All Forum Posts by: Ann Howell

I lived in mid Michigan for a dozen years and have family in Grand Rapids.  Michigan is a terrific state with beautiful outdoor recreation areas.  It is MUCH more than just Detroit.  

And I agree that GR is a nice city, if you can handle the winters.  I have not priced it out for investment properties, but it seems like it would have potential.

Thanks for this link.  We are looking for a Houston RE attorney.  I had heard about Steve Newsome.  The interview really shows his knowledge.

Thank you.  I needed this information as well.

That is an interesting historic point.  It makes perfect sense.  Thanks for sharing!

@Mike Hartzog thanks for the link to the blog post.  I'm accustomed to working in Excel and find this much easier to follow than the financial calculators!  I have some studying to do this weekend!

@Mindy Jenson - congratulations!

Property taxes in Houston are very high - it is the downside of having no state income tax.  When housing prices appreciate a lot, it is great for re-sale, but it can significantly increase your tax burden before you sell.  We contest our tax appraisal every year, because our property taxes go up about 20% every year based on the appraisals,  You need to factor in taxes when buying in Texas.

I am just getting started with buying rentals. I live in Houston, but I have not found deals here that appeal to me (CAP rates are not good enough due to high purchase price). I have put contracts on two out-of-state properties. I think the housing market in Houston is overpriced, and the oil slump will start having an impact. Maybe I'll be able to buy here at that point. For now, the numbers just don't work. You can't get a good deal if you are in a competitive bidding process. We bought our energy corridor personal home two years ago and it was extremely competitive. I will go through that for my personal home, but not for an investment property.

Congrats!  That is a very inspirational story. You accomplished a lot in four years.  This makes me want to raise my goals and super-charge my pace!

Great topic - very relevant for me.  Looking forward to learning more!