Looking for a mentor

[Karmen Wong]

Hello! I am a new member on BP, but I have been listening to the podcast for awhile now. Looking to find a mentor.  I live in Walnut Creek, CA, but is looking to invest in something in Houston, TX.  I know that I need to find a good agent, screen for a trustworthy PM, find a lender, etc., but I don't know which to start with. Please help :)

[Luciano A.]

Quote from @Karmen Wong:

Hello! I am a new member on BP, but I have been listening to the podcast for awhile now. Looking to find a mentor.  I live in Walnut Creek, CA, but is looking to invest in something in Houston, TX.  I know that I need to find a good agent, screen for a trustworthy PM, find a lender, etc., but I don't know which to start with. Please help :)

 Hello Karmen,

I was once upon a time a Californian lol. I live in Houston and have been investing here since 2006. I would say you should come out and spend a weekend so that you can see the different areas and meet with different realtors. Whatever you do stay away from flood zones as the insurance for that property can eat up a lot of your cashflow. Also stay away from condos, and watch out about HOA dues. One thing many out of state investors dont realize how the property tax can raise based on what you paid for it thus when crunching numbers update what the new property tax will become based on the purchase price. Right now not many great deals unless you are do short term rental but be patient and dont feel like you will not find a deal. Use HAR.com to help look at local listings.

Best of luck

Luciano