Newbie Flipper in San Antonio, Texas

[Damanique Williams]

Hello everyone my name is Damanique and I'm a first time flipper from Houston, TX now living in San Antonio.  My goal in real estate is to use flipping houses as a vehicle to financial freedom. I am a counselor by profession but after years of obsessively watching and being inspired by HGTV, My husband and I bought a fixer upper in Denver Heights, San Antonio, TX 78203.  Our original plan to live in it while we renovated it to then rent out-thus beginning our journey as landlords.  (Both of my grandmother's had rental homes which greatly helped in their older age, so that was always my plan). After about a year of slowly renovating (doing any work we could do ourselves) we noticed property value in the area was rising. 100k+, 140k+ homes were now on the market, and these homes didn't have what we do: a corner lot, garage and a safe family friendly park across the street. We decided to have this house be our first flip, and have begun to change the layout to maximize profit.   The home is 3 bedroom, 2 bath and a realtor estimates the home will be worth 120k once renovations are completed- though I feel like this is a low estimate compared to prices nearby on trulia. ( I would love input on recommendations for on affordable yet professional contractors, electricians, plumbers, painters, etc). In addition, we are considering being our own realtors in selling the house because we want to maximize profit for our next flips. (Which will likely be two 50k homes in or near our neighborhood). What are the pros and cons to doing this? We do not have good credit and will be using profits from our initial flip to fund future flips. Any advice you would give a first time flipper? Anyone have helpful information about older homes (built in 1923) just east of downtown San Antonio? Thanks so much for reading this! Any and all questions and comments would be greatly appreciated!

[Mario Gutierrez]

@Damanique Williams,  You are right about the listing prices for homes going UP!  It's great that you kept an eye on the market in your neighborhood and didn't get so focused on your slow flip that you would miss the signs.