All Forum Posts by: Paul Zofsak

I am working on my fourth investment property and have been buying everything from the big box stores that was not supplied by my contractors. Is there a better place to buy materials in Houston other than the big box stores? That being said I understand I will probably get a better selection at a tile store than Home Depot, but will the pricing be any better? Prebuilt cabinets, lighting, granite, lumber, vanities, appliances, sinks and faucets, doors, paint, etc. where are you all buying from for your flips/rentals?

I am working on my fourth investment property and have been buying everything from the big box stores that was not supplied by my contractors. Is there a better place to buy materials in Houston other than the big box stores? That being said I understand I will probably get a better selection at a tile store than Home Depot, but will the pricing be any better? Prebuilt cabinets, lighting, granite, lumber, vanities, appliances, sinks and faucets, doors, paint, etc. where are you all buying from for your flips/rentals?

I am working on my fourth investment property and have been buying everything from the big box stores that was not supplied by my contractors.  Is there a better place to buy materials in Houston other than the big box stores?  That being said I understand I will probably get a better selection at a tile store than Home Depot, but will the pricing be any better?  Prebuilt cabinets, lighting, granite, lumber, vanities, appliances, sinks and faucets, doors, paint, etc. where are you all buying from for your flips/rentals?

@ray A. I would love to hear about what you have found.

I am looking in the $75K - $140K range.  I also don't plan on excluding any area that could prove worthwhile.

No one has any input on this?

I am curious to see what strategies other investors use to determine when it is time to sell off some of their rental properties.  I don't mean when you need cash, or emergency situations, etc.; but at what point do you look at the numbers and say" time for this one to go, this one stays, etc...?

One of the real estate strategies that was taught to me was that you get all repairs, big and small, done in the beginning, roll it into the financing, and then sell after five years (supposedly when things start to fail and need repaired/replaced).  I would imagine there are many other strategies out there and I want to know more about them.

@Brent Coombs that is a good thought.  I am pretty happy with the returns I am getting on my current properties.  The idea behind doing the flip is to raise capital to buy another rental instead of waiting for my current rental inventory to produce enough capital to purchase the next property.  I currently only have three rentals so it will be awhile before they produce some serious returns.

Wholesaling in a nutshell is selling a secured sales contract on a property.  For instance a wholesaler could secure a contract on a property for $100K, doesn't close on the property, but instead sells that secured contract to someone with a markup, say $110K, netting a $10K profit.  The person the wholesaler sells the contract to will close on the property, as well as pay the closing costs.  A flipper buys a property with the intention of renovating the property in some manner and then selling for a profit.  A wholesaler basically sources the property for an investor and receives a "finders fee" for their work once the property is closed on by said investor.