Investing in Houston
Hello Houston BP Community,
My partner and I are looking to get into the RE investment market in Houston. We are looking to start acquiring properties using the BRRRR method, if available, from SFR and up to a fourplex.
We are out-of-state, so any information you can provide will be greatly appreciated;
1. What are the best areas and zip codes in Houston? What are the average prices?
2. What is the property tax rate? Does it change based on the municipal area?
3. What is the average annual insurance premium? I know that there are flood zones, which have higher premiums than other areas.
Thanks and looking forward to connecting with you.
Wishing everyone a successful 2022!
Welcome to looking into the Houston market!
There are a lot of "it depends" answers to your questions. For example, "best" areas is tough to define. What do you consider for saying an area is the best? Is it best returns, best schools, best rentability? Average prices are anywhere from 50K to over $1million, depending on what you are looking for. Last year in Houston the avg SFH sold for around $370K.
Insurance is another one that is tough to give an average of. Certain areas on the city and its suburbs require flood and windstorm insurance which are 100% dependent on property value, location, elevation.
Right now for BRRRR there is a lot of opportunity in Galveston TX, about 40 minutes South of downtown Houston. Its a beach town with potential for both STR and LTR. Flood and Windstorm insurance play a huge role on the island, however there is no shortage of homes to be rehabbed and harness untapped potential.
Hope this helps!
Welcome to Houston!
I would say some of the hot areas people are wanting to move to or buy in are
North: Woodlands, Parts of Spring
Southwest: Sugar Land, Parts of Missouri City
West: Katy, Spring Valley, Briar Forest, and many more
But you can find good areas throughout Houston just depending on the neighborhood.
Price would vary depending on what part of the city or which certain neighborhoods you are looking in.
If you had a specific budget or price range you wanted to stay within I could help steer you in the right direction.
If you wanted connect I would be more than happy to help answer any questions you have and possibly find something that fits what you are looking for!
@Karl McGarvey Thank you very much for the information and your help, Karl! I appreciate the input and will do more research on my end. Best of luck!
@Caisen Sullivan Hi Caisen, thank you very much, I appreciate the help. I will review the areas you suggested and reach out if I have more questions! Best of luck!
Originally posted by @Caisen Sullivan:Welcome to Houston!
I would say some of the hot areas people are wanting to move to or buy in are
North: Woodlands, Parts of Spring
Southwest: Sugar Land, Parts of Missouri City
West: Katy, Spring Valley, Briar Forest, and many more
But you can find good areas throughout Houston just depending on the neighborhood.
Price would vary depending on what part of the city or which certain neighborhoods you are looking in.If you had a specific budget or price range you wanted to stay within I could help steer you in the right direction.
If you wanted connect I would be more than happy to help answer any questions you have and possibly find something that fits what you are looking for!
@Caisen Sullivan : What do think about Pearland TX 77584?
Originally posted by @Son Tran:Originally posted by @Caisen Sullivan:Welcome to Houston!
I would say some of the hot areas people are wanting to move to or buy in are
North: Woodlands, Parts of Spring
Southwest: Sugar Land, Parts of Missouri City
West: Katy, Spring Valley, Briar Forest, and many more
But you can find good areas throughout Houston just depending on the neighborhood.
Price would vary depending on what part of the city or which certain neighborhoods you are looking in.If you had a specific budget or price range you wanted to stay within I could help steer you in the right direction.
If you wanted connect I would be more than happy to help answer any questions you have and possibly find something that fits what you are looking for!
@Caisen Sullivan : What do think about Pearland TX 77584?
@Son Tran Pearland is good as well. I have seen investors make money flipping and renting all over Houston as long as the number work.
Hi Nitzan,
Reach out to me. I would like to connect with you and help in anyway that I can. We have a great REI meeting once per week that is on fire!