All Forum Posts by: Adrian Butler

Looking to work with an realtor to purchase SFH property in the Allen TX area (within a 30 mile radius) with Buy/Hold and BRRRR experience and connections with trustworthy contractors. Please send me a direct message.

I found the East Texas Builders Association and called every multi family unit builder on the list.  Hand full of people actually called back.  Business must be booming.

I've recently negotiated a tract of land in East Texas with a mobile home that needs to either be rehabbed or torn down.  It's located specially in Clarksville City, a town adjacent to White Oak but in the Gladewater ISD.  Clarksville City is an old East Texas oil town and very a quiet community without much rental properties to get a feel for how a rental property would do there.  I am leaning towards leveling the existing structure to build a 3 or 4 pled unit.  Otherwise I would have to put $45k into bringing it up to rental quality.  It would be fantastic to connect with someone with rental properties in this area.  Constructively input is greatly appreciated!

Does anyone have a list of recommendations for solid residential builders in the Longview, TX area?

Hi Dane, thanks for the reply and my apologies on the late response. Great point you bring up. Although I do bring a certain amount of capital into the deal(s), I am just getting started with REI, so I bring a limited amount of capital. The ideal situation is have two to three investors bring $100k cash to a well planned out deal, finance 90% of the property's before repair value and use the remaining cash to rehab and sell. I am seeking one and possibly two capital and sweat equity partners with equal contribution on both sides.

I hold a full time job, have a pregnant wife (due in May 2017) and a 1 year old son. Although I am busy with work and my personal life, I do have about 20 hours a week that I can dedicate to REI and keep my family happy.

Before Repair Value:  $150k - $300k

Rehab range: $10k-100K

Area of Interest:  Dallas (north of downtown), Richardson, Plano, Allen, Frisco, McKinney, Prosper, Celina

Seeking: minimum $50,000 cash liquid, preferred real estate licensed partner with access to MLS and REI background, experience in rehabbing, organized, strong communication skills, creative, willingness to knock on doors and organically draw leads, available nights and weekends at minimum, and etc.

I currently have a partner in place, but it seems to be stalling out and not going anywhere.  So I am taking the proactive approach and looking for an experienced investor on BP to help spread my risk.  With the holidays coming and people slowing down, the market conditions are more in favor of the buyer with plenty of time for April/May's market uptick to do a rehab.  

Send me message if interested or can recommend someone.  Thank you.

@Jeff Berg great idea and on point with how things should be evaluated on a renovation project.  Make sure to look at the top valued comps to see how they were built or renovated to know how to tailor a rehab.

I agree that a property needs to fit what would cause a strong urge to buy right away.  Which lead me to post this topic and see what everyone who is willing to share their ideas, post what they do to all or most of their properties that are easy successes (low hanging fruit) or custom touches that they feel create a brand for themselves.

Thanks for the reply @Brian Pulaski, very nice finish out and great idea.  

Something that is not commonly preached in rehabbing and I feel it should be stated more frequently to the less experienced REIs is when looking at a property to rehab and budgeting, you allow the property to set the budget and not allow the budget set the rehab.  I have seen homes that exemplify the budget setting the rehab and the investor either sits on the property way too long and/or doesn't see the return they thought they would see.  If the property requires a rehab greater than your budget or experience to rehab correctly, then walk.  Know your limitations and be careful in not getting in over your head.

With that said, of those who do buy, rehab and flip.  What custom touches do you systematically add to your properties that you feel is a brand or representation of your work that agents or buyers recognize as quality?  Or hope that people recognize.  

I feel that adding a touch of modern technology to tie in with today's digital world stands out as well.  However, I am curious what everyone else does to stand out.

First I am not familiar with your market.  However, your market may allow for that low of cash investment and you are likely hoping for hard money or other private money.  Despite what you hear on this forum, hard money is not cheap and we are getting into the holiday season where contract labor tends to get a little scarce.  If you decide to bite off on a flip deal between now and mid to late December, you will need to factor an extra 1-2 months carrying costs as the market usually picks back up in March/April timeframe. 

My advice is get a partner to spread the risk of educating yourself on the first few deals.  

Good luck to you.