I'm new to the Houston area, been In league city for 1 year bought a single family home that needed work and living in the properry while doing own remodel. It's 75% completed.
I have some general questions for the community:
1. Do you prefer condos versus single family homes? Which is easier to rent?
2. Does anyone buy properties built pre 1978? Approx before this date lead paint, non modern electrics etc... wiring post 1980 is considered modern. If buy older properties, who is the target tennant?
3. Do prefer to buy newer properties, built say post 2000 where windows are double glazed, modern insulation etc...
4. How low return on investment would you typically go and why?
5. Do you manage own properties or do you give up some profits to allow property management companies to handle renting out?
6. What does having a full portfolio of older properties look like? How is maintenance, who is your main tennents? Section 8, low income etc?
I'm wondering if it's worth buying fewer properties but buying newer properties build post 2000. I'm leaning towards condos being easier to maintain vs single family homes. If buying older properties im thinking one may be able to buy way more than properties build post 2000 but wondering how desirable older properties are and if not so desirable perhaps lower income people are attracted to these?
Looking for some insight to the above!
In addition to age of property you should be thinking about location. Most of the better locations have older structures on them.
Hi @Andrew Bannerman,
First of all, welcome to Houston and BP.
It all depends on what your strategy is and what you have towards the future, but according to what you said in the first paragraph, it seems you are more of a Single-Family person, the first thing I would focus on would be the location. You can start with a house that was flooded since there would be a lot of profit when you make the repairs yourself.