I am selling a rental of mine and decided to invest in a larger property, especially in self-storages. I got an email from a broker inTexas for a property in North Western part of Houston. I have been doing a bit of demographic research in the area, and it seems like a decent investment. But I still want to ask if there are any locals there who can give me some first-hand opinion about the area before I make a decision? The location is surrounded by places such as Champion Spring Village, Colony Creek Village, Cedar Creek Forest Mobile Home, and not too far away from Lone Star College University park. Thanks! -Elsa
Originally from Houston and very familiar with the far NW as a resident (less as a commercial investor). What questions do you have? Feel free to PM me
Hi @Kevin M.
Thanks for your response. I just got off the phone with the broker who sent me the listing. He couldn't provide me the rent roll but saying the customers pay cash to the owner, which I think it's a bit suspicious even though he claimed the cap rate with the Excel spreadsheet saying it's over 11%. From the way he spoke to me, it was condescending, and I am not sure if this is really how people run their storage businesses. It seems like a happening neighborhood. I am just not sure if the attitude is common or I need a commercial RE agent to help me with this. I will PM you the address.
@Elsa Chang Hi! Did you explore down this path? If so, wondering what your experience has been so far.