All Forum Posts by: Jimmy H.

@Lana Chen  Do you plan to have a property management company help manage the rentals since you'll be an absentee owner?  Make sure you factor that cost into the calcs as well unless you plan to manage it long distance yourself.  Welcome to BP; there's opportunities in Houston but one needs to weed out the duds as well.

Is there a median price point which if above it would be more negatively affected by a potential slowdown?  For example, homes over/under 200K, whereas above it would be more negatively affected than those under 200K etc.

Which area of Houston is this?  I can probably help confirm rental pricing.

@J. Martin  Congrats on all the success and thanks for sharing and the inspiration!

@Sohrab Khosravi Which area are you seeing these?  I am trying to picture the "heat map" in my head.

That's why I ask here to see what other viewpoints are.  I don't think that's too much of an issue either but to be honest I personally don't like properties in that exact scenario, and would think hard about buying my residence in the elbow spot.  Also, some demographics have aversions to those locations and if the property is in a market with a heavy presence of those demographics, then it is not far fetch to say that it might have problem selling without discount, and that can turn a good deal into mediocre or bad.

So at times I come across potential properties to acquire but they are on the elbow of L shaped roads, where it could seem like having a car in your living room one of those nights when the driver is intoxicated or falls asleep.  

In your experiences, would most buyers pass on those properties unless a significant discount from the comps in the neighborhood?  I am thinking that I might have to take those negatives into consideration and discounted from the purchase price as I see issues with the number of buyers potentially cut in half.

Good to know @David Holt.  Thanks, I'll keep that in mind.

This is a great thread.  I was about to start a new thread asking about foundations but this thread just about answered all my questions.  I am just going to assume that foundation issues are common here in Houston as well.

Sometimes hindsight is 20/20 and maybe these issues were not that apparent then when it happened but a lot more apparent in hindsight.  There seem to have had a lot of red flags along the way ... glad it wasn't worse and maybe we can all learn from it.