Beginning Houston, Texas Investor

[Brian Alfaro]

Hello! I am new to BP and to RE investing. I am 29 years old with a business degree and current full time career in Hospitality/Food Service. I am a partner in a startup coffee shop, and I advise another restaurant franchise remotely.

Managing two concepts has taught me the skill of planning, executing, and staying disciplined with my time. I am hoping these skills will be valuable in building my relationships locally with other real estate enthusiasts and managing my RE portfolio.

I am currently in the process of building my RE knowledge, relationships, and deciding on a strategy to focus on (BRRR, Buy & Hold, Flip). Almost all of my free time is being spent reading, listening or watching something related to RE investing. I am open to any recommendations for someone in my position that is new and juggling multiple opportunities. In addition, I am certain I am going to need to form some relationships with:

1) A local investor friendly agent who wants to build a long term mutually beneficial relationship. I understand you have to move fast in this market, so having someone experienced is important

2) Local, small banks that can assist me with financing

3) Local contractors with a good reputation to do work if/when needed

4) Other local investors or RE professionals who are interested in forming relationships and occasionally meeting up to pick each other’s brains

Please feel free to reply or connect if you're interested in building a relationship in one of those categories (or just introducing yourself) or if you can make a recommendation! I am reading/hearing that Houston is extremely aggressive, so as a beginning investor, I am thinking of focusing on some of the suburbs of Houston (Sugar Land, Richmond, Rosenberg, Katy, Cypress, Etc.). I'd like to hear what everyone else thinks about where to start. I live in the Fort Bend area, currently. 

[Tony Castronovo]

Hi Brian. Those suburbs are equally as competitive. But you can do it! Just don't overpay for properties in order to "win". Develop your parameters and stick to them. In other words, maybe you are looking for a SFH rental and want to cash flow $300/month and achieve 10% COCR. If so, analyze deals, and don't pull the trigger if it falls short of your parameters. But when it *does* meet your parameters be ready to take action.