pid=2141Houston Real Estate Highlights for December and Full-Year 2024:-Following two consecutive years of declines, single-family home sales rebounded in 2024 with 85,163 single-family homes sold compared to 84,038 in 2023 an increase of 1.3 percent; -Total property sales for full-year 2024 were statistically flat at 101,864 units while the total dollar volume increased 3.1 percent to $41 billion;-December single-family home sales climbed 16.3 percent year-over-year with 7,162 units sold;-Total December property sales increased 13.6 percent to 8,478 units;-Total dollar volume for December rose 20.5 percent to $3.5 billion;-The single-family home median price edged up by 1.3 percent to $334,290 while the average price increased 5.0 percent to $425,150;-Single-family homes months of inventory expanded to a 4.0-months supply;-The townhome/condominium market experienced declining sales throughout 2024, and in December, volume declined 5.8 percent, with the average price up 2.5 percent to $268,152 and the median price statistically flat at $234,250;-Townhome/condominium inventory improved from a 3.5-months supply to 5.4 months.

My family actually have some properties in FL, and I have also researched this area quite a bit and I saw it might fit my strategies. 

Hey BP family, I'm currently trying to help out a family in need from having to foreclose on there property by taking over subject to, it has a high interest rate although the entry is around 20k I want to wholesale this ultimately Is it possible for me, to disregard my initial assignment fee to get a buyer asap and add a 2nd lien on the property as my fee? 

Then ask them what your options are to reduce payments in the future.

Single family homes are usually the best as they have fewer limitations.

My question is, do I just use the heavily reduced price I was able to purchase it for since it was vacant, and then the material cost of what I renovated plus what things I did contract out, even though that basis would be way under what the other renovated houses that sold near me per SF sold at, or are you able to use similar comps to determine the depreciation basis?

I got the property off-market for $250k from a trusted family friend.

They realize the due on sale clause could get exercised and believe the risk is justified by the reduced rate.

As someone who had a parent pass away and had a family member getting blasted with text messages with offers to buy their home after this - I can see also the side of it that is "leave them alone".

If you're talking about single family homes/ duplexes etc. the neighborhood it's in will generally give you the risk profile.Hope this helps.