Bying a Potential investment property

[Tamer Almasri]

Hi everyone, I'll be moving to Houston Texas next year with the family and I'm looking to buy a SFH, renovate the property to add sweat equity before I rent it and move to the next one. So my questions are: 1_ what are the best areas to buy SFH in Houston that will give me a better ROI after I'm done.

2_ is there a first time home buyer program in Texas and if so what are the best local lenders in Houston.

3_ after I Refinance the first property and rent it, will I be able to get another loan to buy a second property and renovate it? .

This will be my first property as a permanent residence and then I'll end up renting it so I'll most likely do an FHA loan on it. And if you have any other tips please let me know 🙂. Thanks

[Lauren Cutchen]

@Tamer Almasri

If it's your first home, you can get an FHA loan to put as little as 3.5% down. Or even a conventional loan can go as low as 5% with some lenders.

Depending on what you do for work, there are some programs you can use for down payment assistance. There might be other programs, but not sure at this time. I can give you a contact for a lender to talk through the refinance questions to see what loan is a better fit for you.

As for where to buy in Houston - I definitely know several areas that could use a little work and are popular for remodels. Feel free to message me. Happy to help if I can.