Lender · San Antonio, TX · Member since 2016 · 1k+ posts · 1k+ votes
7y
@Ryan Johnson I'm getting a lot of great deals right at 45 and 10 with some infill lots that people are starting to recognize as being 3 minutes to downtown and a lot of development spill over from the stadiums. Now there's still plenty of places in the 5th that I won't go to during the day, but people are starting to see some jewels in it
Lender · San Antonio, TX · Member since 2016 · 1k+ posts · 1k+ votes
7y
@Ryan Johnson I'm getting a lot of great deals right at 45 and 10 with some infill lots that people are starting to recognize as being 3 minutes to downtown and a lot of development spill over from the stadiums. Now there's still plenty of places in the 5th that I won't go to during the day, but people are starting to see some jewels in it
@Ryan Johnson I'm getting a lot of great deals right at 45 and 10 with some infill lots that people are starting to recognize as being 3 minutes to downtown and a lot of development spill over from the stadiums. Now there's still plenty of places in the 5th that I won't go to during the day, but people are starting to see some jewels in it
Also is 45 at I10 really still 5th ward? I consider the 5th to be closer to and east of 59?
Houston, TX · Member since 2018 · 2 posts · 1 vote
7y
Northside - Hardy Yards near I-45 and I-10 is an up and coming area. You can find houses around $300k. Close to the Metro Rail that goes downtown. Where I’m at right there was not impacted by flooding
Investor/Agent · San Francisco, CA · Member since 2016 · 77 posts · 25 votes
7y
@Jason Hirko and @Ryan Johnson I'm definitely open to places outside the loop. Are there places that still have strong upside potential, cash flow, and aren't in a rough area?
Top 2 criteria are areas (1) on an upward trajectory and (2) with decent economics.
Rental Property Investor · San Diego, CA · Member since 2013 · 3k+ posts · 4k+ votes
7y
I just bought (2 weeks ago) a 40 unit in eado ($1.4m). Another good value apot to buy. Likely more (sooner) upside than 5th ward. Mainly because current demo is Hispanic vs black (may sounds racist but it’s true. White hipsters are more likely to move into a predominantly Hispanic area va black area)
People think I'm crazy but I love the Fifth Ward right now...
I hear ya. I paid $400k for a 32 unit in 5rh ward. Just apprised for 1.3m and put $1m of debt on it.
That type of deal can’t be found in the areas that have already popped.
Maybe we should be telling people how bad the 5th still is???!!!
lol, I've just told it how it is -- or how it is IMO. It's worked for me. No reason to sandbag an area in hopes of bottom feeding. As much as I think I buy, I'm the small minnow in a huge ocean. So I can cheerlead or sandbag -- don't think I'll change the tide.
Developer · Houston TX · Member since 2018 · 423 posts · 400 votes
7y
@Sean Yuan EDO area is already too hot. I bought back in 2009 and 2010 for like $80k for duplexes and triplexes. Now these properties are valued over $300k. If you have the stomach and want to see both appreciation and good cashflow look at SunnySide area of town off Cullen and 610 before Belford. Lots of new construction over $180k that is selling. A builder worth looking at is Mayberry Homes. They get into areas that was considered war zones at the right time and have made great stride in selling. I recently bought three properties in that area and have done the BRRR method and have no money in any of those properties but cashflow over $400. Just thought I would share my thoughts with you. Best of Luck
Developer · Houston TX · Member since 2018 · 423 posts · 400 votes
7y
@Cody L. You make a great point. I see EADO play as a safer beat for the same reasoning you have. Congrats on the two deals. I have seen a few of your properties and respect your work. Fellow CA in Houston. Cheers
Developer · Houston TX · Member since 2018 · 423 posts · 400 votes
7y
@Armand Farr As Cody mentioned in one of his posts here.... find areas that are more Hispanic population and you can find good deals. If you look at the triangle between 45 and 59 in the Hardy Yard area can still get older homes for good price and good cashflow with good potential of appreciation.