Is Montgomery County in TX a good investing area?

Is Montgomery County in TX a good investing area?

Member since 2020 · 4 posts · 0 votes

Hello I am a beginner in real estate investing and am trying to soak in as much information as I can from Brandon Turners book " The Book on Rental Property Investing: How to Create Wealth and Passive". I plan on doing the BRRRR strategy or just buy and hold and was just wondering is Conroe/Montgomery a good place for real estate investing? I lived here most of my life and I know that the population is growing at a rapid pace and the houses around here are appreciating like crazy ( My house rose from about $250,000 - $330,000 since 2011 ) and new businesses and restaurants are being built every minute. The only problem is I feel like vacancy rate is high because

1. People usually come here to have a fun weekend at a Lake Conroe then leave

2. The closest university are Sam Houston State University and The University of Houston (So it wouldn't really attract students needing housing)

3. I am not too sure about any big companies being here since Exxon moved out a while ago, so there won't be a lot of white collard family's I believe.

4. It is a very low income area especially downtown Conroe, usually the rich area is down in Montgomery and in a couple parts of Conroe.

If anyone has any advice and knowledge they would like to give me that would be great! Feel free to add me or shoot me a message.

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Marci MayesPro Member
Real Estate Agent · Willis, TX · Member since 2019 · 71 posts · 37 votes
6y

Most of my purchases have been north of the 336 Loop near Conroe Regional Airport, and they are easy to rent.  I just purchased a rental in Montgomery near Lake Conroe.  I am not sure yet how well that will do, but I guess time will tell. 

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  • Marci MayesPro Member
    Real Estate Agent · Willis, TX · Member since 2019 · 71 posts · 37 votes
    6y

    Yes, Conroe is one of the fastest growing cities in the country.  I have purchased flips and buy and holds in Montgomery county.  I plan to continue to hold my long term rentals because I expect continued appreciation with all the population growth. 

  • Member since 2020 · 4 posts · 0 votes
    6y

    @Marci Mayes Yes it really is! You're wise and smart for doing that, housing around here has appreciated so much over these last 10 years its insane and it will continue with all this population growth. If you have the time I would love to connect with you and gain some knowledge about real estate!

  • Spring, TX · Member since 2019 · 14 posts · 3 votes
    6y

    @Marci Mayes this is good to hear.  I'm also new to investing and was leaning towards Montgomery Co as I live here (I-45 & Rayford) and have seen my house appreciate by $30k in the 3 years we've lived here and really don't know the rest of Houston very well.  I also like CISD's reputation, know multiple people who work there and my daughter's in school there.  What areas have you had good rental income and appreciation in?

    @Austin Nguyen as far as I know Exxon still has a large presence at their Spring campus - husband recently went for 5G project and security is tight.  HP is also in same area but they are all working from home till otherwise told (have friend who works there).  I've heard it's like a small city over there (shopping, cinema, etc) but haven't gone there personally.  There are also a lot of bigger companies in The Woodlands.  I work in Hughes Landing for an Energy (electricity) company and there are multiple other big companies there.  Used to work for McKesson who has their specialty health HQ in the Woodlands which will likely never go away due to it's relation to Houston health care.  I'm an accountant and have not had trouble finding work in the area so there are definitely a lot of jobs in and around The Woodlands for which people are willing to drive south for (met several people living in Conroe and Willis).  Not sure where you're at but the houses on the east side of I45 seem to be a lot better priced than on the West side in The Woodlands (I like to laugh and say it's the ghetto of The Woodlands or wrong side of the train tracks!).  I live in Imperial Oaks and the houses seem to go quick, whether for sale or for rent.  But have to watch the tax rates depending on the area of the neighborhood.  We live in an older section with lower taxes and house has gone from $220k 2017 to at least $250k - 4/2 2600 sq ft.  New houses are still building in the area but are closer to $350.  Houses off Rayford are moderately priced and sized, but you have to watch for flooded areas. North of Rayford doesn't flood, but most of the South side does as close to Spring Creek.  People have quick access to 45, Hardy & 99.  

  • Conroe · Member since 2020 · 17 posts · 3 votes
    6y

    @Jennifer Gill Thanks for the info Jennifer really appreciate it! Yeah I remember exon moving out a while back in Conroe, did not know they moved to Spring. It seems like Conroe and Spring is worth the investment since there are a lot of jobs around the woodlands and you said people are driving from Conroe/Willis which is a positive sign. I don't blame them its cheaper in Conroe/Willis then around the woodlands area. The only thing I am worried about is the property taxes, Its insane in Conroe!

  • Rental Property Investor · Navarre, FL · Member since 2019 · 913 posts · 640 votes
    6y

    I lived in Montgomery Co for a few years. The taxes were insane - $9000 for a 3000sf home on Honea Egypt. I also lived in Spring and taxes were around $6K for a 2800sf home. I was planning on investing in Spring, but the taxes were still nuts (welcome to Texas!). I would have bought there but took my job in Missouri back and moved away. 

    I think Conroe is a sound area, especially if you can find a lakehouse. Think short term weekend rental type deal and you could do well I'd say. Good luck.

  • Real Estate Agent · Waxahachie, TX · Member since 2016 · 17 posts · 16 votes
    6y

    Great growth are with tons of really nice development. May be pricey to get into at this point but should do well long term. Maybe look for older pockets as entry point to the market.

    Good luck!

  • Marci MayesPro Member
    Real Estate Agent · Willis, TX · Member since 2019 · 71 posts · 37 votes
    6y

    Most of my purchases have been north of the 336 Loop near Conroe Regional Airport, and they are easy to rent.  I just purchased a rental in Montgomery near Lake Conroe.  I am not sure yet how well that will do, but I guess time will tell. 

  • Conroe · Member since 2020 · 17 posts · 3 votes
    6y

    @Marci Mayes The only thing I know is that the rentals you bought here in Montgomery/Conroe will appreciate like crazy.

  • Flipper/Rehabber · Conroe, TX · Member since 2018 · 13 posts · 1 vote
    6y
  • Houston, TX · Member since 2020 · 19 posts · 11 votes
    6y

    Count me in for investing in Montgomery County as well.  I live in The Woodlands, And am just starting my real estate investment journey.  Looking for single family or multi family properties to rent.  Will flip if the deal makes sense. 

    Are any of you guys involved with any meet up groups?  Would love to start networking with other people on the same path, and help each other out.

  • Property Manager · The Woodlands, TX · Member since 2016 · 37 posts · 20 votes
    6y

    @Brian 

    @Brian MittelstadtI also live in The Woodlands area and have been investing up here for 4 years now. I think it would be great to get a small group together to discuss...even if zoom for now...

  • Spring, TX · Member since 2019 · 14 posts · 3 votes
    6y

    @Brian Mittelstadt just starting out too and have similar goals.  Just need to bite the bullet and start!  

    @Jeff Bateman  that sounds like a great idea!  Would love to hear what areas you're investing in.

  • Property Manager · The Woodlands, TX · Member since 2016 · 37 posts · 20 votes
    6y

    @Jennifer Gill-I have 2 in Imperial Oaks in "Spring", 2 in Summerset Estates off 242 and 1314 in Conroe, 1 in the Woodlands, and 1 in GlenEagle estates off 242 and 45ish...started 4 years ago and closing on #6 tomorrow!

  • Spring, TX · Member since 2019 · 14 posts · 3 votes
    6y

    @Jeff Bateman  Thanks for the info!  I live in Imperial Oaks so have definitely been considering the neighborhood.  I'll have to check out the other locations.  

  • Houston, TX · Member since 2020 · 19 posts · 11 votes
    6y
    Originally posted by @Jeff Bateman:

    @Brian 

    @Brian MittelstadtI also live in The Woodlands area and have been investing up here for 4 years now. I think it would be great to get a small group together to discuss...even if zoom for now...

    Hi Jeff;

    I'm definitely up for getting a group together.  Would love to hear about your journey, and share thoughts, ideas, help each other with deals etc.

  • Conroe · Member since 2020 · 17 posts · 3 votes
    6y

    @Brian Mittelstadt Sounds good to me! 

  • Rental Property Investor · Houston · Member since 2016 · 23 posts · 17 votes
    6y

    Hey all, I'm glad I came across this thread! I'm a former mortgage broker, recovering tech manager, and a new property investor currently living in The Woodlands. It would be great to get together and do a socially distanced sync, possibly at an outdoor venue. I figure it may be useful to create a regular happy hour event where we can all get together.

    I'm happy to organize. May I suggest Escalante's Fine Tex-Mex & Tequila? They have a decent swath of outdoor seating off Lake Woodlands where we could take over table or two, have a drink, and connect. I'm thinking to kick it off we set a time to get together once a month and see how that goes.

    I'm very flexible on the date and time. How about we meet this Wednesday (7/29) at 6:30 PM.

    Thoughts?

  • Rental Property Investor · Houston · Member since 2016 · 23 posts · 17 votes
    6y

    Hey all, just following up with this thread. I just shot DM's to those who thought getting together might have some value.

  • Houston, TX · Member since 2017 · 2 posts · 0 votes
    6y

    Ha, just stumbled across this thread. Also Woodlands, investor/corporate attorney/RE Agent (but only representing myself so far). Sounds like we have a critical mass of folks, definitely interested in talking with you all.  So, to @Matthew Williams question, how could we meet? I'd even be up for tonight at Hughes Landing but probably couldn't make until 730.

  • Conroe · Member since 2020 · 17 posts · 3 votes
    6y

    @Scott Brown Hey Scott He messaged me like an hour ago saying it might rain tonight and that tomorrow might be better. I am not sure if it is still happening today.

  • Houston, TX · Member since 2017 · 2 posts · 0 votes
    6y

    Sounds good. I'm in. Meet you guys outside on the back patio I assume. 

  • Spring, TX · Member since 2019 · 14 posts · 3 votes
    6y

    @Matthew Williams  My husband and I would be interested in meeting as well.

  • Property Manager · The Woodlands, TX · Member since 2016 · 37 posts · 20 votes
    6y

    I am in. Wife and I will be there tomorrow at 6:30.

  • Rental Property Investor · Houston · Member since 2016 · 23 posts · 17 votes
    6y

    Hey all, a bigger pockets moderator informed me that the forums are an inappropriate place for us to organize. I didn't know, but now I do!

    That's why my posts with the event didn't details were removed.

  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    6y
    Originally posted by @Matthew Williams:

    Hey all, a bigger pockets moderator informed me that the forums are an inappropriate place for us to organize. I didn't know, but now I do!

    That's why my posts with the event didn't details were removed.

     You can post in the events and meetups section



    https://www.biggerpockets.com/forums/521-events-and-happenings

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