All Forum Posts by: Patrick Scott

I have one SFH in 77449 and have a modest cash flow that I am happy with. My plan was to purchase more SFH in the area but as I look at other properties see that rental inventories are continuing to rise. Homes for sale similar to mine are moving quick but so many more units are being built that I don't know how long that can last. I have seen mini-bubbles pop in a few Houston suburbs when developers start building too quick.

Also, the schools in the northside of this zip code (CyFair) are starting to slip as people move south to be in Katy ISD or west to a newer school.  The school information is purely anecdotal from friends who live in the area and from a friend who is an administrator in the district.  All that aside the school stats are still decent and CyFair has a fairly long track record of good schools overall.

Anyone disagree? What am I missing, either good or bad?

I have one SFH in 77449 and have a modest cash flow that I am happy with. My plan was to purchase more SFH in the area but as I look at other properties see that rental inventories are continuing to rise. Homes for sale similar to mine are moving quick but so many more units are being built that I don't know how long that can last. I have seen mini-bubbles pop in a few Houston suburbs when developers start building too quick.

Also, the schools in the northside of this zip code (CyFair) are starting to slip as people move south to be in Katy ISD or west to a newer school.  The school information is purely anecdotal from friends who live in the area and from a friend who is an administrator in the district.  All that aside the school stats are still decent and CyFair has a fairly long track record of good schools overall.

Anyone disagree? What am I missing, either good or bad?

Thanks for the input and I would have to agree after looking at 77008 stats rather than just my anecdotal knowledge.  My strategy is for buy-hold-rent and will continue to look for deals in 77009.  Currently trying to work with some wholesalers but their rehab costs are rather optimistic... I agree with the ARVs but for a rental property would need to address more than just cosmetics.  

My day job is in oil and gas and I don't see the oil recovery having nearly the impact it had the past few years on  property appreciation.  I could be very wrong and will end this tangent there.

Spent some time driving around 77009 and it feels like the Heights/ midtown area 15-20 years ago.  I see a lot of opportunity but surprised that this area hasn't turned around sooner given its proximity to downtown, light rail, Heights, etc.?  Anyone have any insight or investing in this area?

Anyone invested in Katy north of I-10, particularly zip code 77449? Seems like there is a strong rental market with opportunities for decent cash flow but there appears to be a ton of inventory and more new build SFH and apartments. Is this area about to be over saturated? Where are you looking at next?

Interested as well just purchased in Katy and looking to do more.

Anyone looking in NE Houston?  Looks like there is a lot going in that area but not sure on the stability, seems like its growing too fast and not seeing Generation Park come to fruition outside of one company.

Thanks. I am in West Houston (Energy Corridor) and the market is really cooling, have you seen same in those areas? Do most people commute into Houston or are they working locally? Looking at the job market locally seems a lot of people are getting laid off and I surprised the market has remained as resilient as it has.

Looking for any advice/ recommendations on areas in Houston. Just getting started in real estate investing and trying to follow the BRRRR strategy. We have had some success in buying homes, living in them while refurbishing, and then reselling but looking for a more long term strategy.

We are local but not necessarily that familiar with the city.  Any and all feedback is greatly appreciated.