All Forum Posts by: Rick Alvi

Thank You!! @Kevin Wood @Atta Shay @John Broussard @Khanh Nguyen I really appreciate your responses :)

Thank you @Chuck Webb , @Account Closed that info was just what I needed to see! I appreciate this info everyone. -Patrick

Hey guys,

I'm looking at my first primary residence. I have a feeling prices are inflated at the moment (summer) and was wondering if there is a general strategy in the Houston market to avoid some of the inflations we experience in home prices throughout the year (for ex: parents wanting homes in school districts near the start of the school semesters). My gut feeling is telling me October/November and possibly February/March may be the best times to buy for the best "deals." Thanks!

Thank You all.

@Fred Heller thanks again Fred, always a big help on the forums here at bp

Hey guys,

I hope you all are ok after the intense rain and flooding we experienced. What flood maps or tools do you like to use? I like the Harris County Flood Education Map Tool but unfortunately it's glitchy and only works sometimes... with this said... what websites, tools, maps, etc. do you all like to use when considering real estate? I might as well ask another question since on this topic, is there a way to determine flood insurance costs and comparisons using the tools for the Houston and surrounding areas? Looking to buy my first primary residence this year. 

-P

Thanks guys!!

@Rachel Pervis@Luka Milicevic@Scott Trench@Cody L.@Edward B.@Christopher Cousin@Jake Thomas@Belinda Lopez@Chris Martin

Hey thank you guys so much for the incredible responses with such a wealth of great opinions. Ever since graduating with my bachelors I've actually never used my degree. I used my passion and talent to create a small business. I'm a sole proprietor at the moment and I've always had the mindset of working for myself and investing in something so that I can have an extra income vehicle. It's scary working for myself sometimes but it's rewarding. I was considering the "house hacking strategy" but my market is hot at the moment and it's very hard to find good deals. I may house hack if I can find a good deal once the market comes down a bit. But here's the thing... I like to keep an investor mindset as often as possible. I want to retire in 10 years. In "Rich Dad Poor Dad" Robert talks about houses being a liability more than they are an asset. I don't mind living with roomates to save money in an apartment while I pursue the best investment for my money. Living in an apartment with a roomate means no maintenance, no roofs to fix, leaks, etc. etc. Grant Cardone and a few others have said Commercial is the way to go and to not waste time with sub 5-unit investments. Quite honestly, from what I've been following, buying just one commercial property can change a persons financial life for good (positive or negative of course). For this reason, I sort of want to skip the primary residence ideas and go straight into a commercial investment (more cash flow and fewer roofs to fix). I'm not sure what's better to start in for my budget of $200-300k (mobile-homes or small apartments). What I may do is pay off half my student loans now and then start saving for investment. I actually already have 5-months of savings and a $1,000 rainy day fund. Thanks for the great opinions and time. -Rick

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