Rehab Underway!!!

[Jonathan Harris]

Rehab Underway

I wanted to share with everyone our most recent property we purchased here in Houston in mid January. We found this property through a flooring sub we have used in the past. The break down on the numbers for this property are as follows.

ARV- $100k

Purchase Price- $39k

Repairs- $15k

There are no major repairs needed. The flooring throughout the house needs to be installed. We are removing and installing new drywall in the living room. We are removing/reworking a shared wall between the kitchen and living room. All the rooms will be painted. We will be installing new kitchen cabinets and new appliances as well. There is a pool in the backyard that we drained, had inspected and filled back with water. The inspection came back with no issues on the pool. The good news is that the bathrooms were remodeled by the previous owner prior to us purchasing the house, there is a brand new HVAC system and new double pane windows were recently installed as well. I have a few before pictures that I can upload sometime tomorrow.

Overall a fairly simple rehab. My business partner and I also own a niche construction company. This has given us some pretty good subs for most all trades so this has been very beneficial for us. We are about to start our first mail campaign as well and are looking forward to that. Our goals this year are to do 8-10 rehab and flip properties. Our strategy is to flip for capital and reinvest that capital into cash flowing properties.