Anybody ever worked with a gentlemen named Gerald Guterman?
Here are couple of properties he presented to me:
Are these worth pursuing with 25% down and a guaranteed lease agreement for the first 2 years with a return of 7.5%? These homes are new construction located in a dry area of Houston, TX that was not affected by Hurricane Harvey.
Uh, no. All of those properties are over $200,000, which do not make good rental properties in Houston. You need to keep it in the $130,000 or less range to make sense for a rental property.
PM me if you would like to discuss options.
@Fred Heller is dead on. Those may be nice houses, but not a good fit for rentals in Houston at those price points. Kind of small for that price and area as well!
Thank you gentlemen.
What rent is he guaranteeing? I agree with the others that the price point is higher than we normally like but I'd want to know more about his rent rate guarantee and how he's planning on doing that? Pretty simple exercise to see what comp rent rates are for the area, that will tell you if the numbers are way out of line or not.