All Forum Posts by: KeShea' Kluesner

Massive, Massive Equity Opportunity!

3 bedroom/2 bath, completely renovated SFR in Galveston, TX, attached to unimproved corner lot!

$230,000.00!!!

Built in 1947, 1 block from Offats Bay. Excellent short-term rental opportunity! Attached to an 3,000 square foot lot that can be subdivided and sold or developed for further income potential! The property is completely renovated to command top of the market pricing. 5702 Fraser Avenue is a completed remodeled 1,626 square feet, with new plumbing, new electric, A/C and heating system - 3 independent units. New extra wide stairs added, new flooring, down and new carpet upstairs, relocated bathrooms, custom deluxe showers, granite vanity tops, huge, living and dining open to brand new deluxe kitchen with granite countertops, beautiful Spaniard mosaic backsplash and brand new appliances. All windows and exterior doors have double pane impact resistant glass with UV light filter. New balcony added to master bedroom.

Room measurements are below:

Living/dining area 24’ x 20’

Kitchen 10’ x 15’

Bed1:12’x13’

Bed 2: 11’ x 12’

Master: 16’ x 14’

The land will be divided in half at closing. New address will be 1723 57th St. (lot for single family house

3,000 sqft) and 5701 Fraser Ave. corner Lot (3,000 sqft)

It'll go FAST!!!  Close date: December 3, 2020

Call KeShea' @ 713.540.5503 for showing and additional details.

@Paul Costick, you might add a clause in the JV to assess your equity position and make a determination to maintain the buy and hold or consider selling, at certain points in the future. An investor may or may not have a different perspective and set of goals for maximizing equity than that of a contractor. Just a thought. Good luck!

Hi there Phillip, I'm not extremely knowledgeable about this strategy but I imagine that this setup might work near our universities: Texas Southern University and the University of Houston. This area (3rd Ward) is ripe for investing now. Hope this is helpful!

Dawn KeShea' 

@AJ H., I would stick with the strategy: add value by rehabbing it it, then refi. #3, definitely. God luck!

Whitney... SWEET suggestion!

Thank you!!!

KeShea' 

Thank you all for taking time to read about our dilemma and offer valued feedback. Points well taken!!! We will carry out a modest rehab and post it for lease, or sale, and see what the market says. If we can not sell it for a profit, we will have learned valuable 'on the job lessons' and we'll just add it to the rental portfolio. It's only March 10th, so we still have time to work toward our first flip goal!  :-) 

Thank you again!

KeShea' Kluesner

What would you do?? We recently took a chance and decided to invest outside our immediate area in order to secure deals – a potential first flip or affordable rentals with good potential rental income. We have been buy and hold investors for the last 6 or so years. On last year, we bought a cute 3/1 in Beaumont, Texas for $45k. It sits on an acre and has lots of potential. It requires between $50K - $90K of repairs. I really wanted this to be a flip but sales in the area are slow or barely existent. Should we pursue the flip, and renovate at the higher repair amount, pushing our rehab budget closer to $90K or should we be conservative (or safe), do the bare minimum to get it ready to rent, and maintain it as a property that will be held as rental??? This could be a solid BRRR. Just some additional info: holding costs are around $650/month, and we owner financed the purchase… our first owner finance! Rents should come in around $1,400 monthly. Our ARV will be somewhere are $130K. If we added a room we might be able to increase that amount. I look forward to your feedback! THANKS! KeShea'

Hi Trottie, I'm an investor specifically interested in this area. Please add me to your buyers list.  Thank you,

KeShea' Kluesner

Hello, what's the status of the proprty? Thanks!