All Forum Posts by: Brian Foster

https://kinder.rice.edu/kinder-houston-area-survey

Great study by Rice University. Houston centric  but still worth considering IMHO.

Why do people move? #1 reason is a job

Why do people pick a certain area to live? #1 reason is commute time #2 is area amenities [think shopping] #3 reason: Clean neighborhood

Schools didn't make  the top 3 

www.htownrpm.com

Condos can be OK, just realize that in a downturn [like what we saw in 2008] they lose their value faster and deeper than SFH.

https://texasturnkeyproperties.com/id-do-a-deal-in...

Think growth. Economic, job, population. Think what fuels that? To obsess about property taxes in a place like Texas is to miss the point IMHO. To have a successful rental property/portfolio you need? Renters! 

What do renters need to be good tenants? Jobs! 

Job growth in TX is not a new phenomenon,  it's been happening for the last 25 years. Texas, and specifically Houston have diversified and modernized their economy like no other place in the country.

In my opinion, there is no place in the country that compares with Texas for a business climate that is friendly to real estate investors. And there is no place in Texas that combines all the elements better than Houston. Critical Mass [4th largest metroplex]  and a business climate that allows for quick and efficient evictions and nothing that looks like rent control. With a good competent Property Management company at your side,  it is difficult to find a better place than Houston, TX to start, or build, your portfolio. 

@Jay Hinrichs is right, it's all about the PM, the best property without a good management company is going to let you down. #2 is the Market

https://texasturnkeyproperties.com/id-do-a-deal-in-houston-every-day-if-i-could/ 

https://texasturnkeyproperties.com/id-do-a-deal-in-houston-every-day-if-i-could/

www.htownrpm.com

Full service, can handle maintenance, and all aspects of your portfolio. Very reasonable priced, no monthly fees [they work off collected rent %] if you're not rented [vacant] they don't make any money.

@Tom Smith I like Ryan for insurance questions

https://www.facebook.com/Texas-Prime-Insurance-Age...

He has saved me a lot of $$s and answered a lot of questions. Very good with investment properties.

No financial affiliation at all

@Tom Smith good question about investing in Houston. The answer is that to NOT invest in Houston due to fear of flooding is probably a BIG mistake as there are some very simple precautions you can take to mitigate the risk extensively. The Houston economy is one of the biggest and fastest growing in the Nation/World so it is a great place to invest if you take the proper precautions.

Here is one: http://www.harriscountyfemt.org/

This is an interactive flood zone map. We use it when we do acquisitions of properties and lots. You can see exactly where any address is in Harris County in relation to flood zones. We don't buy in Flood zones [unless we get a deal we can't pass up] and cash flows even with flood insurance. 

A little about flood insurance: Protects you from rising VS falling water. Insurance in "100 year flood zone" is quite expensive, thousands per year. Insurance in "500 year flood zone" much less expensive [$400-$600 annual] on $150K property. Insurance out side of any flood zone is about the same as the 500 year zone.

Flood damage to property is expensive to repair without insurance and a decent rule of thumb is to budget $25/ft for repairing a home in a flooded area [but that can vary a lot depending on the damage] 

www.htownrpm.com Work off collected rent (<8%), no monthly fees, full service maintenance dept, on line portal, great ratings