Investing in Houston
Hi there, before we buy another investment closer to home I would like to look at the Houston market and was wondering if anyone could give me a few zip codes to focus on. We would be planning to hold the property for at least 10 years and would prefer to look at areas that have a good mix of owner/occupiers & renters and attracts a nice tenant. Any other tips/advice would be appreciated.
Cheers
Trudy
Trudy, we like the North Side of Houston and we like B Neighborhoods for their rent/value ratios. Best returns for investors that are also going to give you reasonable appreciation. Pull out you Houston map and start looking north of I10 and in between Beltway 8 (Sam Houston Toll Road) and the new Grand Parkway (Route 99). This will put you in places like: Katy, Cypress, Tomball, Spring, Humble, Huffman.
Check out the Greater Houston Partnership's website for some great information on the economy and demographics too.
I agree with the previous response. BUT, make sure you watch out for flood zones and even see if any homes in neighborhoods you find yourself interested in have flooded despite not being in a flood zone. Flood maps are updated every now and then and being changed to being in a flood zone can ruin your numbers if you're forced to purchase flood insurance after purchasing.
Good luck!
Many thanks for those spots and tips Denise and Brian. Much appreciated.
- Real Estate Broker/Owner & Property Manager
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Trudy
Katy, Missouri City are good areas too. They are SW side of Houston and good rentals. Hope this helps as well. Ping me if you need help with it.
