Beginning to Strategize to Invest in Houston
Hello, all! I'm new to REI and I've been continuing my education everyday for a couple of weeks. The more I learn about REI, the more excited and passionate I get about acquiring my first rental property in Houston! I want to start looking at deals and making offers, but before I can do that, I have a couple of questions that will greatly help me determine if something is a good deal or not.
1. As I’m searching for deals, what tools can I use to find out what neighborhoods certain properties are in? I use Google Maps but it doesn't show me all of them.
2. Once I've identified a property -- for my purposes one that is distressed -- what tools can I use to evaluate what the price of similar properties are in the area, so I know about how much it's worth after rehab?
3. What's the typical cash flow, CoCROI/ROI you want to aim for for Houston properties? I plan on investing in 2-3 bedroom single family homes or small multifamily properties in B-C class neighborhoods, so any insight into the specific numbers for these kind of properties would be greatly appreciated.
Thanks in advance for your answers.