All Forum Posts by: Brian Foster

Look for business/landlord friendly states as well. Texas has the legal climate you want to invest in because they are both investor and business friendly. Evictions are much easier/faster/efficient  in TX. And the job growth is best in Nation. Houston has lowest cost of entry and great values. Path of progress is on East Side of Houston. Also love anything along TX 99 Grand Parkway.

@Andrew Shen Why?

Who is going to manage your property and find you renters? That company should also be able to line up contractors to do the work you mentioned.

Here is a tool to use to see if you are looking/buying a property in a flood zone

http://www.harriscountyfemt.org/

if you buy in a flood zone, you will need/should have flood insurance. Flood insurance for properties located in flood zones is quite expensive [thousands] but relatively cheap outside of floodzones.

many areas in Htown have never flooded, some flood frequently. Do your homework. Great investment market, economy growing faster than rest of country

http://www.txprime.com/

I've been using Ryan and like him a lot, though I was getting a good deal, he did better with better coverage

@Cody L. I enjoy your posts and you're spot on. I think I know why you're saying no insurance but could you elaborate a little? I've always looked at it as "worst case scenario". So what happens if you own a property free and clear and it burns to the ground? [or in Houston floods: more likely scenario] You just eat the loss and rebuild or move on?

That's fine if you have the reserves, but for someone who moved their nestegg into a SDIRA and is now a landlord, then what? That's a big hit if your portfolio isn't big enough to withstand that property loss/damage. Isn't it? 

@Eric Rodriguez Spring/Woodlands is [and has been] a great area to look. Same with Katy. Only drawback on them right now is they are overpriced [IMHO]. Overpriced a little due to competition @Spencer I. mentioned [he is spot on]. 

I'm going to suggest you also look at areas surrounding TX 99 [Grand Parkway] including areas on East side between 69 and I10 where it is planned but not completed. Tomball, Cypress, Porter, New Caney, Huffman, Crosby. These are already excellent buy and hold areas that are being strengthened by the new toll road. It's a little early but I suspect we will all be talking about  Dayton much more, once the Grand Parkway is completed on NE Side of Greater Houston Area. 

The Grand Parkway will look like Beltway 8 in a much shorter time than it took Beltway 8 to get like it is today. The area is ripe for development due to Houston's economy. 

I'm a big fan of the Greater Houston Partnership [GHP] acts like a chamber of commerce for the city since we don't have one. They tell it like it is in both good and bad times. When there is an O&G [Oil & Gas] downturn they talk about it in detail and tell exactly what related industries & Real Estate are being affected. They put out a great report that details why Houston's growth should outpace the rest of Texas and the Nations for the next 5 years. It is backed up with some great data points that might make your decision a little easier.

https://texasturnkeyproperties.com/houstons-growth-will-outpace-nations-and-the-states-over-the-next-five-years/

@Leslie Chapman How many units do you need managed?

I think the Wealth Club is doing a great job

https://thewealthclub.org/

Good combination of teaching and people who are actually doing investing for a living