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ForumsArrowNew Member IntroductionsArrowAlexey, 28 in Houston Texas
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Alexey, 28 in Houston Texas

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  • Posts 28
  • Votes 25

Alexey Sharf
New to Real Estate from Argyle, TX

posted over 3 years ago
My name is Alexey, 28 in Houston. Served in the USMC from 2008-2012; Operation OIF/OEF. Former police officer. Current college student. I wanted to start buying raw land in up and coming neighborhoods, maybe hold it for a little and sell it, or potentially build on it in the future for rental income. I have like 10k available now and I think this would be a way I can afford investing now. Looking to partner up, any other investors in Houston that I can learn from, work with on projects and get experience from. Any military veteran investors here in Texas?
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Check Rosette Top Subject:
Taxes & Accounting
  • Posts 1.1K
  • Votes 910

Jim Cummings
Residential Real Estate Broker from College Station, Texas

replied over 3 years ago

@Alexy Sharf. Sounds like a good plan - but more difficult to make happen. From 28 Years as an Agent / Broker (All In Texas) my experience is most new subdivisions are created by a Developer that subdivides the land into lots,  puts in the roads & utilities. 

Developer then sells the lots to Builders in bulk. With a 100 Lot Subdivision, Developer will typically sell 30-40 lots to Builder A, and 30-40 lots to Builder B, and once builders determine the demand in a subdivision, they will buy up the remaining lots. Point being - Developer is NOT interested in Selling Individual lots or to individuals.

With that scenario in mind,  you end finding individual parcels of ground to purchase, and if we are looking at "Up & Coming" areas, that probably means buying tear-downs for lot value - which usually means big bucks. 

Buying & Holding Land for future use & Appreciation is a "Speculative" play. Vacant Land does not create Cash Flow - holding land is primarily an expense (Taxes, Land & Lawn Maintenance).  

IMO, you would be better served by Buying a MFR (2-3-4plex), living in one unit and renting the others all the while accumulating a pile of cash.

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Check Rosette Top Subject:
Flipping
  • Posts 602
  • Votes 247

Bryan Pham
Rental Property Investor from Oakland, CA

replied over 3 years ago

Welcome to BP @Alexey Sharf !

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