All Forum Posts by: Garrett Brown

 I was just about to mention size of the place really matters because families book so far in advance. I agree with mostly everyone and say 30 day minimum with strict. 

Hey Rick, I'm an agent in Houston. Feel free to shoot me a pm and I can pull some numbers for you. 

@Anita Fulton if you want me to pull some comps for you, just let me know. 

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HM Houston Remodeling did good work for one of my clients

I can second on Chris Moore of Noble mortgage. Met him and know he works with some good people. 

Yes, Ned is spot on. I'm not sure what guides you read but there are quite a few improvements that will drastically bring the value of the home up. The old quote "Kitchens and bathrooms sell homes" is extremely true for this along with other things like flooring and curb appeal. Estimating repairs and closing costs is one of the hardest things to do and takes some time/experience of just crunching numbers on deals. Just to give you a ball park of estimate ideas, I usually take the sq ft of house and do some math based off pics and what I know. I'm in Houston so please take this with a big grain of salt because all areas around the US are different. This is just a super basic formula to get some numbers flowing

15$ per sq/ft = Minor rehab

20$ per sq/ft = more serious rehab

$25 per sq/ft =. been gutted and needs everything

This doesn't apply to major things like Roof, Foundation, A/C, etc because those can vary greatly. This also could go up depending on how high end of a home you have vs. basic flip vs. rental. 

I grew up in Angleton, which is about 20 minutes away from Texas City. TC is definitely a very plant/blue collar based city. A lot of workers come in here because a lot of major plants are located here particularly. It’s a nice quiet rural town. Crime isn’t bad but it definitely has it’s sketchy parts/activities based on exact street location. You will find a lot of C+ to C- properties there but a lot of potential with the right deal in place. There is only 1 high school still to my knowledge. Baytown Or Bay City are other great areas. 

As obvious as it sounds, it all comes down to the deal, repairs, etc. Your price point will be higher but doesn’t mean more profit necessarily. You can make 80K on a small house or 80K on a large. You can always lose money or break even on both. If you have never flipped a high end Comp, then you could easily make mistakes in so many ways (not knowing the market and what buyers like, overpaying, bigger house = bigger issues/$ if needing fix) Numbers always win and knowing what you are exactly getting into

Does anyone have experience of renting out individual rooms on a long term basis out of a duplex/triplex? Basically, I've come across a property that is a duplex with 4 bedrooms/2 baths/kitchen in each. The current owner rents out each room for a year long basis but with option to leave with at least 60 days notice. It is a very big oil area near Houston and people come to work and leave a lot. They all are currently rented and the rents he collects are great compared to expenses. Everything makes sense from my looking but this will be my first investment property for myself so I wanted any info on doing this type of approach. I have helped on investment deals but never my own so I always have a sense of reserve. I'm stuck between this deal, a house with garage apt to airbnb, or a duplex/triplex. 

Thanks for posting! Always great info to have and pay attention to. Houses are definitely getting higher DOM's in general lately in the area. I was just cruising the MLS for some things and saw quite a few properties that I believe are very reasonably priced and have very high DOM's.