All Forum Posts by: Brian Pownall

2-4 here, agree no point in wasting other's time if you are way off to just check a proverbial box.

@Justin Goodin you are right about several existing in almost every city. I think you have to come up with a unique angle or make it more of a focus on networking and building relationships, rather than having a "better monthly topic".

@Mike Zaven typically focused on 75+ unit, 1970s or newer, value add. Been tough market is so hot...saw some 1960s product priced over 200k a door recently.

@Matthew Rolf nailed it. Bit older homes but beautiful neighborhoods and yards. Great schools and community.

Welcome Harrison, the city has a lot to offer! Any particular submarket you're focused in?

Maria, if you'd like to talk to someone else in Houston who is newer to REI and navigated this, please reach out. Happy to talk!

Justin, nailed the ideal steps. Sometimes can't tour given time constraints, but definitely will if making it to best and final. I'd also add submarket / comp analysis as part or right after the UW step. If you live there drive by comps or spend time studying them at the least.

The projected returns sound good but that is all they are, projections. On any deal it is critical to understand the sponsors track record, business plan, and the underlying assumptions on the purchase. At that point you can make an educated decision on the risk. 

Welcome to Houston, confident with your passion you will do well here. 

Keep telling myself the money underwriting aggressively will regret it..."winning a deal' is not the same as winning long term