Houston Rental Properties

[Matt Skillern]

I am interested in purchashing rental property in Houston. I have read many of the forums that explain to estimate cash flow you really have to factor in expenses FAR beyond the PITI. I saw some posts that say expenses are 50% and my question was very BASIC, 50% of what, the monthly rent?

My family has been saving for years and we have the liquidity to do something. The questions are what should I do and how?

I thoroughly read the thread about lifestyles unlimited. Not knowing any thing about them, getting workers who could do rehab at a value cost seems worth it, but it also seemed like there was a lot of skepticism.

I see plenty of 3 bedroom homes in the Houston area from between 70k and 110k. I just do not know where to begin.

I am an attorney and I have my own firm so I will keep my day job, forever. I would just also like to build up other sources of cash flow.

[Account Closed]

Matt Skillern Glad to see you are looking into multiple streams of income. Rentals are a great way to provide that extra cash flow. You have taken the rights steps by joining BP and looking into resources such as lifestyles. There are other great organizations in the Houston area that you could look into as well. Some of these places even have mentoring programs. The more you educate yourself, the better your investments will turn out.