All Forum Posts by: Andrew Thomas Vedder

Hey BP members, 

Foremost, thanks for taking the time to view this post! Any information you can provide for me is truly appreciated. 

I am trying to comprise a formula to effectively find off market properties in the greater-Houston area. This formula should be effective in terms of time and money spent generating leads and it should be repeatable. With these leads I hope to find properties that I can fix and rent out or fix and flip. I am struggling to find distressed properties with motivated sellers and it has led me to waste a lot of time researching with no success. 

How do you find distressed off market properties? Do you pick an area, drive around, and leave a business card at the front doors of distressed properties? Do you pay for leads? Do you use online tools to locate possible leads for you?

Again, any insight as to how you find distressed properties in your area would be appreciated. 

Thank you BP members.

I’m 30 minutes southwest of Houston and I’ve been seeing more properties come on the market. Houses are currently going for about 5-10% under listing price. 

Welcome John good to have you. 

Hi! I think a medium term rental is a great idea for your area but if you can only do 250 sq feet in an ADU perhaps renting rooms out in your single family resident is better. It would mean less privacy for you but it would save you time and money.

Just my two cents. 

I start with the FEMA flood map then I've gone and knocked on neighboring doors to the property I'm looking to purchase. I'll ask how the drainage is on heavy rain days and how the neighborhood drainage did during Hurricane Harvey. The sellers disclosure SHOULD disclose whether or not the property ever flooded but it's always good to cover your bases.

 I’m attending the open house on 4/18 6PM for StepStone. Looking forward to hear more about their brokerage. @Timson Sunny

 As a newly licensed agent who is also looking for a brokerage to hang my license with, I’m curious. Who were you with and what did and didn’t like like about the brokerage? Thank you. 

Thank you Mr. Lee!  

Interesting post with good tax information for STRs but I’m not sure it stirs discussion. I’m a novice on tax law so I found it informative. Thank you!