All Forum Posts by: Account Closed

@Eric Cossey I'm the same way sitting on the sidelines as well trying to figure out the market and how to get started.  I've talked to a few people and it seems the Houston market is tough right now, becoming like the other major cities as real estate prices rise.

@Michael Streich I'm not the expert on costs, more knowledge on the building codes/permit and efficient and durable construction.  But what I've been told in talking to other developers right now in Houston having a 3rd party construction it can be ~$120 to $150/sf on a very simple construction.  However doing self general contracting it is of course much less. @Eric Cossey please comment if I'm mistaken.

I've met with Mark Thiele before at HHA and we talked about providing more housing in Houston, even development.  They do have a open seminar for landlords to get to know the program and ask questions.  http://www.housingforhouston.com/property-owners/prospective-property-owners.aspx

@Andrew Teng This was a recent BRRRR post in my area: https://www.biggerpockets.com/forums/223/topics/33...

It sounds like one of the most important things before doing BRRRR is to talk to lots of financial institutions to see who's willing to work with you on the whole process even before purchase. And even if they say no, ask how can I make this work, or even ask them for referrals to other banks. Chris Heeren mentioned local Credit Unions are favorable since they don't have to play by the rules banks have to comply by.

@Matt Burr I wish the same for you too.  Keep me posted as well on your journey!

@Andrew Dao would be great to connect!  PM me and let's start chatting.

@Bill Gulley thanks for the tip on TIC and Condo regulations. Very interesting and I'll be learning about it.

@Dante Pirouz I'm calling all credit unions around me to get past the restriction of banks on refi like Chris Heeren on show 197.

@Kendra Limbrick that's great motivation for me that you are doing it here in Houston!  Thanks!

Thanks for the input @Sue Orr and @Rafiq Merchant! Sue, would it be possible for you to connect with other agents who are investors to see how they navigate all the restrictions?  I know Sharon Tzib is well known on BP for Houston.

Wanted to get some opinions and thoughts on my mulit-family real estate business strategy:  

I have experience as a multifamily architect but I want to get into investing/development. My plan is to start with 2-4plex with Cap Rate of 8%-10% here in Houston or Harris County using the BRRR strategy. I will do 4 of these by the end of 2017, and after getting enough experience renovating, start my development arm by building a small multifamily for my family to live in (using FHA loan) for 2 years. I will essentially swap back and forth between BRRRR and development depending on the market to continue build my business.

My dream is to provide more housing options here in Houston and foster a sense of community in my multi-family.  Also have the financial freedom to be with my family and to serve here and overseas when I want to as a volunteer architect for underserved/developing communities.

Thanks in advance for any feedback!

Hi Sue,

I'm an addict too as a confession!  Welcome to BP.  My wife just got her lisence recently and we're almost finished planning our real estate business.  We will be doing buy rehab and hold to start though.

I definetely can see advantages being an agent as you have great networking opportunities for leads to keep as your first and also have an income in the same industry.  Just having HAR realtor access alone is great for research and comps. What could be the negatives?

I'm really interested in Ft. Bend County as well though I live near City Center and not as familiar.  What are your thoughts on that market for rentals?  What do you think of Rosenburg for rentals?

I don't know if your county has tax records online to view by owner name.  But that's how I do it in my county:  search by owner name, then it will list all the properties by the owner.  If not, you can try Listsource.com.