Houston, TX · Member since 2016 · 9 posts · 3 votes
Spent some time driving around 77009 and it feels like the Heights/ midtown area 15-20 years ago. I see a lot of opportunity but surprised that this area hasn't turned around sooner given its proximity to downtown, light rail, Heights, etc.? Anyone have any insight or investing in this area?
@Patrick Scott I like this area too, but as I see for now is that the 77008 (Heights area) has overbuilt (townhome style homes), so until that stops, I can't see the 77009 taking off like the Heights did. I think this area will continue upwards once oil climbs up, so this is a good long-term bet for a buy-hold-rent strategy.
Thanks for the input and I would have to agree after looking at 77008 stats rather than just my anecdotal knowledge. My strategy is for buy-hold-rent and will continue to look for deals in 77009. Currently trying to work with some wholesalers but their rehab costs are rather optimistic... I agree with the ARVs but for a rental property would need to address more than just cosmetics.
My day job is in oil and gas and I don't see the oil recovery having nearly the impact it had the past few years on property appreciation. I could be very wrong and will end this tangent there.