All Forum Posts by: Marcial Pimentel

I started learning about REI earlier this year and will be closing on my first property today actually. I attribute this to listening to an older "90 Day Challenge" podcast episode and just getting started.

One of goals for 2020 is doing my due diligence to learn land-lording and to rent out all the rooms in this new home.

And thanks @Vijaianand Thirunageswaram for hosting the party! And to all my Katy meetup friends who I've gotten the pleasure to meet and learn from/with.

https://www.chron.com/techburg...

Putting this new development out there for people looking at investment properties. I was looking for a home in this area because I knew that this development was on the way.

Not saying this would be a good investment. If anything I would love to hear what others think about developments like these for investment properties. Let me know yall's thoughts!

Hey Nicholas, thank you so much for your feedback and input! My main driver to keep going is to minimize my risk by making sure that
A. I get something I would be okay to live in and,
B. being able to pay for it on my own.

With those two in mind, I shouldn't be going in too deep with REI. My hunt continues and I've been working with my agent to analyze houses to find one that'd work. Again, thanks so much for your write-up and wanting to lend a hand; I'm sure it'll be useful for other people who might be starting out such as myself.

I didn't know about this, so thanks for sharing. I'll try to keep aware when I look at a house whether this might be an issue.

I think some of us suggested less of a crowed bar atmosphere and one that might make talking to one another or to the group easier. And while that is probably the better choice, I do love a good bar outing haha

Also, some of us are getting together at the Panera on Kingsland by Katy Mills on the 3rd.

There seems to be a lot of interest for reviving a Katy meetup, but obviously Panera and Starbucks won't be the most accommodating if the demand continues growing.

Would love suggestions for a venue/location for a get together where we could meet, discuss obstacles and lessons, deal analyzing, or otherwise talk about news on a biweekly/monthly basis.

Thanks again for all your help everyone, I really do appreciate the good info in the thread so far!

Just wanted to give an update on my hunt:

• I'm taking the advice in this thread and making sure to only look for properties that are at or under $200k. I would love input if I should be looking at no more than $200k, including repair costs. (Seems like that's what the posters above mean but doesn't hurt to clarify.)
• I've been looking at 4br homes as I plan on renting out the rooms and figure that more rooms will be better for a buy and hold in the long run
  

For anyone interested in my process for looking:

1. I search on the MLS, put houses that I'm interested in on a Google Doc for my agent to see and she gets me the seller's disclosure.
   
2. From there it's usually go/no-go for scheduling viewings, during which I use Evernote on my phone for notes about everything I see or that she points out.
   
3. Then I take all the info and numbers, get confused and lurk here and Reddit haha
   

I can leave it open, I'll be commuting back from the Galleria so any time after 6 works for me.

I saw in another thread that a lot of people were interested but weren't able to reach a time and place. I'm more than willing to help organize time and place to actually make it happen!

@Jodi Gauthier Thank you so much for bringing that to my attention. So I should be wary of areas that are stagnant and not growing in appreciation? I looked up it up, but the main thing to worry about it appreciation not moving or even worse going down, negatively impacting cash flow correct? If I'm wrong about anything please feel free to correct me, that will be most beneficial to me and others who may be newer and reading as well!

To tie in with what Chris mentioned in his comment, is there a price range that you like to look for investments in these areas? I'm just starting out and have been looking for 3-4+ bedrooms in houses at or around 200k. That said your feedback and zipcode examples are really appreciated!

I'm actually going to my first viewings today (first of many) so thanks everyone!