Houston 610 Buy and Holds
I noticed something odd during my research near the 610 for buy and holds. Older remodel homes are in the $150k to $175k range. Combine that with the logistics, time, and headache that comes with remodeling and a couple of months later youre ready to rent. At that point you would cash out refinance. Then I noticed something else. In Greater Fifth Ward and Sunny Side you can get NEW homes for around $200k! That means that those old houses would be using those comps. So there isnt that much equity unless you got a really good deal.I would rather buy new. Less maintenance issues. Immediate rentability. No logistics issues with contractors. Two issues here... How good the builders are and the major issue... Scalability. There is no way to get cash back to buy the next home.
Have you heard anything that may help?