Houston to Galveston- Buy and Hold
I am eagerly anticipating my first steps into real estate. I have spent several months saving and researching for my first investment. I currently live in the League City area and would prefer my first rental property to be located close by (south of downtown). I am born and raised in the area and fairly familiar with the region. More than anything I was hoping to get some feed back on the best places to find quality investment properties. I currently use realtor.com, loopnet.com, as well as, my girlfriend. She has recently become an agent. To better clarify, I am curious if there are any hidden places that specialize in investment properties, similar to the BP marketplace, that can be sorted by zip code, price, etc.
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Appreciation is generally minimal in the Houston burbs. My appreciation in the past 10 years has probably @20% on average, nothing to brag about. Cash flow is great. My wife and I live very comfortably on 11 properties.
Pearland has a double whammy, not only are the schools excellent, but their sports programs are phenomenal. We frequently are asked by our non-Pearland tenants to let them know when a Pearland property comes available.
The sweet spot for rent is $1000- 1500, so try for properties where those numbers will work. 4 bedrooms rent faster and higher than 3 bedrooms.
If you want to talk sometime, I will be happy to further answer your questions.
Randy