All Forum Posts by: Dustin Oien

@Account Closed thanks again for your feedback!! Yeah those town homes are popping up everywhere it seems! 

hi @Account Closed! Thanks for replying. It might be Independence Heights then as the location has many new town home-style builds. The home is on Herkimer in between 15th and 16th st and east of Shepherd. Where is the dividing line for Independence Heights and Heights proper? 

Hello BP community! 

I'm looking at a potential wholesale deal in The Heights area in Houston, TX. Average price for new construction in this area is between $600K-$1M. What I am curious about specifically is this: How much would a home builder look to profit off of a build in this part of town, and what should i anticipate their build-out costs to be per sq. ft? My initial instinct is leading me somewhere to the ballpark of $250 per sq. ft.  

I'm trying to determine this info so that i can benchmark this into my wholesaling strategy in this particular part of town. It's a super hot are of Houston and home prices continue to rise as old homes are being torn down and new ones rebuilt in their place. 

If anyone has any knowledge of not only this are of town specifically, but also building costs in a hot market such as this, that would be of great help! 

thank you in advance friends!

Hi Jason, late to the conversation here. are you still looking in the Houston market? are you looking for turnkey or would you be willing to pick up off-market properties in need of some rehab?

@Matt Berklacy thanks man, yes this would be a good friend of mine who has expressed interested in getting into investing but he doesn't want to do any legwork.

 @Rick Pozos I'm going to call up my buddy and see if he even has any idea of what kind of terms he would be interested in. Odds are, this would be his first time investing into something like this as well...

 @Anthony Dooley : Thank you for your feedback! Certainly gives me a lot to think about still. You mention "if the deal has a lot of upside", what do you mean by that exactly?

Hello fellow BP friends! 

This evening I just came across a buy-and-hold opportunity that would yield a 10% cash on cash ROI. I used the BP calculator and my knowledge of the local area to decipher the details of the deal. Now i want to approach a friend of mine who has expressed interest in funding a deal.

I'm completely new to the game and know very little about approaching a private lender, and what specifics they are going to be interested in (besides an attractive ROI).

What are typical lending terms of this nature? How soon do private lenders expect to be paid in full (plus their appropriated ROI %), or is that something that is completely negotiable? I tried searching this topic in the forums/blogs but couldn't locate this specific topic so i decided to start a new discussion.

Thanks very much in advance for your insight you can offer here.

PS: here's a link to my analysis, in case anyone is interested in checking out what i've found/drawn up...

https://www.biggerpockets.com/calculators/shared/847416/8399fbce-70c6-40f3-a719-f287d76f1cd8

@Jose Castillo

hey Jose, i've enjoyed reading your posts man, how's everything going now? I see your last response was from 3 months ago. How's your success been??

greetings all experienced wholesalers, flippers and buy and hold investors in the Houston area! My name is Dustin and I'm trying to get started with my own investing career and would like to volunteer my time to anyone that needs help with any mundane tasks that you could stand to dish off to a newbie such as myself. I want to learn from the ground up about what it takes to be successful in the world of REI. I'm not looking for financial compensation in this endeavor, more over, the invaluable knowledge that can be bestowed upon me by an already established and successful investor. If anyone is in need of help, please send me a PM? Thanks very much in advance everyone!

Hi @Gordon S. I'd love to join in on this! can you PM me the details sir?