Rental Property Investor · Katy, TX · Member since 2013 · 417 posts · 171 votes
I’m looking to purchase a 2-4 unit property in the Houston area, and live in one unit for a period of time (probably a year or so) while renting out the other units. Then, move out and rent all the units out and keep as a rental property long term. Purchase price below $400,000. Where are the best areas to do this, in terms of safety and return on investment?
I’m looking to purchase a 2-4 unit property in the Houston area, and live in one unit for a period of time (probably a year or so) while renting out the other units. Then, move out and rent all the units out and keep as a rental property long term. Purchase price below $400,000. Where are the best areas to do this, in terms of safety and return on investment?
Once you add in that it's something you want to live in, that really makes it a personal choice. Where do you WANT to live? I'll tell you something I learned: The more likely you're going to want to live in your investment, the lower the return. Which is why a high rise condo in miami beach is going to have crappy returns next to a BFE C area of Houston.
Personally I'd only live in 77006, or maybe 77019. But if I were looking for an investment, I really like 77004. It's super close, in path of progress, and you can find value (though I think the secret is out). However, some people might still say "ew, 3rd ward. Too many dark people" or something like that.