All Forum Posts by: Patrick N.

Looking for LTR opportunities and curious which metros in Texas are best for cashflow currently? Curious what cap rates are you all seeing in these areas?

Thanks Charles!

Hi BiggerPockets Community!

Any recommendations for insurance providers on a duplex? What would a reasonable rate be?

Thanks in advance!

-Patrick

Thanks Sharon. It doesn't seem like the oil downturn negatively affected Houston's housing market. Or is it still too soon to say?

$100k based on comps

I'm preparing to submit my first offer on a property. It's currently listed on the MLS and would need little-to-no rehab. Basically turnkey. How do I determine what an appropriate offer would be? If it's listed for $100k, would a $75k offer be too low? Would a $95k offer be too high? Is there a general percentage rule-of-thumb to follow?

Thank you in advance!

Try Champions: http://www.creg1.com/Pages/brokersponsorship.aspx

Great for part-time agents. I was referred to them and have been happy thus far.  

I currently live on the border between EADO and the East End. EADO is certainly further along the gentrification process than the East End, but you can definitely see the revitalization continuing to spread east. New townhome construction, the Metro Light Rail, new restaurants, a weekly farmer's market, multiple Crossfit gyms, a makerspace, a hike/bike trail, and art galleries are recent additions to the landscape now. Combine all that with an existing infrastructure that had already had in a place a golf course, performing arts theater, and the best Mexican food in town (Ninfa's, El Tiempo, Villa Arcos), and you've got a good recipe for explosive growth. Not to mention the plethora of empty lots prime for even more development. It's crazy.

I'm in East Downtown so I get quite a bit of traffic. My home is also not too far from the Medical Center, University of Houston, or the George R. Brown convention center. My recommendation would be to at least list your place on the site since it won't cost you anything. They will even come take professional photos for you free of charge.

One way to ease into it is to rent out your extra room(s) for a few months at a time through AirBnB. I'm doing that now with my two rooms, and have not had any issues because I only rent to people that have stayed with other hosts and have been reviewed. AirBnB collects rent for you and insures your home. The whole process is pretty seamless.