Mcrary meadows in Richmond (lennar)

[Karthik Arun]

How is the market around Houston for investment purchase ?

My realtor suggested a single family in 77406 (Lennar mcrary meadows in Richmond - new construction) for $375k and was saying it has great appreciation potential and easily rents for $2k. Wanted to hear from fellow investors and locals who are aware of this location

[Vijaianand Thirunageswaram]

Wow $375k for 2k rental. Are you kidding me? How the numbers going to work for you? How many sqft and how much you expect to appreciate?  

Many investors around US are just looking at ways to park their money in Houston market without realizing that market is already on top end. Houston and suburb don't appreciate like San Jose and suburb. It has gone up last year or so because of the over all market in a bizzare way but do not expect to appreciate like that forever. It might go up for few years because of low new inventory but real appreciate is going to be slow and depends on other factors. 

Try to make sure you are atleast break even and do not put money from pocket.