All Forum Posts by: William E.

there are several companies out there that sell these types of lists. 

a quick search found me this one.

https://www.datamangroup.com/refinance-lead-lists/

i've used other lists in yellowletter campaigns, but hadn't specifically searched for 'refinance' before.

@JC F.

rehab. complete gut job (pier/beams,roof, plumbing, electical,etc.)

if you read my other post i went into more detail. 

Never done it myself,  but you could always get the house raised above the floodplain.

https://www.dawsonfoundationrepair.com/cost-elevat...

Id do a cost benefit analysis to see if it was worth it to raise and fix it up. Or build it from scratch. It all comes down to the numbers. 

@Menal Khan

Many of those houses are old pier and beam. Make sure to check for termites and wood rot under the house if this is the case. It costs me a lot when the inspectors and the contractors didn't check this before bids. 

Also there are good streets and there are bad streets in the area. I'd make sure you're comfortable to walk through the neighborhood alone day or night before purchasing a specific house. you never know when a crisis may arise and you'd have to make a visit to the house. 

also as @Faraad Mohamed stated. it truly comes down to the numbers, just make sure you have extra cash in case something goes wrong. 

Thoughts?

B

Off the top of my head, why not live in it and get the homestead exemption so you don't have to deal with taxes, or try to do a 1031 exchange to avoid the taxes by rolling the money into something bigger, or several smaller places?

@Mark Derecho

I live in Houston and that's comparable to what I've paid for my last few foundation issues. as @Costin I. points out there are some extra costs associated with foundation work. 

As an alternative you can raise/level/stabilize a house with expanding foam, the downside is they will drill holes all throughout the bottom floor to inject it.  i had a house with a sinkhole in the middle of it that i had to do this to resolve the issue and raise the cracked middle. 

Either way, make sure you always start with the foundation work when doing a rehab. 

Thoughts?

B

Spend your time finding a good deal, don't spend your money on a bad deal. 

That being said. there are variables that could turn the deal into a good one, but we don't have enough details to give you better advice.  

• whats the location? 3rd ward? 5th ward? EADO?
• What type of house?
• year built?
• were permits pulled converting a 3/1 to a 5/1
  
  • I've heard horror stories of people having to convert a house they bought back before they could get permits to do additional work
• you say turnkey, but with section 8, it usually isn't turnkey. 

if you don't want to share publicly, PM me an address and i'll let you know what i'd pay and expect as ARV based on the location, comps, and images.

• many of my renters are college students (where their parents cosign) and only plan on being around for a year or so. 
• i also have one that has a trust that will pay rent, so he can pick up and leave and anytime. 
• one renter was out of a divorce and didn't have the credit to get a good mortgage

all of these people are willing to pay between $1600-$2500 to rent my houses. 

It also helps that they don't have to fix anything that goes wrong with the house. 

start with the podcasts and work your way through the free books and webinars provided on this site. 

https://www.biggerpockets.com/financial-independen...

https://www.biggerpockets.com/podcast

@Cody L. I used to go to these Auctions. I ended up making a killing (*a matter of perspective*) off a house i bought from the courthouse steps. I'm curious what you would be interested in.

@Trenese L. Monroe

check out these links.

• HCAD access files. - http://pdata.hcad.org/download/
• other resources - http://www.hctax.net/Property/Resources
• daily court review although it is a pdf (you need to pay to get access to it)
• or the law firms representing the sales - free
• http://www.pbfcm.com/taxsale.html
• http://taxsales.lgbs.com/map?lat=29.83418726925056...