Hi all.First let me introduce myself.My name is Victor, I have been living in the Austin area for 10 years now, originally from Spain.I bought my first home in Austin in 2009, and sold it for a good profit in 2013, when I married, to buy another home with my wife.Ever since, I have been wanting to invest some money in real state, mostly to avoid just having cash seating in the bank, and build some equity for the time when we retire.At different times we have looked at different types of properties, but for one reason or another we would just stop looking for a while and then start over again.Just a few months we started looking again, I wanted to find some investment property that provided some positive cash flow, but after talking with some friends, realtor, mortgage broker... it seemed that it could be better to find another property to move to, and rent our current home out, since we got it at a good price in 2013 and should get a good rent.Now, while looking for that, I found a house I thought had good potential with some renovations, and long story short, we ended up in a contract to purchase it.

I'm a wholesaler and I have a lot of leads and deals waiting to be sold.

We just about had another for you to screen but we sold it instead. 

Getting started, I created a spreadsheet of all properties sold and all rentals listed, along with the price, #beds, #baths, sq.ft., and general condition.

Best thing to do is know your numbers inside and out ahead of time and if possible through your local banking and/or real estate connections you might find out what the other motels recently sold for or what their appraised values are.

Ive seen top notch renovated properties with similar square footage sold recently between 70-130,000.

@Julian Pilate-Hutcherson We work almost exclusively with OOS investors and it's a mixed bag...I sold 3 MF properties this month to folks that have never been to the state...and I have another set of clients that have been in the market for months and make routine visits to the city...I think it has a lot to do with comfort-level...truth told, we can leverage technology and get every possible detail on the table for review to make a pretty informed buy/pass decision...combined with an inspection and appraisal, there is really no need to be here in person looking at deals....

The realtor can help you with property comparables, days on market, how much available inventory in your market (your competition), how much to to improve your target property (you don't want $1000 faucets in a home where the other homes that were recently rehabbed and have recently sold had $300 faucets, etc...).

Geeze.......The property will be sold with clear title, it doesn’t matter what taxes are owed or what liens/mtg.s...no need to go to a title co. now.You won’t be talking to the ownerYou will be using the state realtor contracts that the agent usesThe agent, and the owner, has No interest in letting someone tie the property up with a contract who dosn’t have the ability or the intent to buy, and simply hoping to flip the property to someone who Can buy, at a higher price.  

There are a few good ones on the market now, and I just sold one off-market last week.