All Forum Posts by: Javier Renteria

Brian, I am not sure if you plans have changed but League City is a good location.  Realty as a whole is growing in Houston but it is especially true in League City.  LC is growing and is doing so very quickly.  The school district, CCISD, is one of the better school district in Houston.   And the housing market can be anywhere from the low 100ks to the 500ks.  It all depends on location.  Another good location, hot spot, is Friendswood.  But a little heads up, the cost of living, property taxes, is high around here.  You are looking at 2.6% to 3.1%.  And since LC is in Galveston County and so is Friendwood, you will need Texas Wind and Hail insurance policy.  In LC and Friendswood you are looking at ~$1300 to $2400 a year depending on the cost of your property.   And you will also need to look at if the property is in a flood plain.  Most of the new communities are building up the land so that isn't a problem but if you move into an older part of LC then you will have to look into it.  People are very interested in moving/renting in LC but if not in an apartment complex it will be very expensive for them or you, again depending on where exactly you move.  If you need any help feek free to PM me.

Jonathan sound like an interesting situation.  My experience is limited but if you are really interested in this property or think it can get you a good deal (I think it could since the previous owner already made money on it and if he's not in a tough financial place he may be willing to give you a good deal since he already made money on it) then you may have to get an attorney involved to make sure no one gets screwed.  And the previous own may also not want to get in a bind so an attorney may be the only way they may be confident enough to make another deal.

Good luck.

Steve, one way for you to find extra cash is to use a HELOC. That is a home equity line of credit. Since you own your home out right, you can use your current home as collateral. You should be able to take out as much as your home is worth, although I doubt that is recommended since this will limit your total available for your future additional property. Be smart and only take what you need.

Hello all,

Just wanted to introduce myself. My name is Javier. I live in the Houston Area and I recently have decided to start in REI. I hesitatingly acknowledge myself as a noob. I have done some research into REI and even inherited an investment property a few years ago, which I ended up selling since I moved to a new state for to a new job. My current and full time job is as an Electrical Engineer. My internship in engineering was as a Consultant. I never understood that title, it's quite in-descriptive. I "designed" the electrical lay out and power calculation of residential and commercial properties. That engineering internship quickly turned into a manual labor (construction) summer job for my boss after I graduated. I have always been mechanically inclined so working with my hands was never an issue and I enjoyed it and learned quite a bit. I did quite a bit of electrical work, very minor plumbing and some carpentry. The house was gutted so we were working from scratch. Anyway I did truly enjoy my experience that summer and I proved that I am more than capable of doing this as a full time gig. Although I did not want to waste all those years in school and money spent so I started working and got paid as what my degree entitled me too. Seven years later and although I enjoy the work, I am tired of having to do as I'm told. So I am venturing into the world of real estate investment, part-time, until I can prove that I can do this full time for myself and my family.