Houston Texas Market

[Jamal Fontenot]

Good Morning BP Family, 

I hope everyone is staying safe and doing great with their investments. These past 5 months I've built up an obsession with real estate investing. Waking up at 5am to drive for deals, reading real estate books, listening to podcast, before work, into the late times of the night. I will admit because I haven't found anything it has discouraged me a lot, I refuse to give up though. I just wanted to ask the BP community for some advice or direction.

Little background Info:

1. * little over 20k in cash reserves specifically for real estate
2. * pre-approved for up to 250k
3. * I'm in the Houston, Texas market. 
4. * looking to use and FHA or 5 to 10% Conventional

I've looked into areas like Katy,cypress, and inter loop Houston for buy and holds but the numbers don't make sense from what I would get on my monthly mortgage compared to what the rents are. I would either break even or be left with a very small margin. Any ideas of what my next steps should be? I've heard about the ability to buy down my interest rate, I've looked into lower class communities like the sunny-side area, I've even looked into the 203k but haven't a broker who can find a lender to fund this loan. Those anyone have any advice to an eager newbie in the real estate game? Any advice is welcomed and appreciated.

[Stanley Ezeadi]

Hey Jamal,

I was in your shoes about a year ago. If you're currently renting I would definitely make the first purchase a house hack which will in time grow your cash reserves. Wouldn't it be nice to look back a year from now and have a 60k war chest for your real estate endeavors? I can definitely share my experience and where I am with you.