Wholesale Opportunity in Texas

[Brian Evans]

ARV $240,000

Cost to Repair $60,000

Purchase Price $83,700

Overage Cost $10,000

Profit $86,300

This is just for the main house, there is a smaller house on this property too. 

his is a rare opportunity for the right kind of investor. This house has so much potential to turn big profits. This is a rare Colonial house built back in 1921 with real 2x4, Post and Beam. Hardwood floors throughout the house. 11 foot ceilings, large country kitchen, and the list goes on. If you were to restore this house, or rehab it to a modern house, you could produce a very large profit. Houses like this are selling in this area from $220,000 to as much as $300,000. There is also a second House on this property, that with some work could be an income producing property. Let me tell you some information about Crockett if you are not familiar with this area. Crockett is close to Lufkin. Like all of Texas it is slowly growing. There have been a number of wealthy people who have bought this rehabbed Colonials and set them up as their retirement homes. Crockett is very close to the Crockett National Forest, which is a hug playground for the outdoor types. Lots of potential here. This is a hard house to comp, due to its rarity. However I do have some comps and houses like this one which have been rehabbed and what they are worth.