Houston Area Buy and Hold SFH

[Mark Zermeno]

Wondering who all in Houston, TX is currently looking for their first rental property investment? I have been actively searching for the past month with a RE agent but have been outbid on 4 homes thus far. I am bidding on home that are on the MLS, both turnkey and some needing rehab.

Any advice on finding better deals off market? MY RE agent runs off market searches but I havent seen much. We also started looking at foreclosed homes as well.

I am not in a rush to seal my first deal but finding more deals and putting in offers would help my odds.

Look forward to any advice! 

[Sandy Sawyer]

Hey Mark, I'm assuming you're a cash buyer. The best deals are off-market, not on the MLS. Most real estate in Texas trades off the MLS. Go join a couple of real estate investment clubs. Get your email on the buyer lists of as many wholesalers as you can. Get a fresh list of owner-occupied pre-foreclosures in area of interest and go knock on some doors. Go to the tax auction and make connections there, just watch & learn while you're there, it's fascinating! Don't use an agent to get your deal, maybe pay one to help with paperwork only.. unless you are buying a listed property. When the other side has agent representation, it's illegal for the agent to run both sides of the table. So they'll get someone else on their team to represent you. That's like suing somebody but letting them pick your attorney. Otherwise, the time to use an agent and the MLS really is to get top dollar on the retail market when you want to sell. Hope this helps.