Investments in Houston, TX

4 Replies

Anybody ever worked with a gentlemen named Gerald Guterman?

Here are couple of properties he presented to me:

http://www.har.com/20610-alfonso/sale_27394662

http://www.har.com/1931-jara/sale_36330833

http://www.har.com/1839-jara/sale_54971563

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. 

@Wai Fung  

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.

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.