All Forum Posts by: Linda Young

Hi all,

I am considering buying a house that is in pretty good shape and mainly needs cosmetic updating. It has an ARV of 195-215k and I will offer 130k. There are probably no more than 30k in updates needed. My hesitation is the back yard view. It backs up to a water tank and metal building. A tall wood fence will help some, but not hide it all. My strategy is to make the inside so pretty that the backyard will be overlooked. It is in an established neighborhood and has been bought and sold several times. Thoughts?

It should have a house manager that basically runs it. Be sure you know what your state requires as far as applying for the license transfer in a timely manner. Here in Texas you must apply at least 30 days before closing on the facility.

Thanks Mark! Ideally I would like to stay in the Spring, Tomball,or even Montgomery area. Basically north of the beltway. Sales for me have slowed a bit. Other agents have been super busy. That is why I am looking forward to flipping, to get some cash flowing again. Plus, I have wanted to do this for years. I think I can get funding now, just looking for the right property!

I think the location may play a part. This one is not in the city, but more in the country on acreage. It is beautiful, but maybe not as convenient for families to come visit. I think you need to have the right contacts as well. 

I am a realtor with one of those for sale. It is hard to keep them full. 

Welcome Mark! 

I am new here as well but it is a great wealth of information! I live in the Spring area but work all over since I am a realtor. I am looking to fund my first flip. I have done the rental thing years ago and I had a difficult experience with one of the renters. It left a bad taste in my mouth so I want to fix and flip. 

Your building experience will be valuable in checking out homes you want to buy! Good luck in your adventure!

Linda

Thanks for your reply, Nick. I am preapproved for a rehab loan with 20% down. But that type of loan takes 45 days to close. I have spoken to one HM lender, but they had over $5500 in fees over and above regular closing costs. Are all the HM lenders going to charge that much for the convenience of a quick close?  

Please contact me Albert if you will work in the Spring area. I am buying a large house to flip and need a GC. Thanks, Linda

Hi all,

I have only been a realtor for 2 years but I am ready to buy a house to flip. I could sure use some advice for how to find the right property and what to offer. I hope to keep the price under $160k or so. 

Here in Houston there seems to be lots of cash buyers. They have gotten all 3 homes I made offers on! 

I would love some advice! Tell me first what would scare you away from buying a house?