All Forum Posts by: Frank Gamez

 Thanks Sherri! I'll reach out to Elizabeth.

Hello, I'm a Land flipper. I primarily work in texas and alabama but I'm looking to expand into missouri markets. The problem is that I don't have access to sold land comps because missouri is a non-disclosure state. This is where that investor friendly agent comes in! All I ask is for is 1-hr or 2 of your time per month and in exchange I will pay per deal that I close. No listing, no showings, just comp pulling. I can explain my strategy if you'd like and how i've acquired $150k equity in land my first two months of going into business. Thanks in advance!

Hi Milton, as a land flipper in TX/AL how could I obtain access to the MLS in missouri markets? TIA

@Adriel Hsu Hi Adriel, Yes you put it very concisely. Kitchen/Bathrooms full gut and then new paint, floors, door, trim, fixtures i would consider a a medium rehab. 

I'm looking at wholesale deals to flip and I'm just curious as to what things i should look out for when buying from a wholesaler? I understand that running my own numbers is a must but what else should i look out for?

Hey all. I'm trying to systematize my analysis/due diligence process for flip properties. I'm wanting to speed up my rehab estimation portion of the analysis but don't really know what are good baseline numbers for the price/sqft method to go off of in the Houston market. Is a light rehab $10/sqft, medium rehab $15/sqft, and full rehab $20/sqft?  I understand that this is not an accurate enough system to base your whole business off of but I'm wanting to get ball park estimates first and then diving deeper with a contractor instead of wasting the contractors time giving me bids for properties that don't make sense from the get go. Any insight is much appreciated!

@William B. I always wonder if and how people are making profits off of 85% deals! I'm just fed up. Are you having luck with direct marketing? I'd imagine that fewer homeowners are wanting to make a big move right now in this state of limbo that we're in but distress is motivation even in a paused market I suppose?

Is there anyone in the Houston area that is flipping houses in this economy/stage in the cycle? I see a ton of wholesalers posting their deals left and right but is anyone flipping their deals and making a profit? The numbers don't seem to be working for me. Just curious to know if anyone else is seeing this trend. I've analyzed about 50-60 deals in a 2 month time span, and I'm starting to think that maybe I'm not running my numbers right?

I should start by saying that I am not an economist at all but for this same reason is that I feel the need to educate/inform myself on what other really smart people are saying about the US economy. Back in 2016 I purchased my house for $65K from a probate. At the time the house was appraised for $110k. It is now worth $160K through forced and natural appreciation. My plan was to sell it by the end of 2020 and wait for the housing market to crash or at least soften up a bit. I was basing my strategy off of J. Scott's recommendation to save up cash because everyone knows that "cash is king" during a down turn right? BUT what if this down-turn is no ordinary down turn like billionaire Ray Dalio is preaching??? Ray Dalio is saying that actually, "cash is trash" because what is coming is not merely a market crash or a housing market crash, what is coming is the collapse of the US DOLLAR. I'd love to hear everyone else's thoughts on this and what implications a devaluation in currency has on the housing market?

Oh I see. I thought it was a pretty linear thought process to infer that since unemployment rate rises, people can't afford housing, thus bringing prices down. I wasn't aware that the two didn't go hand in hand. One more question, do you believe the market will keep climbing indefinitely?