All Forum Posts by: Raj S.

Long Island is a tough market to make money. Houses are way overpriced, property taxes are ridiculous, and the landlord/tenant laws are against you. Did you ever consider investing out of state? I live in Queens and I do all my investing in Nevada and Indiana.

@Stephen NicholsonI agree! I'll be living in the north east, which is why I was hoping to invest around there.

@Neda NavidniaThanks for the reply.  I'll take a look at Spring as well.

@Rich Nickel I live in New York and I'm currently invested in Las Vegas and Indianapolis. I own a few SFR's in Las Vegas, and more recently I started buying in Indianapolis. So far this year in Indiana I've bought one SFR, and one duplex. I stopped buying in Las Vegas a couple years ago because the prices have moved up so much that the market doesn't provide much cash flow anymore. In Indianapolis I'm still finding deals and I plan to keep buying there. Living in New York I never had the opportunity to invest where I live. I'm looking forward to being able to live and invest in Houston

@Fred HellerYour response was helpful.  You seem to be knowledgeable on the area.  I'll send you a PM to discuss in more detail

@Rich NickelI haven't moved to Houston yet.  I'm still in NY for another 3-4 months.  I figured once I get to Houston I would find some local meetings to go to.  I guess that's a good way to network and possibly find agents to work with.  Although I'm so used to investing out of state that I thought I could start making connections before I got down there.

I currently live in New York and I'm invested in SFR's and small Multi-Family (2-4 units) in Las Vegas and Indianapolis. I'm planning to move to Houston, TX in the next 3-4 months and I figured I could finally start investing close to home once I'm there. I'm still learning about the Houston market and the different areas. I'm looking to start investing in SFR's in the surrounding suburbs of Houston. I was mainly looking at the Northeastern suburbs such as Humble, Atascocita, etc since I'll be living in that area. I was also thinking about investing in some inner loop Multifamily properties. I've been having a hard time finding investor friendly agents who are knowledgeable on either of these areas. It seems like Houston is such a big place that you have to really narrow down your criteria when searching for agents. If any Houston area investors know of a good investor friendly agent they could recommend, or if you have any advice for me on the market in general, I'd really appreciate it. Thank you

@David Hines If the property is owned by an LLC you'll have to get commercial business insurance. Its usually a bit more expensive than the standard homeowner's policy.

I'd be careful transferring the property to an LLC. In the past I never heard of a lender having an issue, but lately I've been hearing that some lenders are actually using the due on sale clause to force you to transfer it back. So make sure the lender approves of the transfer before you do it. Unless you have a really significant net worth, its probably more convenient and cost effective to just get a good umbrella policy. If you're really set on transferring the property to an LLC, there are ways to get around the due on sale clause by using a trust to exploit the loophole for estate planning. I would talk to an attorney before you do anything.

@Ivan Lai I'm from New York and am currently invested in Nevada and Indiana. I'm planning to move to North Houston as well. If you don't mind me asking, what part of Houston did you invest in? Did you buy SFR's or Multi's? I've heard Memphis is a good market for buy and hold as well.

@Shane Setzer  @David Krulac  @Shawn Holsapple  @Jon Holdman  @Jeff Rabinowitz  @Elizabeth Colegrove  @Joshua D. 

Thanks for all the responses.  I appreciate it.  Huge help!