Hey BP! I've got a lead on a property in Beaumont, TX and and looking for some help analyzing the area and market there. I live at least 2 hours from there and don't really know how to go about getting the info I need. If all checks out we are ready to put in an offer. This is my first deal and its all very exciting, just dont want that to over ride the logic.
Here's some basic info about the property:
Duplex located in the Historic Oaks part of old downtown. From my research this is a residential conservation zone. Per the seller there's an additional detached shed that has water running to it that could possibly be made into a 3rd unit if the city will allow it.
The deal works without the 3rd unit but I think we'd be able to use the BRRRR strategy and make it into an amazing deal with the 3rd unit added. Of course, I don't know if the city would allow it and I'm not sure how to go about finding out if they would. I cant find a single triplex in the area either through searching the MLS, so Im not sure what the ARV would be anyways.
Any help is appreciated! Thanks!
