All Forum Posts by: Caleb Hood

Hi all,

My wife and I will be moving to Houston, TX shortly and are looking to purchase a distressed small multifamily (2-4 units) using a 203k loan, renovate completely, and live in 1 unit while renting out the other 1-3 units. I'm getting started on getting to know our target markets. We need to be within a 10-minute commute of the medical center, so for us our target market is Third Ward/South Central/Macgregor/Greater OST/South Union.

Could someone who knows these local markets give some insight into price of renovation per square foot? I'm trying to get better at being able to "run my numbers" as I look at properties.

Thank you in advance,

Caleb

Hi all,

My wife and I will be moving to Houston, TX shortly and are looking to purchase a distressed small multifamily (2-4 units) using a 203k loan, renovate completely, and live in 1 unit while renting out the other 1-3 units. I'm getting started on getting to know our target markets. We need to be within a 10-minute commute of the medical center, so for us our target market is Third Ward/South Central/Macgregor/Greater OST/South Union.

Could someone who knows these local markets give some insight into price of renovation per square foot? I'm trying to get better at being able to "run my numbers" as I look at properties.

Thank you in advance,

Caleb

Thanks Carla! I've sent you a message

Thanks Matthew! I've sent you a message

Hello,
Moving to Houston over the next few months and looking to house hack. Already pre-approved for $550k for an FHA 203k loan. Please recommend best areas in Houston that meet the following:

- 10-minute or less commute to Baylor Medical Center

- Areas with distressed 2-4 unit properties (intend to use an FHA 203k loan to live in 1 unit and rent out the other 2-3 units) that I could purchase and renovate for less than $550k at most with good ARV upside

What I'm seeing online is Third Ward for the most part? True? Opinions? Connections to the local market?

Hi all,

Been spending the last year studying Bigger Pockets and other resources, now will be moving to Houston, TX shortly and looking to do my first house hack! Looking for realtors particularly experienced with Houston house hackers who would be excited to work together to find a property. More about what I'm looking for:

- I'm pre-approved for an FHA 203k loan of ~$550k total cost (purchase price + repairs)

- Looking for a 2-4 unit property within 10-minute commute of Baylor Medical Center where I will be working

- Looking to completely renovate the building and move into 1 unit (and rent out the other 1-3 units) by July 1st, 2024 (in other words buy right now, but have renovations complete and move-in ready by July 1st, 2024).

- Would like to pay no more than 70% of ARV (purchase price + renovations)

If you know realtors who have experience in this exact area and would be excited to work together please let me know!