All Forum Posts by: Jesse Castro

I provide a fridge, stove and dishwasher only if the house originally had one. no on the washer and dryer but that's pretty standard in my area. I prefer not to rent to family or friends and I try not to get too close to the tenants, learned the hard way with my first renter. Our close relationship made it easy for them send late payments and even miss rent and it was difficult on me to evict.  Don't worry you'll learn quick. one last thing keep GOOD records of everything, expenses, repairs, vehicle mileage etc. Good luck!

I purchased 5 acres and a run down small house just north of Houston, TX. I now find they are interested in building a railroad though the back side of the property and the company says they would want the entire parcel. I personally don't want to sell but I understand they could ultimately use eminent domain if I refuse. The house needs a total rehab,  and the recent update makes me want to put the brakes on this project. For those with similar experience would you continue improving the property? or just stop and wait to see what the outcome is? it seems to me that the improved property will fetch a higher market value if eminent domain is ultimately used.

I wouldn't do it. save your money or put it elsewhere and just spruce up the garage a bit. Paint the walls and floors. paint is cheap.

Hi Benjamin and welcome to BP. I wish you much success in your endeavors!

Prices are definitely up in Houston but so are rents. for 200k I think you'd be able to purchase 2 homes in the suburbs (3/2/2) built in the 70's and cash flow. in Spring isd, Aldine isd, possibly Klein isd and cy-fair. 

I will not rent to someone with a broken lease. bad credit, with a good length of residence and good length of employment ok but a broken lease is a definite no for me. learned the hard way. 

welcome! Good luck in your endeavors !

 First welcome to BP and to investing in houston. rents are really high right now. I just assisted a retired gentleman purchase 2 homes at around 65000 each at the end of 2014. He  is renting each for 1000/ month. Only had to do minor repairs ( paint and carpet). he paid cash so he has no mortgage. If he were paying his taxes and basic fire policy  monthly it would cost 300 dollars. Per month. So as long as nothing major happens he stands to profit 700 on each unit per month if he manages it himself in his case he is. Definitely money to be made here and having cash is a huge plus. Good luck I know you will succeed.

Welcome and good luck in all your endeavors!

When's the next meet up? Thanks!