All Forum Posts by: Account Closed

Have you thought through how you will finance it? How long will it take you to recoup your initial investment? @Ash Hussain

@Andrew Johnson & @Michael Le

Wow! That is really helpful! Thank you both!

Liz

Hello and welcome!!! 

One way to find investor meetups is to use the "keyword alert" system here on BP with keywords "Houston" and "meet." 

I'm endeavoring to provide financial freedom for my family through real estate and plan to home-school my kids, too!

Hello and welcome to BP!

Houston has more than just oil & gas. We have one of the top medical centers in the world, making leaps and bounds in biotech, and we have a huge port with shipping and industry. The Houston economy is outstandingly resilient.

And I do want to clarify that the units we were able to view were kept clean and tidy. I probably should not have tossed a D suggestion in there, but the rooster walked right up to my very boot-tips in the driveway, puffed up, and crowed, which means it is a fighting rooster, and the unit we were not able to view had multiple pit bulls inside. I drew the conclusion that if the tenant is fighting the rooster, he is likely also fighting the dogs. I could be way off on my assumptions. 

Since I'm showing all my cards anyway....other observations: the back porch is falling off and will need to be rebuilt. There is a toilet in the front yard and the whole front yard smells like cat piss, car parts are stacked on the side of the house (the dump won't accept car parts,) the roof is in decent shape but kinda weird because they used two different kinds of materials, and one is supposed to be for totally flat roofs even though the section it's on is slightly pitched. It needs gutters, new windows....the whole 9 yards, so to speak. No telling what an inspector might dig up, and there's a water trail down the siding so checking for termites is a priority. 

The location is great because it is near a bike trail and a commuter metro stop. It's also the worst-looking house on the block, so fixing it up will improve the impression of that whole section of the neighborhood. The house next door looks pretty rough, too, though.

The unit on top of the garage is in comfortably livable condition now. 

Good luck in your endeavors. I'll probably see you at one of the meets around town. Happy Holidays!

Liz

@Stefan Stankovic With a complete renovation, done well, added HVAC, and maybe a security system, I do think it could pull B tenants. The access to downtown is really excellent from there, and with the exception of that property and the one next door to it, there is clearly a lot of pride of ownership on the block. Some people will be comfortable living in 2nd Ward, and others will not. "Comfort" is pretty subjective. Like I said, it needs a lot of work if it's going to pull B tenants....however, it is clearly starting out with C (or D) tenants and you will have to ride out the transition time. It looks from this thread like you are planning on living in your investment property, so the relevant question becomes: "Are YOU comfortable living in this area?"

Hi and welcome!

Of course! Happy to help! See y'all in 2018!

Liz

Hello and welcome! 

Houston has lots of meetups. There is one tonight, I see you already found it. There is also one at La Brisa in League City on Tues, hosted by Robin Williams of Keller Realty. https://www.biggerpockets.com/forums/521/topics/51...

You can set up a keyword alert for "Houston" and "meet" to find more meetings. 

Liz