Quote from @V.G Jason:
Quote from @Cody L.:
Quote from @V.G Jason:
Welcome to reality, 3rd ward Houston is not investable. Any "ward" in Houston should get some questions going, but majority of Houston based agents will push this ad nauseum especially the one's on here and have been the better part of the last 2 years. 3rd ward for MTRs, STRs, and travel nurses and 5th ward for fix & flips; but only an idiot would buy a 5th ward property without doing their diligence. They target OOS that have no idea what the 5th ward is really like, but on a map see it's proximity to downtown and think it's up next.
Think you should focus on a solid SFH for your family if you have some money you can put down, and worry about investing when you are in a position of strength. Spring Branch, meyerland are solid areas.
When I hear "near med center", I don't jump to "3rd ward". I have some nice properties near med center (my highest NOI property, on Brompton, is near med center. As are several of mine in the 'good' parts of 77004 (i.e. west of 288). Properties on Binz, Jackson, Wentworth, etc.)
THat said, I also have properties in 3rd ward (Truxillo), 5th ward (Wipprecht). Even Montrose is one of the 'wards' depending on how strict you use the names (4th ward I think?)
Personally I'd suggest AGAINST areas like Spring Branch, Meyerland, etc. I'd stick to midtown, montrose, museum district, etc.
Third ward is generally UH and the med center. I know where you're properties are, at least that Brompton one, that's just at the borderline of south West U/Rice and into 3rd ward. You're solid, but go any more east or south or both and I'd avoid. I'm not touching Truxillo or the 5th ward ones, each to their own. I'm invested primarily in the heights & airline heights(e&w of 45), a little in midtown, little in acres homes, and a little in the camp logan area. Acres home stinks, but I'll swallow it till 2035 and see what shakes.
Spring Branch and Meyerland are where a lot of younger millennials are moving to for family formation, so the schools will get better. Memorial is already the cream of the crop public high school. I know a ton, not a few but ton, moving to these two areas that are trying to start families and raise them in these two areas. And builders are slowly catching up with some new devs in these areas.
If we are talking about better areas in general-- I'd say Camp logan, heights, piney point, West U, river oaks, and parts of Bellaire are the best. Then montrose and the museum district. But all these areas are much tougher to afford.
Interesting commentary. Thank you. I'm curious how you know which Brompton property I have (if we've met, or talked outside of this site, I apologize for not recalling)
I, like you, don't love the areas you're talking about where some of my properties are located. I have a ton in south east inner loop. However, they also make a ton as I paid $20k-$30k/door. So if it's buy a truxillo for $30k/door, and rent for $800, or pay $100k/door in Montrose and rent for $1000, it's an easy call. In fact, there is a building on Truxillo across the street from my current Truxillo property. I used to own that one as well but sold it. I tried to buy it back recently but they wanted too much. They got foreclosed rather than work something out.
All of that said, as I've grown, I've started to stay away from bad areas. I just don't need the cash flow. Or rather, it's not as important. Now I just want nicer properties in nicer areas even if the cap isn't as high. But that's a luxury to be able to decide that's what you want as I couldn't have done that without the 'bad area' properties helping to get me to this spot.
