Investor · Houston, TX · Member since 2016 · 4 posts · 0 votes
Hello Everyone!!
I want to build a 10 house rental property portfolio, in Houston, TX, in 1 year, with 100-200k investment. I am sure many of you can help guiding me with:
1- Which areas of Houston would you look for properties?
2- Which ares you would not buy
3- Which are the sources of potential properties (other than har.com)?
4- Where can i find comps for property values and rental values?
Some great questions, but a little general. I will do my best.
1. that depends on what you want and how you plan to manage them. There are great rental areas in most areas of houston. If you are going to manage them, stay close to where you live. If it is more than about a 30min drive, you wont check on them much and bad things can happen. If you use a property manager, then ask him/her where to buy.
2. that depends also. Personally I dont by in low income areas, but others focus on these and make great returns. The worse the area, the more time it will take to manage.
3. all the usual (zillow, redfin), Har is the best for houston and the listings show up there first. I cross reference HAR with Zillow and redfin because they all have different info. But really an agent is going to be the best resource in the Houston area.
4. your agent. zillow and redfin are way off with their estimates. there are some paid services you can use, but the best is just knowing the area you buy in.
5. dont over pay. Period. be mindful of school districts and where they stop.
Real Estate Agent · Houston, TX · Member since 2016 · 53 posts · 19 votes
10y
I want to build a 10 house rental property portfolio, in Houston, TX, in 1 year, with 100-200k investment. I am sure many of you can help guiding me with:
1- Which areas of Houston would you look for properties?
At that price - Near Medical Center
2- Which ares you would not buy
Defer this question, as I believe there are opportunities in every area.
3- Which are the sources of potential properties (other than har.com)?
Find them on your own & Investor networks.
4- Where can i find comps for property values and rental values?
A realtor is a cost free method. There are also many s/w programs for investors that do it too.
5- Any other radvice?
Team up with a realtor - for MLS properties, the seller pays the commission; the buyer does not.
I want to build a 10 house rental property portfolio, in Houston, TX, in 1 year, with 100-200k investment. I am sure many of you can help guiding me with:
1- Which areas of Houston would you look for properties?
2- Which ares you would not buy
3- Which are the sources of potential properties (other than har.com)?
4- Where can i find comps for property values and rental values?
5- Any other radvice?
Thank you !!!
1. You can buy all over, however, this city is YYUUGGEEE, I'd pick an area of town that has ARVs from 100-150k.
2. Low end and section 8
3. wholesellers and networking events
4. HAR, if your are a realtor, real aqusitions, lifestyles quest...
5. This is one of the most competitive markets in the country. You are going to work HARD to find great deals.