Houston - Buy or Wait Until the Oil Crash Hits Housing Market...?

[Trevor Hall]

Hi all,

Just moved back to Houston from abroad and we're looking to purchase a personal home along with as many investment properties as we can.  The market here seems a bit overheated right now and we anticipate the oil price will impact housing prices over the next 18 months, so we've decided to purchase a "temporary" home to live in for 6-18 months until a good primary option pops up (currently in temp corp housing).  We would then turn the temp home into a rental, of course.  Focusing on SFRs in MPCs in SL and Missouri City (Sienna).  

Any thoughts on the pricing trend (impact of oil price), "temporary" strategy or introductions from other folks in Houston would be much appreciated.

Many thanks,

Trevor

[Naeem Kapasi]

Honestly, I don't read any market analysis or market data (I probably should, but have not been focusing on that). What I do instead is to analyze properties every week, and see if the properties I analyze make sense or not in terms of cashflow. I think, in the long run (20+ years), it does not matter if you bought the porperty for $20 000 more or not - as long as it cashflows. So I am not that worried about the timing as long as it cashflows, people might disagree to my thoughts (if you do, let me know your thoughts) because in 20+ years, looking back, +/- 20 000 will not make a big difference.