Third & Fourth REI Property(Houston, Texas)

[V.G Jason]

Investment Info:
Both are 3br, 2.5ba house in Houston. House 1 is 1,400 sq ft. House 2 is 1,700 sq ft. These houses are separated by about 3 blocks.

House 1:
List Price: $327,000
Purchase Price: $307,000
Value Add Levels: Will upgrade kitchen appliances, water heater, landscaping and replace bedroom carpet with tile wood.
Financing: 40% down, 30-year DSCR.

House 2:
List Price: $345,000
Purchase Price: $331,000
Value Add Levels: Will upgrade kitchen appliances, water heater, landscaping and replace bedroom carpet with tile wood.
Financing: 40% down, 30-year DSCR.

This is one of the best zip codes in Houston, but it's in a gentrified area. You can't find land value cheaper than this in that area, I think at some point this area is going to completely changed. You have the Houston elite less than 3miles away and the Houston business area less than a mile away. You got older and younger millennials that completely invaded just the highway over the last 7-9 years. I intend to buy everyone of these in the area that pops up, up to a dozen.  House #1 tenants will remain the former homeowners. Have a different property management company for each property, let's see how that works.