I'm wanting to get into Multi Family development in the Houston area and have started to look at potential projects.

Sold on 11/15/2024 for $249,900, this project highlights our commitment to creating value and achieving substantial returns.

Am I just looking at MFH values over the last 24 months and trying to project? 

Private Money Lenders: Reach out to friends, family, or acquaintances who might be willing to invest in your project for a return on their investment.7.

Instead, focus on real estate that provides the opportunity to force appreciation or invest in a market with strong growth projections.

I would probably focus on three things.  1) filling the vacancy for as close to the old rent as possible (to help with refinancing or selling 2) refinance it and talk to a few different banks/brokers.  3) If all else fails, list it and 1031 into another project. 

This can be far cheaper than having an in-house project manager to do this for you.Based off your statement "this will be my first time managing a renovation out of state", it looks like you are familiar with the renovation process.

Purchase price: $131,000 Cash invested: $41,000 Off market deal - Going in this project with an Opportunistic BRRR mind.

Here are some key red flags to watch for:🔴 Lack of experience: A borrower without a proven track record in real estate projects may struggle to navigate unexpected challenges.🔴 Overly optimistic projections: Unrealistic ARV (after-repair value) or underestimated rehab costs can signal poor planning—or worse, a lack of transparency.🔴 Incomplete or disorganized documentation: Missing detailed plans, financial statements, or timelines could mean the borrower isn’t ready to execute the project successfully.🔴 Over-leveraged finances: Borrowers with excessive debt or insufficient personal capital invested in the deal could pose a greater risk of default.🔴 Questionable property comps: Overstated market values or inappropriate comparables may mean they’re inflating expectations.As always, thorough due diligence is your best protection.

You can find properties that can surpass or stay below the average as well.As for the overall market panorama, there are huge projects planned or under development.