All Forum Posts by: Nam Pham

Currently working through a BRRRR and wanted to get your thoughts on whether I should invest in floor leveling and lifting? My GC is recommending it to be thorough but it is costly. Would love to know your experiences and thoughts.

Thank you!

@Nam Pham Assume likely an older property on a pier and beam foundation, as compared to a slab foundation?

Thanks everyone. The building is from the 70s on pier and beam foundation. We're talking about leveling the whole house. I'd say it's liveable but definitely noticeably unleveled.

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Beaumont, Texas

Hi Everyone,

Thank you!

1 Vote

Beaumont, Texas

Hi BP Community,

I'm a real estate investor looking to grow my portfolio in the Beaumont/Golden Triangle area. I'm looking for a realtor who's fluent in buying homes that require rebab, has local real estate knowledge, and can give blunt recommendations.

DM me if you think there could be a fit here.

Thank you,

Nam

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Beaumont, Texas

Quote from @Jake Baker:

@Nam Pham

Contracts: Have a detailed contract outlining the scope of work, deadlines, payment schedules, and materials to be used.

Updates: Establish a schedule for regular updates, such as weekly calls or video conferences, to discuss progress and any issues.

Project Management: Utilize project management tools like Trello, Asana, to track progress, manage tasks, and store documents.

Documentation: Request regular photo and video updates. Set standards for what needs to be shown in these updates.

Networking with Local Investors: Build relationships with other local investors who might provide recommendations and insights about reliable contractors and suppliers. I find my contractors all through referrals.

Milestones: Structure payments in milestones tied to project completion stages. Avoid paying large sums upfront.

Online Payment: Use secure online payment systems to manage transactions and keep records.

Permits: Ensure all necessary permits are obtained and required inspections are passed before proceeding with payments.

Thanks @Jake Baker and everyone else. This is super helpful!

Does anyone have recommendations for a great general contactor with a strong track record in the Beaumont/Golden triangle area?

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Hi Everyone,

Can anyone share their experience managing general contractors remotely? Any tips you could share would be greatly appreciated.

I'm Canadian investor looking to BRRRR in Texas so will not be in person.

Thanks!

1 Vote

Quote from @Nicholas L.:

@Nam Pham

have you invested in other areas and looking to expand to here? or would this be your first?

i don't know anything about this market specifically but i have done several BRRRRs.

Hey Nicolas. Looking to expand here and would love to learn more about the area!

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Hey everyone,

Trying this forum as well! I'm looking to BRRRR in the Beaumont/Golden triangle area given the low price-to-rent ratios and availability of inventory below 100k.

Would be grateful if any locals or investors in the area could share some pointers.

Some topics that would be very helpful:

-Has anyone BRRRRed here previously? How was it?

-What is the rental market like? What is the going rate for a 3 bedroom detached?

-How bad is the weather? Is it a major concern?

-What is the price range for property managers and general contactors? Any recommendations?

-Any recommendations for realtors who are fluent in this space?

-What are some areas for avoid? What areas are good?

Appreciate all the help from this awesome community!

0 Votes

Hey everyone,

I'm looking to BRRRR in the Beaumont/Golden triangle area given the low price-to-rent ratios and availability of inventory below 100k.

Would be grateful if any locals or investors in the area could share some pointers.

Some topics that would be very helpful:

-Has anyone BRRRRed here previously? How was it?

-What is the rental market like? What is the going rate for a 3 bedroom detached?

-How bad is the weather? Is it a major concern?

-What is the price range for property managers and general contactors? Any recommendations?

-What are some areas for avoid? What areas are good?

Appreciate all the help from this awesome community!

1 Vote

Beaumont, Texas

Thanks for this! That's very helpful.

The reason I'm looking at Beaumont is because it seems to have a low rent to price ratio with a fair amount properties under 100k. Any concerns?

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Hi Everyone,

I'm a remote Canadian investor looking to do the BRRRR in the Texas area. Real estate in Canada is just way too expensive and impossible to get positive cash flow.

What cities would you recommend as opportune areas for BRRRR? I'm currently looking at Beaumont but open to other areas.

I'm setting up my corporate structure as we speak but would love any advice you're able to share. Has anyone seen recent success doing something similar? One area I'd love more info on is how to manage general contractors remotely.

Appreciate any pointers you're able to share!

0 Votes

All Forum Posts by: Nam Pham

Nam Pham has started 6 posts and replied 10 times.

Post: Floor Leveling and Lifting for BRRRR

Post: Floor Leveling and Lifting for BRRRR

Post: Looking for Realtor in Beaumont Familiar with BRRR

Post: Managing General Contractors Remotely

Post: Managing General Contractors Remotely

Post: Investing in Beaumont/Golden Triangle Area

Post: Investing in Beaumont/Golden Triangle Area

Post: Beaumont/Golden Triangle BRRRR Advice

Post: Best BRRRR Cities in Texas - Canadian Investor

Post: Best BRRRR Cities in Texas - Canadian Investor