Houston investor looking to buy first rental home

[Axel Norvell]

Hi all!

I'm a Houston local currently renting in the Heights area. I've come to a point where I have a sizable amount of savings and I'd like to get more involved in a more tangible investment (not purely stock market). Real estate is something I've always been excited to try, and now feels like the right time.

I've done a decent amount of reading and learning thus far, and I've settled that I'd like to start off by purchasing a duplex/triplex property that I can live in, and rent out the other units (essentially House Hacking).

If there are any investors, brokers or people involved in REI in the Houston area, I would love to meetup and grab a coffee (I'll buy).

I'm also not afraid to get my hands dirty, and am willing to help out with anything in exchange for knowledge. I can also paint, clean, build or fix pretty much anything cosmetically. Anything that can help me get involved with hands-on experience I'll donate my time.

I can also design and build websites, marketing materials etc (I'm a full-time professional designer and web-developer).

If you are in the Houston area and have an opportunity for me to learn and give you a helping hand, please reach out! I'll only preface that I work a full-time job from Mon - Fri, but I am typically available anytime during weekends, or early morning/later evenings during weekdays.

Looking forward to meeting and learning from you guys here in BiggerPockets community!

-Axel

[Mark Sewell]

I agree with @Brian Alfaro and in fact I would say that some of the deals I get from wholesalers are worse than some of those I find on the MLS.

Here is the thing with the MLS that newer buyers tend to forget -- the realtor isn't stupid, and they know there are a gazillion investors crawling around everywhere, many of whom are willing to overpay. And even in a normal market, they will add on what, 8-10% to the sales price just to leave room for negotiation.

So go spend a weekend making offers.  I am mean, seriously, go hard, make like 50-100 of them.  Not saying spam them or use some arbitrary formula (though I know a local guru that teaches exactly this) but just see if you can get a few of them to counter.   

If you aren't embarrassed about the offer you are submitting, then you are offering to pay too much.

If it doesn't work, then you have just put your name out to 50-100 local realtors that list the kind of properties you are looking for.  And this brings me to the excellent point that Vijai just made above -- probably the only cost effective way to get deal right now, in this market, is networking.  Do it here on B.P, go to meetups, talk to realtors, be relentless.  Somebody will get one, eventually, where the numbers are good but the timing is wrong for them, and they will want to hand it off to somebody that they like.  Be that person.