All Forum Posts by: Brian Foster

I've had really good results using htownrpm.com

Btw did you realize that you will probably save enough in your insurance premium when you move away to pay for professional property management? You insurance premium will go down because you will need a different (less expensive) type of insurance as an investor than you do as an owner occupant. 

Greater Houston Partnership shows job growth in Houston for the last 3 years despite all the Oil & Gas jobs being shed from the market. How does that happen? The Houston (and Texas) economy has been diversifying for the last 25 years after the State Government made the decision back in the  90's. It is not an accident, it was very deliberate and it worked. 

We don't just have a big medical center in Houston, we have the World's largest Medical Center in Houston. The port of Houston is one of the fastest growing in our country (and the world) because of the Panama canal expansion. 

And if you caught the headline this week, Exxon Mobil just announced another $20B in expansion along the Gulf coast. Jobs, Jobs, Jobs

Low oil prices are bad for Exploration and Production but good for the other side of the O&G business like refining, petrochemical production, and plastics. The companies that are fully integrated (like EM) are poised to, and are, taking great advantage of these low prices to grow their business and invest in infrastructure throughout the market. Creating jobs...

Our economic expansion has been due to lower taxes that attracted diverse industries and created job growth. And people keep moving here to fill the jobs and there are simply not enough single family homes to meet the demand. We have abundant, cheap land not found in other big cites and metropolitan areas.

And although we are really bad at Mass and Rapid Transit (no passenger trains or subways) we are really good at building roads and highways that keep everyone moving and the area expanding. The opening of the Grand Parkway (the new outer loop) is a game changer that keeps feeding the growth engine. Look at all the commercial and residential growth popping up along the new road. You can see it with your own eyes.

Brookings institute recently showed Houston's economic growth was 2nd in the Nation (only San Jose was greater) and when you combine that with our low cost of living (we rank 6th from the bottom of major cities in the US) you can see why so many people are moving here year after year.

This isn't my opinion, it's well documented and it only takes  a quick google search to learn all this.

I have talked to and worked with several wholesalers in Houston. The vast majority of your deals will come from your follow up after being rejected and turned away initially. 80% or more of your deals will be with people who you contact more than once. You need to have a bulletproof system to follow up with sellers and you need to be persistent and patient. 

Love the naysayers. Been here since 1990. You should have seen the place then. Entire streets with nothing but foreclosures on them. We are never going back there. Any idea why TX and Houston did so well in the last downturn? Diversity. We have done nothing but diversify this economy and population for the last 25 years. Made huge tax incentives for industries to move in here and create jobs.

And then there is O&G. We just went through (I think we hit bottom, and have made the turn) the worst downturn in my lifetime (adjusted for inflation) and now look what just happened. Exxon Mobil just announced another $20B in spending for the Gulf Coast!

Jobs, Jobs, Jobs!

Worst O&G in a lifetime and Houston is still adding jobs for the last 3 years. Check the Greater Houston Partnership if you don't believe me.

Invest in TX and invest in Houston.

Look for a PM co that can manage and service your property. Your earlier message about 8-12% is spot on and you can get excellent professional property management for that. You want a company that has full time maintenance dept, will do inspections, and they should also offer you online portal and reports. Do as little to no paper as possible. Message me and i can help you with what specific questions you need to ask. 

Check out the Wealth Club

Pretty much agree with Cameron. If you do go with bandit signs use google voice or something similar (don't put your primary phone on the sign) and that will help you avoid getting caught by the sign police. If you have someone put them out for you then utilize this

http://www.simplecrew.com/

very effective

No better time than now. Houston is poised to grow (even faster) now that O&G sector coming back and hiring. Check this out

http://www.bizjournals.com/houston/news/2017/01/06...

Dan, I work with Cali investors every day. Welcome.

Brian

There are some excellent TK rentals in ABQ. It is a very stable market with growth potential.