All Forum Posts by: Kelli Brewer

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $670,000
Cash invested: $70,000

This was an off market deal that I found by asking an agent if she had any other listings coming up. It was completely original. We ran the numbers, saw the potential and scooped it up asap.

What made you interested in investing in this type of deal?

We already had one STR in the neighborhood and new it would perform well.

How did you finance this deal?

Conventional

How did you add value to the deal?

We redid everything to make it marketable to guests

What was the outcome?

It is the best performing property in our portfolio

Lessons learned? Challenges?

It took longer than expected. We were renovating from far away and we chose the wrong contractor. We had to hire extra people to help him and stay in the location to make sure it got done. It was all worth the struggle and we made some great vendor contacts.

Does anyone have a short term rental in Port O’Connor? I am looking for any information on the area. It seems to be mostly a fishing town but has a beach and new construction going on. 

It sounds like what you are looking for would be ideal for a graduate student looking for a quiet place to stay or a young professional just starting out that needs to be centrally located but may not have the budget to get there own place. The challenge is how to find them. Craigslist? Running a post in a local university newspaper? If you do not want any maintenance I would suggest a town home in the Heights although it may be hard to find below 300k. The heights is still a good appreciation play if you are not interested in much cash flow. Also Eado would be a good place to look. As for financing, you can finance it as a vacation home and you will just need to stay in it for a certain amount of nights per year. I can give you a good loan officer reference so you can get more details on that. 

It really depends on your investing goals. Houston is very big and as stated is like many different cities inside of one big city. Are you looking for appreciation or cash flow? What is your tolerance for renters? Do you want a family that may stay for a while and a newer property that may not have as many maintenance needs? If so that is the suburbs with good school districts. Of course some "burbs" are better than others for cash flow and appreciation. As stated the HOA and taxes may be higher. Or do you want an inner loop property that may be older but will have great appreciation knowing that if it is in a hot area like the Heights or Montrose that you will most likely deal with high turnover? I have seen my investors have success in both scenarios it just depends on what your goals are and how involved you want to be in managing the property.

@Harrison Yat what did  you end up doing? I am thinking about doing this in Houston as well.

I am also interested to know what area of Houston this VRBO is in as we are thinking of investing.