New Member Introductions
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 10 years ago, 07/11/2014
(New to BP) Investor from Los Angeles (SFV) looking in HOUSTON- What Areas?
My Name is John and my first investment was in 2009. My portfolio currently includes on home in Reseda (San Fernando Valley) and one home in Houston (off 290, 77092). I own both homes with a partner and we are 50% partner. I am a conservative real estate investor.
Little info about me : I work full time as an analyst in downtown Los Angeles. I have my bachelors in marketing and MBA in finance. I love real estate and have been listening to podcast and reading books for awhile now. I have been listening to Brandon and Josh sultry voice for quite some time now and decided to join BP. I do not make a lot of money, way under 6 figures and living in Los Angeles takes a toll on you. I invest in Real Estate to one day have financial freedom as Ramsey would say.
I am looking in the Houston area for my next investment. I love cash flow and I hold my properties forever and ever. What areas is a good place to invest in Houston? I have 30K liquid, I would want that to be down payment, closing and rehab (5k). I can probably muster another 5K if needed. I am looking to spend in the 90 to 140K homes and want at least 1% rule. However, my Los Angeles home does not follow that rule and it giving me wonderful cash flow. I am looking for good school districts and does not have to the best but good. Appreciation would be nice, but cash flow is king. I have looked into old sugar land (Townwest area and etc) 77478 zip code, parts of Houston ( 77083) Fort bend School district and Katy near Cinco Ranch ( 77450) but not Cinco Ranch since it is too expensive. I heard North Katy is getting rough. What area would you suggest? Should I focus more on Northside or Southside? Exxon Mobile and all the companies expansion have made Spring and Woodlands house price rocket.
Pasadena, Pearland, Missouri City, Katy, Bellaire, Alief, Stafford, Cypress? Please be descriptive and not just say Cypress but what neighborhoods in Cypress.
I currently have a Property Management (PM) handling my home in Houston and he charges me 7%, other companies charge me 10%. If I go to north I would probably have to find a new PM since he is based in Sugarland. I would have to take that into consideration.
I do not know if I should post this question here or in General buy and sell but I would first try it here. Sorry for the long post, but I am not shy on numbers and information if you have questions I can provide more accurate #s.
Thank you,
John