Great opportunity in West Texas - looking for Partner / Advice

[Michael Clarkson]

Hi Folks:

Just starting by REI business, and have an opportunity in West Texas for a great deal on a clean property which needs mainly cosmetic upgrades (carpet, refinish kitchen cabinets, some landscaping, etc.). Broker feels we can snag the single family home for $225K, and with some rehab, ARV should be $375K. 4BR, 2.5 bath, 3600 sq ft, ranch style.

Since I am so early in my new REI career, I could use a seasoned partner on this deal.

Any advice, etc. is greatly appreciated!

Thanks,

Michael

[Greg H.]

@Michael Clarkson 

Not sure where the property is located, but be extremely careful in West Texas with your numbers.  That market has seen skyrocketing appreciation in the last several years and with the price of oil cut in half in the last few months, there is bound to be some cooling

I have done a few flips out that way,  feel free to contact me with any questions