Owner Occupied Investing in Houston Texas

[Dan Starr]

Hi everyone, @Brandon Turner's , The Book on Investing in Real Estate with No (and Low) Money Down, has got me thinking about this as a real strategy for wealth building. I am looking to move into an A neighborhood (the Heights of Houston) and do it on a deal. Build some additions even a garage apartment for rental income and add tremendous value to a home. The sales price on my target property would be around 300k price on a 5,000 square foot lot and doing my own upgrades and turning it into a home where the area has most of it listings over 600k.

Any suggestions? My only worry is that my W-2 job won't be able to let me sit on such an expensive home for very long. My goal would be to sell the home in about 15 months in the summer time when the Market is hot.

[Fred Heller]

Time to pull out my broken record. Good luck finding any home where you would want to live in the Heights. For $300,000 you will get an old little bungalow that doesn't even have heat. Most of these are being sold at lot value which means the only thing you can do with them is tear them down and build something new.

I suggest you look in Oak Forest and Mangum Manor on the NW side of the Loop. This area has been exploding in the last few years. You can pick up a non-updated home for around $200,000 give or take, remodel it, and then turn around and sell it for $300,000+. I've seen it happen over and over again the last few years.