Alief/Harris County neighborhood in Houston, TX

Buying & Selling Real Estate
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Alief/Harris County neighborhood in Houston, TX

Tiffani T.
Investor · Renton, WA · Member since 2017 · 56 posts · 31 votes

Hi everyone,

I am looking purchase a townhome in Aleif ,TX and price is very low (<100) for a cash payment. I've been researching on various sites including Zillow Rent and such. Rent is approx 900-1000/month. HOA in upper $200. I am not sure if this is a great renting market in this particular area of Houston. Do you have any prior or current experience investing in this neighborhood?

Thanks much,

T

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  • Shane Graves
    Real Estate Agent · Houston, TX · Member since 2010 · 5 posts · 0 votes
    5y

    Hi Tiffany,

    Alief is one of the lower class areas of Houston. Make sure to check the flood zones as well. I know parts of Alief got hit hard with all the flooding we have here.

    I personally don't have experience investing in the area. I've invested in the Galleria and Cypress/Katy areas

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  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    5y

    @Tiffani T.

    I have not personally invest in Alief area but I have help clients analyze some properties there.

    If the cash flow is great, I will say go for it. With that higher HOA in the upper $200, I am guessing this is a Condo/Town House?

    If I may ask you sounds like an out of state investor are you working with any Investor-Agent on this transaction?

    If Yes, your Investor-Agent should be able to answer most of your question or point you to some great resources.

    You can use https://msc.fema.gov/portal/ho... to see the flood zone for the property.

    Goodluck

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  • Tiffani T.
    OP
    Investor · Renton, WA · Member since 2017 · 56 posts · 31 votes
    5y

    @Wale Lawal Hi Wale, thanks for reaching out on this matter. Interestingly, the seller's agent informed she is currently having a subcontractor out in the field repairing water tank and sink-issue. They just had another cash offer on the table but seller declined the low amount. What was strange to is that the plumbing/water tank issue was not addressed on MLS listing. I don't think seller and agent fully disclosed any issues on this townhome/condo at first sight on MLS listing.

    Yes, I'm an out-of-state investor.  At this point, I am trying to determine if making trip out there is feasible and if I should make a deal by initiating a cash offer, once I find all boxes are checked?

    Thanks again,

    Tiffani

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  • Tiffani T.
    OP
    Investor · Renton, WA · Member since 2017 · 56 posts · 31 votes
    5y

    @Shane Graves I almost have the impression that Harris county/Alief falls in the lower as shown by much lower pricing compared to Katy. I was leaning toward the idea that if the properties bring positive cashflow then I'm all in..but now that you are referring flood zone. This is something I have not looked at! Thank you! Speaking of which, if it falls into a high risk area for flooding, do you recommend me getting renter insurance? I spoke to the VP of HOA for the complex and he's fairly new to share much with me.

    Tiffani

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  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    5y

    @Tiffani T. Making a trip down is definitely the best if you don't have any boot on the ground. 

    The seller is supposed to disclose any material facts about the property. 

    This can be a tangible reason for you to terminate the contract down the road if ALL material facts were not disclosed to you.

    My investor clients never have any reason to fly down though because I take care of any concerns for them.

    Go for it if the number make sense for you. Reach out if you want to take this offline.

    Goodluck

    [email protected]832-776-9582Podcast Guest on Show #469
    NETWORTH BUILDERS5236 Reviews
    WebsiteView Page
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  • Shane Graves
    Real Estate Agent · Houston, TX · Member since 2010 · 5 posts · 0 votes
    5y

    @Tiffani T.

    If the property is in a flood zone and you are getting financing it will be required by your lender.

    The rates depend on the type of zone and if the property has flooded before

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