, TX
Hello community. I am in Virginia. A property was brought to me by a seller in Houston Texas. The street is Rice Blvd in the West University Place area. I have become a bit familiar with the area over the last few days, but would like input from more experienced investors/realtors in that area. The property in question comps out between 895k (low) to 1m (high). The property is a 3/2 vacant but in good condition..the seller bought another property for 2mil and moved to that one. As stated earlier, I am in Virginia and I am not looking to take this down myself and relist. I am thinking my exit strategy would be to get the contract, sell to investor buyer..and the investor buyer could do cosmetics and list on MLS for retail end-buyer. My question is, with regards to the Houston area investors, what profit margin is reasonable? This is not a trash house that needs a ton of work, its lendable, and already livable, just not listed. Any insight would be appreciated, thank you in advance.