How are you guys feeling about Sharpstown? Houston TX

[Stanley Ezeadi]

I was on my way to check out a neighborhood for a potential property and I happened to see all of the new development in the Sharpstown area surrounding Houston Baptist University. On top of the new commercial developments I am also seeing a lot of newly renovated SFH properties in the 77074/77036 zip code. I know growing up the area was filled with crime but do you guys believe it can maybe make a come back? I'm buying a House Hack pretty soon which I will rent by the room (SFH) but I'm not sure if the area is a decent place to live yet. The commute to work inside the loop is pretty nice. What are your thoughts on the area?

[Isaac Magee]

Funny that you should ask…

I just completed my first Flip (Yay!). Coincidentally, the property was located in Sharpstown; and to answer the question, I think Sharpstown is an awesome place to Flip or Hold. Before you take my advice, please keep reading.

This is not one of those “I did awesome” stories; this is more like “I survived and I have the scars to prove it” story. I purchased the property from a wholesaler using a local Hard Money Lender to finance the purchase and rehab. I interviewed about 10 general contractors and did not select the cheapest bid. Ten critical mistakes and 13 months later, I was able to sell the property and be spared a slower death. So, I’ve made all the mistakes you can make and I’m an open share if anyone wants more details. The numbers…

Acquisition: $120,000

Rehab Cost: $90,000

Holding Cost: $24,700

Sales Price: $245,900

Net Profit: -$1,082

Duration: 13 months

https://www.redfin.com/TX/Houston/7622-Troulon-Dr-77074/home/30155807