Where is the path of progress in Houston, TX?

Question

Currently reading David Greene's book - Buy, Rehab, Rent, Refinance, Repeat. In his book he talks about investing in the path of progress. I'd like to reach out to the Bigger Pockets Community to figure out where the path of progress is in Houston, TX. This is a question I can ask my investor agent, but I'd like to hear some opinions before forming my own!

Adam D Rinehart · Answer

59 and Grand Parkway is the Valley Ranch development, 45 and Grand Parkway is for all intents and purposes The Woodlands, which I don't think anyone would consider the path of progress if you're familiar with Houston. Now if you keep heading north on 45 I think you can make a strong argument for Conroe. As for Valley Ranch, I work on that development and I'd hardly consider it investor friendly due to all the new home construction, you're buying at retail prices and getting saddled with all the high MUD taxes that come with new developments. I'd consider the older areas west of Lake Houston (Huffman) as investor friendly for rentals and flips with all the new construction happening in the area.

But personally, I view the 290 corridor as where the most rapid growth is poised to happen. TXDOT has recently finished major improvements to 290 and development keeps heading NW into Waller County. Waller County is currently much more rural than Harris County (as a whole) and does not yet have as comprehensive of development regulations, especially when it comes to drainage and floodplain issues. Once you get more companies like Daikan (https://www.bizjournals.com/houston/news/2018/01/26/daikin-to-hire-2-000-more-people-for-houston-area.html) that bring thousands of manufacturing jobs to the area and Texas A&M investing more money into their University system in Prairie View (http://www.pvamu.edu/blog/70-million-engineering-building-coming-to-pvamu-amid-rising-enrollment/) you start to see that all the indicators are there for future growth.

A very similar scenario is happening in Montgomery County now that the northern segments of the Grand Parkway have opened up a lot of land for new development. These areas are close enough to the Woodlands and Houston to give people a lot of options in regards to employment options, community amenities, good schools, and easy access to IAH with a unique mix of suburban and rural lifestyles.

Mark Sewell · Answer

I agree that NW is where it is going.

You could even say that data would support Adam's opinion.  These are cash buyers by zip code (taken from ListSource).

It was a full year of data, I think but this file is a few months old.

Ok this probably correlates better to areas where people want to own rental property in Houston, but you could also stretch this interpretation that these are areas where people want to live - or at least that is the opinion of the majority of cash buyers.

Adam D Rinehart · Answer

Son of a....No wonder I've been seeing so many bandit signs on my drive home and getting texts/voicemails randomly inquiring about buying "my property".

Adam D Rinehart · Answer

Jeff, I don't think that Dayton will be seeing anything major on the development side due to the flood maps. That area got absolutely pounded by Harvey. The general public and willfully ignorant politicians have that in mind as the rule, not the exception to the rule storm. I know of 2 new developments up near Huffman and Crosby that I was designing (one being Master Planned) on the east side of Lake Houston. It's mainly starter homes and affordable housing.

Jeff Lee · Answer

The Grand Parkway (99) currently ends at 59/69 but the next phase is under construction. It will stretch east for a while and then cut south between Huffman and Dayton and tie in around Baytown. We're already seeing a good bit of preparation in Huffman and Crosby with roads widening and new neighborhoods springing up. I imagine Dayton should see some growth soon as well, with more accessibility to the ship channel coming soon.

Ivan Gorokhov · Answer

I am getting cold calls every week, sometimes few times a week "I know its out of the blue". I am tired to make fun of them :( Does this bs still work? So annoying...

Mark Sewell · Answer

@Adam D Rinehart I hear you - either somebody really thinks I have an 'ugly house' or they think I am in some form of distress, because I am getting all the same mail.  Or maybe I just have crossed a threshold in terms of having equity in the property.  In any case I am not suffering from a lack of direct mail ad copy templates to use.

Nicholas Mo · Answer

Near I-45 and Grand Parkway is also booming. Major draw is ExxonMobil campus which has lead to major growth in both residential and commercial developments in the immediate and greater surroundings. Additionally, Beltway 8 at Woodland Hills is also a booming area, given the major draw of Generation Park and the job growth being experienced by many companies moving their HQs or offices to the park.

Where is the path of progress in Houston, TX?

Most Popular Reply