All Forum Posts by: Sarah Kline

Ours is in 3rd ward.   The bones of the structure and brick exterior were in great condition.  The rest of it was pretty bad.  We didn't have roof work or foundation or structural damage.

That would depend on initial condition, but to add HVAC, upgrade all finishes, redo plumbing, electrical, paint exterior and interior, exterior upgrades and landscaping - ended up being at least $25k per unit.  This did not include appliances or the driveway.

We did luxury vinyl, quartz countertops, a modern style full upgrade.

We ran our numbers on 10% vacancy.  However, after remodeling, we rented out all 4 units in August in less than 2 weeks.

@Jacob Smith We are looking for small multifamily opportunities.  

We are rehabbing a fourplex property in third ward, should be ready for tenants next month.  We are also looking for property in the east end!

PM me if you would like my contractor's information.  He mainly works in the Sugar Land area, but he is doing a remodel for me in Third Ward, so I'm sure he will travel to a certain extent. 

We are investing in Houston rental property and are looking for a new CPA.  We would like to find someone aggressive, experienced in real estate investing, and local (we are located in Oak Forest).  Please reply or PM if you have any good recommendations!

@Daniel Jarvis It's four units.  There are pockets that we feel are safe and will appreciate well, and there are pockets where we won't even consider buying.  I am often in the area alone, and we don't plan to use a property manager.

My husband and I are in the process of purchasing a multi-family in third ward. The appeal for us was in both appreciation and cash flow. Though it may not be the easiest area of town to find a deal (due to the pricing issue), it was easier to get closer to the 2% rule here than in the more developed areas close to downtown. There are a lot more multifamily properties, which helps. We see potential for BRRRR here - time will tell if we are right!