OFF MARKET CASTLE HILLS PROPERTY!!!!!!!!!!!!!!!

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Here it is folks! The flip you have been waiting for OFF-MARKET castle hills with curb appeal out the wazooo. All this property needs is updating and a good cleaning and you will be ready to rock and roll. With sold comps up to $110.00 a sqft 180k is conservative. Get with your New West agent today to lock this property down!

Where to Flip in 2014-2015

Emerging San Antonio Real Estate Markets

Whenever a client of mine asks what a house could potentially be worth I tend to respond in a similar way, "whatever a buyer will pay for it...".  Isn't that a simple and true answer?  We real estate agents use comparable sales to make the best educated guess we can about the value of a house but there's certain areas that don't lend themselves well to comping out.  Some areas are just starting to see investors enter into the neighborhood and rehab houses.  Those brave cowboys of real estate usually don't have a very good idea of what a buyer will pay for their finished product but after they do sell begin to establish an MLS track record.  A wise man once told me, "The early bird gets the worm, but the second mouse gets the cheese."

Three years ago if you were willing to buy in Alta Vista or Tobin Hill you were taking a chance.  These days you can't find a property that makes sense in these neighborhoods because regular sellers are comparing their homes to fresh rehabs.  Where you use to be able to buy for $30-40/ft and sell for $100-130/ft you're now facing a tougher market on the buy side.  Unfortunately for you the cat is out of the bag for these neighborhoods.  But I don't bring only bad news, I'm here to inform you of where the next two Boom Flip Neighborhoods are going to be in San Antonio.

Dignowity Hill

As soon as you say "East Central San Antonio" investors run.  Where I bought a 3,000 sqft for $9,000.00 one day and couldn't give it away the city of San Antonio has begun creating some incentives to improve this centrally located area.  Let's be completely real though, the closer you are to Dignowity Park the higher the property value.  12 months ago I wouldn't have touched the area because there was no indication that investors were being successful in selling their completed projects.

But recently there has been a change in the winds.  Where investors are buying as low as the $40/ft price range it seems as though they are selling as high as $130/ft!  While comps are still few and far between this is huge news for investors looking to earn higher than the average return.  While the typical equity spread in San Antonio is somewhere between 25-30%, equity capture here can be as high as 50%.  This is because so few investors are aware of the city incentives to redevelop this area and because of their own personal reluctance to buy on this side of town.  Folks... Not buying on a certain area town because you have a personal issue with it makes you a real estate hobbyist not an investor.  

Government Hill

When I think about this area it kind of blows my mind that it's actually taken up until this point for this area to get hot.  Literally caddy-corner to the downtown central business district you can't really ask for a more central location.  Did I mention it backs up to Fort Sam Houston, one of the largest and most historic army bases in Texas?  The rents here are through the roof and it even has it's own business district off Grayson and New Braunfels.  Now it is important to pay attention to what has been designated as "historic" over here as it does have a profound effect on value.  

Values?  Somewhere between $155-170/ft!  For being regarded as one of the city's roughest areas it's certainly weeding out the riff raff via price point.  With a solid figure being somewhere around $135/ft and purchase prices in the mid 40's/ft it doesn't take a genius to add the figures up to equal higher profit margins.  

I'm not saying you should be the first person to try and flip a house in these areas, I'm saying you're already behind the rest of us.  If you're not looking here you're doing more work for less profit.  Get with a professional and get richer quicker.

Huge Flip Opportunity in Monte Vista!

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Price - $185,000
Rehab - $45,000
ARV - $315,000


If you're looking for your next flip opportunity here it is! Monte Vista shows super low days on market with most houses selling in under 30 days. This house is the cheapest house to have sold or been listed in Monte Vista in the last six months. Ask your New Western agent how to use Sherman Bridge to maximize your ROI!  Contact Ryan Harthan at 210-710-1617 for more information!

Meadowbrook Estates Flip sitting on Greenbelt & Stream!

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Beautiful 4/3/2 located in picturesque Meadowbrook Estates Subdivision. The home is situated on over a half acre lot surrounded by towering trees, with a 2 tiered backyard backing up to a greenbelt & flowing creek! You have to see it to really appreciate it. The roof is a nice looking 30yr shingle & HVAC is in great shape. After a foundation repair & interior cosmetics, the ARV will be very easy to attain!
Rudy Gonzales @ 214-531-3365 for the address!

Terrell Hills HUGE FLIP OPPORTUNITY!

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Location Location Location. Diamond in the rough on .27 beautiful acres in TERRELL HILLS! 78209 with ALAMO HEIGHTS ISD. This property is in GREAT shape with several updates. The SKY IS THE LIMIT on this rehab. Recent sales with similar square footage sold for OVER 800K. Contractor bid in hand familiar with the finish out needed. 40K well spent should afford you a VERY handsome profit. OVER 125K gross profit on the table. Spend more, make more!! Ask about making this happen with a Sherman Bridge Hard Money loan!  Contact Ryan Harthan at 210-710-1617 for more information!

New Hurst Flip Property!

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Nice house on a corner lot with attractive curb appeal.  Property is on a canal lot.  Previous owners left in a hurry so there is some trash out work to be done.  Foundation appears to be level, however the roof may need some attention.  A/C looks good.  The garage will need some minor demo as a work room was added.

J.D. Castillo
214-650-5493

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posting was created by a licensed agent agent; brokerage, United Investex 2, Llc

The Importance of Rehabbing Right the First Time

Getting it Sold

I tell every new investor that there are four pieces to the puzzle of flipping a house.  This also means you need four critical people on your team to make sure that you make money:

1. Buying the property - having an awesome acquisition agent
2. Financing - making sure you can pay for it and are getting the best terms
3. Repairing the house - Getting the best quality for the most reasonable price
4. Listing the house - Having a beast of a Realtor® to make sure you sell quick

It only takes one mistake in this chain to lose money on a project.  Periodically you will likely see me refer to this list identifying where I see investors make critical mistakes that either cause them to break even or even lose money.  This article is dedicated to my own personal experience in fumbling between stage 3 and 4

So you're rehab is done, time to list right?

Well yes and no.  Let me give you an example how you can shoot yourself in the foot as an investor.  The following picture diagrams the history of my house.

Listing Summary

Listing History

MLS No: 980543 Cur. Status: ACT Type: Single Residential List Price: $118,900 Orig. LP: $119,000 Sold Price:   List Date: 01/11/2013 List Agent: 535649 List Office: RMAX00 DOM: 54

Change Description Status LP/SP Modified Date Updated By STATUS: BOM -> ACT ACT $118,900  02/22/2013 Call Broker STATUS: AO -> BOM BOM $118,900  02/11/2013 Call Broker STATUS: PCH -> AO AO $118,900  01/28/2013 Call Broker LISTPRICE: $119,000 -> $118,900 PCH $118,900  01/23/2013 Call Broker STATUS: AO -> PCH PCH $118,900  01/23/2013 Call Broker STATUS: NEW -> AO AO $119,000  01/18/2013 Call Broker STATUS: DRF -> NEW NEW $119,000  01/11/2013 Call Broker

Being in the business for so long I was sharp enough to hire an awesome agent to list my house, Zachary Taylor.  In four days, 4 DAYS, Zach got an offer on my house. I priced it right but a lot of getting an offer falls on the on the shoulders of your listing agent.  Now had I not made a critical mistake between completing my rehab and listing it I would have 120 grand in my pocket by now. 

So where was the mistake?

I never got the house pre-inspected.  This was an 80's build house that had about 25 items pop up on the inspection report.  While all of these were minor things that I got knocked out in about three days it scared the buyer off when he saw the inspection report.  Now don't get me wrong, 99% of retail buyers act completely irrationally when buying a home and think that they're getting a new build house at a discount.  This particular lady thought that there was a possibility of mold in the house in the next ten years (WHAT?!?!?).  So I got it back on the market.  I got another offer in about another three days and had the same situation pop up again.

So how did I fix it?

First of all, make sure you put appliances in the house.  I never do a refrigerator but everything else is a must.  Most importantly, get the house pre-inspected. Granted, my contractor screwed up.  On a $12,000 budget I wound up spending an extra $3,000 to get someone in there who could clean up the mess he burned me with.  Had I addressed all the issues initially, I would have sold the house by now.  Another thing to do is to get your agent to the house and get their honest opinion about the condition of the rehab.  A good retail agent will shoot you straight because at the end of the day, they're the person that has to sell it.  

Keep in mind that your history on MLS can easily deter potential buyers.  If an agent sees that a house has been under contract and fallen out 5 or 6 times they're going to assume that there is something very wrong with the house.  You can always go down in price on MLS but you can't go back up.

Click here to view my latest rehab house.

Hidden Gem in Cypress

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Here is an awesome house in Cypress that will be a great flip for an investor. The area alone will make this house sell extremely fast. Lease comps are from $1400 to $1650 a month. Our ARV is very conservative and I wouldn't be surprised if an appraisal came back in the $200k range.

         

Stillwater Investment Property

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5/3.5/2

3222 Sq Ft

2007 build

.38 acres

ARV 275K

Repairs 11K

Price 187K

Impressively HUGE home in the desirable Stillwater Ranch. You couldn't build this home for this cheap. Conveniently located in the back of the subdivision by the creek, on the biggest lot in the subdivision (.38 acres). Soaring ceilings, custom built-ins, remarkable closet space, wrap-around creek.. too much to list! Be the first to see this gem. NW new build's never last!

Alamo Heights ISD under 70k!?!?

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ALAMO HEIGHTS ISD for under 70K? Yes!! Not much needed to say here. Good structure needing light cosmetics and a tenant! You wont believe the rents here. HUGE quarter acre corner lot, AHISD, great structure, good neighbors, great rents, newer siding, insane days on market, easy rehab, rents from $1000-1300, off market deal.. a true cherry! Be the first to see and ask about financing with Sherman Bridge Lending!  Contact Ryan Harthan at 210-710-1617 for more information!

Home

BIG Flip! Arlington Heights Ft Worth!!

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This property has much more curb appeal than ALL of the other comps I pulled and its 100% brick. Houses in this area can sell for a lot more. One house less than half a mile from here in the neighboring subdivision, 1700 Sf sold for $319,000 in 25 days. It all depends on the amount of work you put in. This is a highly sought area and this house will sell quickly. 

JD Castillo

214-650-5493

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Beacon Hill Investment Property

BEAUTIFUL BEACON HILL cherry. House so well cared for, its practically a new construction. Foundation JUST repaired, fresh interior paint, 21 x 8 concrete patio, 23 x 15 upstairs patio with outside staircase (additional entry), 12 x 8 covered front porch, beautiful landscaping, detached garage with 2 additional carports (could be converted into mother-in-law or additional apartment). IDEAL conversion to a du-plex (have bid from contractor) or a VERY profitable flip (also have bid). Great DOM and a pretty easy cosmetic rehab will make this your next home run! Ask about financing with Sherman Bridge!  Contact Ryan at 210-710-1617 for more information

Home

Not on MLS! SE Fort Worth Investment.

Nice house that just needs updating.  There were a couple of minor stress cracks noticed, but nothing too severe.  A/C is not new, but works just fine.  Seller moved away and just wants out! Tax rolls say 1240 sqft, but the enclosed porch indicates an additional 200 sqft.  Value should still remain same if sqft is non-inclusive.

JD Castillo
214-650-5493


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