All Forum Posts by: Andrew Dao

@Account Closed Thank you! This property is on Wilcrest and Bellaire. 

Purchase price: $85,000

Rehab: $60,000 

All-in: $$145,000

Current ARV: $180,000

I just refi'ed and was able to cash out $135,000 so a little cash got locked into the property.

The house literally needed everything from foundation repairs, to a new roof, all new plumbing, electrical, and a full interior gut.

This property was initially 1600 sf, but it had a courtyard patio (house had a U-Shape layout). So I decided to build an addition to enclose that into the main space making it the new dining room allowing me to expand the kitchen 2X. 

Im always looking for opportunities to add value (whether its a bedroom, bathroom, living space, etc.) in order to essentially create deals that other investors may have overlooked.

The add-on created an additional 200 sf in which the appraiser valued at $100/sf giving me an extra $20,000 in value. Now I have a kitchen that is now twice the size and a new dining room that connects the living and kitchen together creating a super open concept which I can enjoy for the next few years living here.

@Michael Thoma Thanks! I have a fourplex out in Richmond I was considering house hacking but the location was too inconvenient for me so now one of the units is an AirBnB and the other 3 are long term rentals. I definitely recommend house hacking in general, especially if you're first starting out. You'll learn a lot, save alot of $ in living expenses, and also you'll be on site to manage the property as well (but still factor in 10% management into your numbers). You can do it!

Im house hacking a 3/2 SFR in Southwest Houston using the BRRRR strategy. Renting out one room to my cousin and the other to a friend and their rent covers the majority of the property expenses. When I move out and rent it out to a family it'll cashflow. Went a little overboard on the rehab since I'm living in it but overall it's working out and its keeping my living costs low. Here's a few before and after pics and I'm open to sharing the numbers as well if you'd like.

@Mark Sewell Hey Mark can you please PM the handymans info too? Thanks!

Hey Alexey I'm in a similar boat as you. I studied Architecture at UH so naturally I'm very interested in buying land with the intention to build on it.  I've done a handful of flips and started focusing on building my rental portfolio this year 2017, but have yet to break ground on development/new construction. Have you started to look for properties/land? If not, Fifth Ward, Eado, and Independence Heights would be good places to start.

I'm looking for a great CPA that specializes in real estate (flips, rentals, and development) and I trust the referrals of my fellow investors here on BP. If anyone is willing to share I would greatly appreciate it! I am in Southwest Houston so someone local would be awesome. Thanks!

@Bukola O. Hello Old could you please send me the CPA info as well? Thank you!

@Lyall Storandt Hi Lyall could you please send me the CPA info as well? Thank you!