New investor in Houston

[Robert Youngquist]

Hello community!

So glad to have found this site. I and my father have jumped into housing investment in Texas.  Primarily in Houston.  I live in the North near Spring. We are commited and hungry. We have some $ and available financing.  We have a wholesale contract available in Lubbock and are looking for projects to flip, rentals, whatever will work really. Any ideas, directions,  buyers...all is appreciated.

Thank you!! 

[Account Closed]

@Jeffrey H.  Your process sounds like it's working well for you.  I'm an expert in Killeen, Texas and I try to not go outside my lane.  I know real estate is very market dependent...and what works in New York or even Austin, TX....will not work in Killeen, TX.  We have some pitfalls here that investors need to watch out for. 

So, a little more on my flooded crawl.  The guy tried to use an adapter to connect PEX water pipes to copper water pipes.  When he left, it was working fine.  A few hours later, the tenant called me and told me the water cut off right in the middle of their shower.  I knew exactly what happened.  We turned off the water supply (took some timed) at the street.  I won't bore you all with the rest of the story.

My last input on this issue with Craigslist labor is "just be careful."  Whenever I'm messing with electrical, plumbing or foundation issues, I prefer working with licensed, insured businesses.  I stress licensed and insured.  You can hurt someone with faulty electrical work...and you can do a lot of damage to property with bad plumbing.  I'll pay more for the peace of mind and the legal protection every time.  You can lose your whole real estate empire with a valid lawsuit.

With low skilled jobs like painting, laying tile or carpet, I can understand going cheap.  As for me, I pay a little extra for all my contractors.  I know everything is gonna get done right.  We've done many jobs together from full renovations to "make-readies" so I don't even have to supervise them.  We have a real relationship.  They've been over my house for social events and I've been to theirs.  I prefer that.  I send them referrals and they send me referrals so everything evens out.

I'm not recommending anyone do what I do.  An investor's strategy towards real estate investing and balancing cost and risk is a personal decision.  I just know what works for me.