New to Houston Area Looking for some advice

[Richard Mcatee]

Hello Everyone,

I just moved to the Woodlands area, from Fort Lauderdale, Florida. I am currently renting an apartment until I can learn the area and buy my next deal. I am very new to real estate investing and this would be my second deal. I currently own a duplex in Fort Lauderdale right now. I used to live in the front half and air bnb out the back half. Now that I have moved to Houston, I rented the front half out as a long-term rental and the back half is a STR on air bnb. It's currently cash flowing about $1000 a month and has been a great deal. I attribute most of my success because I had an amazing realtor Heidi Braunhardt of Fort Lauderdale who spoon fed me a lot of information and mentored me through the whole process. Look her up if you are investing in south Florida. I met her on here. She is AMAZING!

I would like to use the same strategy here in Houston and purchase another duplex or triplex where I could live in one unit and rent out the others either STR or LTR. I have not seen too many multifamily in this part of Houston. Are there any areas that anyone here can recommend I look at that would be safe to live in as well as rent out?

My second idea would be to buy a single-family home with a detached garage and convert the garage into an apartment to have another LTR or STR.  Does anyone have any experience with this in Houston? Is it easy to get permits for and allowed in certain communities? If so, where would you recommend, I look?

My last idea would be to buy a single-family home and house hack. Does anybody have any experience with this in Houston and recommend any areas I should look at?

Lastly is there anything I am missing here? Anyone on here with any recommendations on something I haven't considered? Also, anybody have a good realtor recommendation for the area?

Thank you so much in advance, 

Ricky

[Dylan Eldred]

Hey Richard, I'm an investor and realtor in Houston currently doing a rent by room househack in southwest Houston, nearby the medical center. If you are looking for a small multifamily in Houston in a decent area I'd look into Second Ward or East End area. Close proximity to downtown and new construction going up in that area. If you are doing a rent by room I would look at homes near areas where single young professionals would want to live or near where they work. Some places that come to mind are Medical Center, Montrose, Heights, possible Energy Corridor. 

I host a monthly meetup, that's always the last Wednesday of the month at Astral Brewing in Independence Heights if you want to meet other househackers/investors in the Houston area.

[Holly Brown]

Hi Richard,

Sounds like you are well into creating your investment portfolio. That is fantastic to hear. I have done similar to you, house hacking duplexes and converting them into mixed use (depending on what the market is in need of). I have yet to buy an actual duplex, but have purchased SFR with garage apartments already at least roughed out(plumbing/sewage and electrical to the rear structure). I have had similar returns as you have mentioned above with this strategy so I believe you could definitely reproduce here in Houston.

If you want to connect, I am a realtor and have a small team here in Houston and also in Galveston that focus on investors/investing. 

Good luck and welcome to Houston! 

[Wale Lawal]

@Richard Mcatee

I am a real estate agent and investor in the Houston market.

Katy, Cypress, Spring, some parts of Houston, Conroe, Tomball, Pearland are great markets.

Rent growth and appreciation is steady.

These cities tend to command quality tenants, and they have great schools.

All the best!

[V.G Jason]

Hey, are you looking at Houston in the loop or greater Houston?

[Eliott Elias]

Happy to connect 

[Richard Mcatee]

Quote from @Dylan Eldred:

Hey Richard, I'm an investor and realtor in Houston currently doing a rent by room househack in southwest Houston, nearby the medical center. If you are looking for a small multifamily in Houston in a decent area I'd look into Second Ward or East End area. Close proximity to downtown and new construction going up in that area. If you are doing a rent by room I would look at homes near areas where single young professionals would want to live or near where they work. Some places that come to mind are Medical Center, Montrose, Heights, possible Energy Corridor. 

I host a monthly meetup, that's always the last Wednesday of the month at Astral Brewing in Independence Heights if you want to meet other househackers/investors in the Houston area.

 Hey Dylan, Thanks for the reply! I will definitely look into those areas. Out of curiosity what is the going rate for a monthly room rental here in Houston? Also would love to learn more about the monthly meetings you host. Can you send more info? What time do you guys meet?

Thanks,

Ricky

[Richard Mcatee]

Quote from @Holly Brown:

Hi Richard,

Sounds like you are well into creating your investment portfolio. That is fantastic to hear. I have done similar to you, house hacking duplexes and converting them into mixed use (depending on what the market is in need of). I have yet to buy an actual duplex, but have purchased SFR with garage apartments already at least roughed out(plumbing/sewage and electrical to the rear structure). I have had similar returns as you have mentioned above with this strategy so I believe you could definitely reproduce here in Houston.

If you want to connect, I am a realtor and have a small team here in Houston and also in Galveston that focus on investors/investing. 

Good luck and welcome to Houston! 

 Hey Holly,

Thanks for the reply. I really like the SFR with garage apartment idea. Sending you a PM.

[Richard Mcatee]

Quote from @Wale Lawal:

@Richard Mcatee

I am a real estate agent and investor in the Houston market.

Katy, Cypress, Spring, some parts of Houston, Conroe, Tomball, Pearland are great markets.

Rent growth and appreciation is steady.

These cities tend to command quality tenants, and they have great schools.

All the best!

 Hey Wale,

Thanks for the reply, What kind of strategies are you using on you investments? Do you own anything in those areas or where do you invest?

[Richard Mcatee]

Quote from @V.G Jason:

Hey, are you looking at Houston in the loop or greater Houston?

 I'm looking anywhere that's up to 1 hour driving distance from IAH. 

[Adam Bartling]

You got the right idea, just find the deal that makes the Dollar

[Wale Lawal]

Quote from @Richard Mcatee:

Quote from @Wale Lawal:

@Richard Mcatee

I am a real estate agent and investor in the Houston market.

Katy, Cypress, Spring, some parts of Houston, Conroe, Tomball, Pearland are great markets.

Rent growth and appreciation is steady.

These cities tend to command quality tenants, and they have great schools.

All the best!

 Hey Wale,

Thanks for the reply, What kind of strategies are you using on you investments? Do you own anything in those areas or where do you invest?

 Yes I do use some strategies and I am an investor too.

Happy to connect for more information.

[Jay Thomas]

Hey @Richard Mcatee , let's connect to discuss all the exciting opportunities that are currently available in Houston, Texas! I'm an experienced investor and realtor with years of experience to share. I'm here to help you make sound investments, while also providing mentoring and advice on how to take advantage of the current market conditions. Let's get together soon so we can start exploring all the great possibilities Houston has to offer!