Is Houston TX a good place for real estate beginners?

[Marvin Montanes]

Is Houston TX a good place to begin a real estate journey? My wife and I are planning to get a triplex (live in one and rent out two) after a year of moving there. Any thoughts on the outlook of the market there? Thanks in advance!

[Brian Alfaro]

Only tip I have to your question directly is small MF units that are affordable and at or under market value are hard to find. Very hard. Most MF stuff here listed is over priced, but it doesn’t mean you can’t still make offers. 

Also, MF is hard to find because there aren’t a ton here and the investors like to fight over them if they’re even remotely affordable and listed. Best bet is to try to find an off market deal but reaching out to current MF owners who might want to sell. Unless you’re okay paying full price. 

Finally, the neighborhoods might be a bit rough on a lot of the potential properties. There are beautiful new small MF in some areas here, but you’re paying retail new construction prices. The older stuff that needs work will likely be in areas that aren’t as desirable. Make sure you’re ready to live there (and so is your wife) if you’re planning on house hacking.