Fix and Flip in El Paso Texas

[Nicholas O'Hara]

Does anyone have experience Flipping in Texas? I am planning to buy a house and rehab portions that are needed such as (Floors, paint, entire bathroom and Kitchen). I want to make sure that I will be grtting a great return on investment. What should I look for to ensure that I am getting a good deal? I also hear about a recession coming soon. Will this be a good time to buy?

Looking for anyone's experience or Opinions.

Thanks

[Yasir Einaudi]

Hello @Nicholas O'Hara,

Are you new to real estate investing? Flipping is definitely doable in El Paso, it was named the most affordable city in the nation, so it's getting a lot of exposure from out of state investors (Specially CA) FYI.

The most important part of a flip is buying it right, location does matter - I have heard horror stories of flippers that come from other cities and want to implement the same strategies they did back home and they end up sitting on their property because they either bought too expensive, or in the wrong neighborhood, or invested too heavily in finishes that the comps of the neighborhood simply didn't have.

Study.

I suggest you read the book Flip by Clay D. if you are set with that strategy.
Also, be aware of costs, I know a lot of wholesalers that are clueless with the costs and just throw a random rehab number to the investor with the hopes they will sell the property.

Find a great realtor that is also an investor, I became one myself since I struggle to get the right guidance - there aren't many out there that are familiar with the construction and investing side if the industry.

Don't think you will make a ton of money on your first flip, be happy if you are able to walk away without a loss, I can guaranteed tho that you will LEARN a ton, and that is what you NEED right now.

Regarding the so called "Recession" I believe it's more a consumer's belief through influence of media showcasing the tariffs war etc, what we really now is that for it to hit us - RE investors - there has to be an alarming increase of foreclosures which guess what? they aren't. Look at the number and the trend, its actually going down. My 2 cents..

Good luck in your beginning! We are here to help!

Thanks,

Yas