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Updated almost 8 years ago on . Most recent reply

User Stats

71
Posts
26
Votes
Denise Mayo-Walley
  • Investor
  • Sugar Land, TX
26
Votes |
71
Posts

Houston BRRRR-ers - any success with finding properties?

Denise Mayo-Walley
  • Investor
  • Sugar Land, TX
Posted

Good afternoon fellow investors,

With Brandon Turner's faith in and success with the BRRRR strategy, I'm quite sure I am one of many in the Houston area considering taking the same approach to acquiring more properties. However, being willing to try it and being ABLE to pull it off are different. My main question is this - for those who have SUCCESSFULLY done so, how did you find your deal?

I certainly do not expect people to share the name or their wholesaler, but I would like to know where to focus my energy and time. 

*Did you meet your wholesaler at a networking event?

*Did you find your properties on Craigslist?

*Did you drive for dollars?

*Did you find your deal on the MLS?

*Did you do your own direct marketing? (I REALLY do not want to do this)

Like many of you, I get tons of emails everyday containing properties with over-inflated ARVs and underestimated rehab budgets that come nowhere near the ideal numbers for BRRRR. So, if majority of people did not come across their properties until getting out there and networking regularly, then I'll up my efforts to attend networking events. I just want to narrow down my approach and get moving in getting more properties!

Thanking everyone in advance for their responses! I so appreciate the BP community.

Most Popular Reply

User Stats

246
Posts
136
Votes
William E.
  • Investor
  • Pearland, TX
136
Votes |
246
Posts
William E.
  • Investor
  • Pearland, TX
Replied

@Denise Mayo-Walley

  • I've found 1 house in south houston at an auction @$35k + 25K rehab.. sold $120k 
    • held 5 years
  • 1 house near hobby airport from a friends relative that passed away @ 50k+15k rehab.. sold 160K
    • held 5 years
  • 1 house on mls inner loop houston 90k +20k rehab sold 250K
    • held 10 years
  • I Just bought a house on mls in legue city a few weeks ago for 125k +50 rehab (currently in process) ARV 250k
    • plan on holding a few years
  • just put an option on a house being built in Pagosa Springs, Colorado that i'll be using as a vrbo @450k - proforma and rental rates appear to be amazing. 

i'm not yet a wealthy guy, but i'm trying to get there.

  • I have talked with many whole sellers and investigated many properties, but i have not yet had them bring me a 'deal'.
  • I also have a direct mail campaign going on and get the occasional call, but also i have yet to get a deal from here. 
  • I have checked out portfolios of 'off mls' deals from realtors that know other investors. these are also not 'deals'.

i'm a part time investor and have been for a long time, but this year i'm trying to get more involved, although i think I've tapped myself out as far as my personal expenses on this VRBO opportunity. it will force me to find other investors to partner with. 

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