All Forum Posts by: Brian Burke

@James Wise

Thanks James, this is helpful. 

@Andrew Johnson- Thanks. This makes sense and is a lot of help. 

Along the lines of David Greene’s advice I’ve been putting together what I hope to be a “Big 4” team and I’ve found as I ask for input on potential single family deals from a prospective property manager that the manager is a licensed real estate agent and interested in representing me as the buyer’s broker. She apparently splits time as manager/broker about 60/40. 

I could see how knowledge of the market as a property manager could be a good skill in negotiating an acquisition but I’m a little hesitant to have a jack of all trades wear both hats and try to do both well. 

Is this at all common in single family investing outside the turnkey business model? Is my concern much ado about nothing?

@Account Closed

This is excellent information, thanks. One area in Houston I’ve been researching that appears to have good price to rent ratios is along the 10 Freeway in the energy corridor, not yet to Katy, south of Cypress. I think it’s Bear Creek? Cy-Fair school district, prices per sq. foot around $80, rent per foot around $0.80 rough range. 

@Elizabeth A Johnson I’m probably initially in the market for SFRs, and from what I’ve seen so far the City of Houston itself is a case of extremes in term of prices. I’m sure that’s entirely true, just what I’ve found so far. I’m certainly open to Houston though I’m not sure a major down to the studs rehab is something I want to do out of state on my first deal. 

The things which attracted me to Houston are the employment centers with all of the Fortune 500 companies based here, Texas Medical Center, and the port. As such I’ve been scattered all over various suburbs where I see employment centers and good schools, such as Katy, Sugar Land, Cypress, Pearland (I meant Pearland), and Friendswood. I’ve been trying to zero in on where I might get closest (if not actually hitting) that 1% rent price rule, and where the supply of SFRs isn’t such that it’ll take 120 days to lease. 

@Fred Heller I was thinking in the suburban markets that I would more likely be purchasing SFRs for families as opposed to millenials living closer to the city. 

I’m looking to purchase 4-6 single family homes (or a small multi family) in Houston, probably for mid to long term holds. As I am from out of state (Orange County, CA) and have been studying the overall market, I’m interested if anyone has opinions on good submarkets for renters. I’ve been looking in the energy corridor to the west, Spring near Exxon, and to the south in good school districts and near the Medical Center.

My main concerns are buying where there is saturated supply (I’ve steered clear of Houston proper) and buying somewhere in which people generally buy homes that lacks a good renter pool. I’d say I’m looking for properties all along the “B” class spectrum that will attract some middle class families and perhaps white collar millenials who haven’t saved enough to buy.

Any thoughts are appreciated. Thanks. 

I’m looking to purchase 4-6 single family homes (or a small multi family) in Houston, probably for mid to long term holds. As I am from out of state (Orange County, CA) and have been studying the overall market, I’m interested if anyone has opinions on good submarkets for renters. I’ve been looking in the energy corridor to the west, Spring near Exxon, and to the south in good school districts and near the Medical Center. 

My main concerns are buying where there is saturated supply (I’ve steered clear of Houston proper) and buying somewhere in which people generally buy homes that lacks a good renter pool. I’d say I’m looking for properties all along the “B” class spectrum that will attract some middle class families  and perhaps white collar millenials who haven’t saved enough to buy. 

Any thoughts are appreciated. Thanks. 

Brian