All Forum Posts by: Haider Alazzawi

for a first flip! this is fantastic work. I would say you are a winner even if you break even on your first. I am on the same bout. Did one and stuck with the second. Hard to find a deal nowadays justify all fees and still make decent return. 

I am thinking about start marketing to sellers directly and try to find my own deals. 

I know more about the SW and surrounding areas. I moved to Houston Last year and Live in Sugar land. 

So to answer your question, it is all depends on what kind of return you are looking for. Some SFH still meet the 1% rent rule. It is tough market at the and not much deals available that make good returns. Wholesalers not leaving much meat on the bone and they are still able to move their properties. Small multi are hard to find coz they are very desirable. Stafford, SW and W Houston, some parts of Sugarland and Richmond are good markets for buy@hold.

I live SW and also new...... lets connect !!

Both of the above are active flippers. I met Jeff personally and I will vouch for him. 

Anyhow. Houston is so big and very competitive. You gotta know your area and buy right. Nowadays it is hard, actually super to get decent deals from wholesalers. They leave little margins and inaccurate numbers in most cases. If you use HML then it is very hard to make money on them.

medical center area is a big broad  and diverse. Many good and bad areas. some of them only a mile away from each other. So many condos and townhouses in the area too. PM me and lets talk over the phone and I can tell you a little bit about that area. 

Haider 

I am in Houston area too. Moved here few months ago. Done couple of flips in other state. Have he cash and know the basics. Have been looking at so many deals from different wholesalers. 99 percent of the deals make no sense. your typical issue is high arv, low rehab cost and high asking. it is becoming pretty normal to see them drop the price. 

Best way to find your own deals and you want to keep your flipping business going and not hoping that 1 out the 100 might make sense. The days for %70 minus rehab are gone or at least in the Houston area. 

Listen to Jay, i have read alot of his comments and he knows what he is talking about. The only thing i dont like about him is the fact he does not live close by!!!

500k+ is on the high end in Houston. It can afford high finishes. Your 500k plus buyers going to be picky and want nice houses to live in. make less profit but putting high finishes than aiming for more profit and taking the chance your house will sit on the market longer. Especially if you take into consideration the holding cost for such a flip and the fact this is your first flip. 

Haider 

WOW, so happy for you. now the fun start with reno. best of luck