All Forum Posts by: John Preston

So by saying that, do you only buy rental properties or do you fix and flip as well? 

So I have a question for those of you who are "Real" Real Estate Investors...  What do you look for when purchasing an investment property? 

Newer build home in Iron Horse West Addition in Birdville ISD. This property is super clean and only needs updates to the bathrooms, kitchen, and flooring in certain areas. There are no comps in our subdivision, but given our square footage, the property should lease for around $2,000 per month. Appreciation is evident in the area. Multiple strategies for this property. Quick fix and relist or put tenants in it and let it appreciate. Contact me today for more information on this property, and to check it out. 214-997-0444

ARV: $299,000

Cost: $237,000

Rehab: $12,000

Rent: $2,000

This is a cheap little deal in the Cockrell Hill area of Dallas. It has a larger corner lot on two not-very-busy streets (one of them is a dead end) and is right near the elementary school. Rehab is pretty light--just interior cosmetics only. Houses are getting up to $157/sqft in this subdivision, and it should rent out easily for $1000/mo. Contact me today to check out the property! 214-997-0444 John

Price: $91,000

Rehab: $18,500 for a flip/$14,000 for a rental

ARV: $133,000 (appraisal available upon request)

Rent: $1000/mo.

Nice off market flip in Carrollton (Lewisville ISD) !!!! This is a well known-sought after area of the DFW with many properties going under contract within 24 days on average, around 120.00$/sqft for similar sized homes. Even though this home is a newer built project (2006) we are allotting enough money in the rehab budget to command top dollar once the project is done -with work needed in the Kitchen, Baths, Flooring, along with servicing of both the Pool and HVAC systems and other items. Call me today to check out this property! 214-997-0444 John

Arv-$570,000

Rehab-$60,000

Price-$396,000

This is a 4/2/2 1792 sqft--large for the neighborhood. Recently updated houses in this neighborhood are getting $100+/sqft with comparable rentals garnering $1600/mo. The exterior has recently been painted (now a light grey), but apart from that, the house needs a new roof and full cosmetics to get the right price. Contact me for more information, and to check out the property. 214-997-0444 John

Price: $110,000

Rehab: $22,400 

ARV: $159,000

Rent: $1600/mo.

Small Flip or Great Rental! Lows days on market. House needs a bit of everything. Roof looks good enough if you are to keep as a rental. If you were to flip, I would replace the roof. I believe you can get away with $25k for a rental and rent for $1200. If you were flip it, $30k should do it and at $104.34/sqft , which is much lower than the average, you should be able to sell quick. Contact me to check out the property. 214-997-0444 John

ARV: $149k
Cost: $93k
Rehab: $33k for Flip - $25k to Rent Out

Newer build home in Birdville ISD. This property is super clean and only needs updates to the bathrooms, kitchen, and flooring in certain areas. All bedrooms downstairs and upstairs have new carpet. The roof is new as well as the HVAC. There are no comps in our subdivision, but given our square footage, the property should lease for around $2,000 per month. Appreciation is evident in the area. Multiple strategies for this property. Quick fix and relist or put tenants in it and let it appreciate. Contact me for more information on this property. 214-997-0444 John

ARV: $299,000

Cost: $237,00

Rehab: $12,000

Rent: $2,000

Nice flip or rental in Arlington. Needs a full cosmetic updating and exterior work. Hardwood floors that can be refinished will save some flooring budget. Our garage is converted and I suggest reconvert back to hit ARV. Market rents show 1800-1900 a month so this would make a solid rental as well. Call me to check out this property today! 214-997-0444

Cost: $150,000

Rehab: $33,700

ARV: $226,000

Rents: $1800-$1900

Lochwood Fix and Sell or Rent opportunity. With the Right vision this property will sell quickly! This property has the feel of a duplex but with out the dividing wall. To keep for as a duplex and rent you will need to put back the dividing wall and updated the existing floor plan. For a Fix and Sell, some more floor plan modification will be needed along with a full cosmetic update. The final floor plan configuration is your choice, most sold comps are 3/2 and most rental comps are 2/2's. Lochwood is a fantastic area with remodeled houses selling for $215-$230/sqft. The subject property does sit in section that is less desirable but with an ARV of $199/sqft to make up for this fact. Contact me with serious inquiries only.

ARV - $442,000

Price - $270,000

Repairs - $85,000