Rental Property Investor · Poughkeepsie, NY · Member since 2019 · 13 posts · 14 votes
I am looking to buy in the West Houston/Katy/Cinco Ranch within the next 2-3 months. I am moving to the area in April. I am already pre approved for a loan and I am looking to get a good deal. I’m thinking 3-4 bed/2-3 bath.
My plan as an investment is to rent one of the rooms out to a more permanent roommate and then try to Airbnb the second bedroom.
Any thoughts about the area or my investment plan? I would like it to cash flow but I’m OK if it doesn’t cash flow with me living in the home. I thought it would be a good first step to getting my toes wet in real estate.
Ive heard of people doing that, ive had thoughts of doing it myself in my home, i think its very doable considering that everyone wants to live in that side of town. Good way to live in a good area for less.
Would love to connect and see if the few deals would work for you.
When I moved to Houston, I rented out two rooms in the 77449 zip code of Katy. It didn't cashflow but definitely reduced my mortgage!
Katy/Cinco is a solid area with fantastic schools. I have several properties in Katy that I personally own so maybe I'm a little biased :) Unfortunately, great schools command high taxes.
You can definitely find a deal, just need to look.
Houston, TX · Member since 2019 · 21 posts · 4 votes
6y
@Dannielle O'Buckley Welcome to Houston! I'm doing almost exactly the same but in a different area of Houston (near Downtown). I went away from the Airbnb because I didn't like the uncertainty and have my 2 rooms rented long-term now. I think it'd be hard to cashflow unless you find an amazing deal but you can definitely cover majority (90%) of the expenses while living there. Also, not sure what the Airbnb demand is like for that area. There might be a niche market there, but i would try to find people who do it there to get a better idea because it's pretty deep in the suburbs.
In that area you can get a decent 3/2 for ~150K more or less. Less if you are willing to get something that needs repairs. I personally find Katy super boring but I'm a fan of the area for investments because it has a great school district and seems like everyone with a family wants to live there.
Investor · Houston, TX · Member since 2010 · 234 posts · 145 votes
6y
@Dannielle O'Buckley Katy/Cinco Ranch is a very solid market. Make sure to factor in floor insurance if you buy on east side of grand parkway. Typically you would not cash flow if you just rent ... but in your case with house hacking, you would cash flow if you factor in a rent for you as well.
Price softened a lot and i see a lot of inventories, you might want to start making some offers at 75-80% of listed price for properties listed over 90 days and close to your range ..