My name is Padma and I joined this Forum one hour ago. I am looking to invest in houston and this will be my first Investment.
Friends...can you please suggest which will be best bet Condo/Patio/SFH for rental ? Can you all suggest couple of good areas for Rental market.
Thanks in advance. This is my first step in realestate Investment journey. Hope someone will show me the good direction.
All are higher risk and lower cash flow than investing in a multi unit. Each has it's own particular risk.
All having a single tenant have higher expenses and are difficult to achieve positive cash flow. Condos have the additional headaches of having to deal with HOAs and other home owners that dislike renters.
Try and find a multi unit to start and preferably live in one of the units yourself.
Condos are generally not a good idea because of the HOA fee. Patio homes, townhomes, and single family homes are fine. The best is multifamily if you have the budget.
I'm actually seeing some pretty decent deals on the market right now. PM me if you would like to connect.
I purchase CONDO's for better ROI. That said for both stability and long term value, SFD's and Multi's rule. Foreclosed condo's often have less major repair issues though, and cash can be a bigger king, in some cases.
In the past I've had a good investment in the Galleria area. Upper Kirby, heights, and Med Center are other submarkets worth investigating.
I can ask you how much you have in studying the market? Many times we want to jump to buy our first deal and many mistakes can be made. Sometimes we forget to include all costs or many variables. Find someone with more experience to teach you, this will avoid headaches and will save you a lot of money.
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