Right now I am looking at zip 77026. Is that good one? Anyone with experience in investing in Houston or in that zip specifically? Suggestions where to invest for an out of state investor? Any recommendations for investor friendly realtor and property management company in Houston? Thanks much in advance.
Right now I am looking at zip 77026. Is that good one? Anyone with experience in investing in Houston or in that zip specifically? Suggestions where to invest for an out of state investor? Any recommendations for investor friendly realtor and property management company in Houston? Thanks much in advance.
Bad area. But at least it’s inside the loop and near downtown. It’ll be an area that improves. Just won’t be overnight. I’d rather buy a bad area near town then a better area in BFE .
but that’s me
I own 4 apt buildings in that same zip and tons more to the south. It’s rough. But if you buy right they work. Last one I bought was a 32 unit. Paid $690k. They rent for about $575. So plenty of cash flow if you don’t overpay.
Right now I am looking at zip 77026. Is that good one? Anyone with experience in investing in Houston or in that zip specifically? Suggestions where to invest for an out of state investor? Any recommendations for investor friendly realtor and property management company in Houston? Thanks much in advance.
It’s a D - transitioning to a C and is turning (gentrifying ) over pretty fast. Eventually in 5-7 years it could be a solid C, maybe a even a low B one day. I’m doing a major flip in the area and will build for sure 1 more single family new build and potentially 2 duplexes. New builds going up everywhere 150-230k range.
Depends on your play in this area. If your trying to do a nicer flip or sfh rental it can def work at a lower price point than area B/C hoods.
Even a duplex can work. Yes you’ll for sure have to screen tenants. Several peeps renting section 8. Some nice new section 8, some not but many are renting top of this areas market $1300-1400.
If your trying to buy an old apt complex in the area full of 1/1s then that’ll be def more headache and potential war zone threat.
Right now I am looking at zip 77026. Is that good one? Anyone with experience in investing in Houston or in that zip specifically? Suggestions where to invest for an out of state investor? Any recommendations for investor friendly realtor and property management company in Houston? Thanks much in advance.
Bad area. But at least it’s inside the loop and near downtown. It’ll be an area that improves. Just won’t be overnight. I’d rather buy a bad area near town then a better area in BFE .
but that’s me
I own 4 apt buildings in that same zip and tons more to the south. It’s rough. But if you buy right they work. Last one I bought was a 32 unit. Paid $690k. They rent for about $575. So plenty of cash flow if you don’t overpay.
Thanks @Ryan Johnson, this one I am looking at is a 4-plex. Surely will PM you.
Thanks @Steve Rozenberg, I am more interested in cashflow and want to hold long term 5-10 or maybe 20 years. Something which can generate at least 17% (higher always better) pure CoC ROI (i.e. without considering principle reduction etc.).
Thanks @Cody L. that makes sense. That 32 units deal sounds great CoC ROI. Did you find it online (e.g. loopnet.com)? In general, is loopnet.com the right place to look for deals?
Thanks @Ryan Johnson, this one I am looking at is a 4-plex. Surely will PM you.
Thanks @Steve Rozenberg, I am more interested in cashflow and want to hold long term 5-10 or maybe 20 years. Something which can generate at least 17% (higher always better) pure CoC ROI (i.e. without considering principle reduction etc.).
Thanks @Cody L. that makes sense. That 32 units deal sounds great CoC ROI. Did you find it online (e.g. loopnet.com)? In general, is loopnet.com the right place to look for deals?
I’ve answered my thoughts on finding deals enough where rather than type it again I’ll write it on a site and link
But yes. I’ve bought plenty on loopnet. Until you have strong broker relationship loopnet is your best best. If someone says “loopnet sucks” ask what site is better
I just bought a downtown property on loopnet for 2.1m. Put in 600k. Was offered $5m. So tell me again how bad loopnet is.