All Forum Posts by: Mike Saidi

I am a beginner and trying to see if it is good time to purchase a rental property in Houston hot market. Which areas, and what type of properties (single family/condo) should I get to. My plan is to stay under $350000, but would feel more comfortable around $200000.

I do not want and do not have time to hassle with with renters, so would like to have it in areas where renters are more reliable. I have seen success stories where tenants are from big companies who move in town for a few years.

I appreciate any help, and thing to consider not be burned in a few years. 

Thanks again. That makes me feel better to invest now. I wish I could find some rental property which with equity, but houses normally sell in couple of weeks in Houston. I appreciate everyone's input.

Thanks Guys, but I am not clear when you say to have about 30% equity in them. I am looking at the houses that are listed for $350,000, but their recent appraised value by the city is $260,000. The market is hot here in Houston. The estimated rent would be around $2,800. The reason I had future value in mind was to see after how long I break even if I had to sell the propert. Considering that I have to pay for the sale commission at that time.

In Houston, Texas sale price for every house in market is about 30% over the appraisal value. Is it still good idea to buy rental property? and If it is should you estimate that the house future value will be raised based on what you paid, or appraised value which is 30% less than purchase value?