Seabrook, TX flip - Adam Buys Texas Houses

[Adam Metzler]

Investment Info:

Single-family residence fix & flip investment in Seabrook.

Purchase price: $91,500
Cash invested: $50,000
Sale price: $198,000

Complete remodel for a great house on 26k lot in a No HOA area close by Kemah. Turned out great! Rehab was less than 5 weeks and a few days into in being listed on MLS we have multiple showings and offers. Under contract today!

What made you interested in investing in this type of deal?

I know the area, the seller contacted me from seeing my information on Facebook and liked what I had to say. This was a seller in need of reality and she respected my transparency so she sold her house to me. It was a deal I was interested in because of area and I knew it was going to be a hot seller once transformed!

How did you find this deal and how did you negotiate it?

The seller contacted me from seeing my information on Facebook and liked what I had to say. Found me from being friends of another investor she talked to about this property actually.

How did you finance this deal?

Private lender from my JV partner

How did you add value to the deal?

Found the deal, negotiated win/win/win for seller, JV partner and myself...helped with Vision for transformation and lead to our SOW.

What was the outcome?

Less than 2 months holding, rehab completed less than 5 weeks and under contract a week after being listed.

Lessons learned? Challenges?

Keep active and be real with people, most respect that and it's how I got the deal. Challenges, tight budget and we wanted to do more so I had to put a little of my own work in the rehab.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Working with my JV partner Chris Bounds with Texas Ideal Properties has been a great experience and relationship builder. As well our GC Fast Track did another amazing rehab!