All Forum Posts by: JoJo Tucker

@Scott Sutherland Thank you for the response! I was wanting to do something very similar in Northern California. Do you have someone managing your Airbnb (booking, turns, service)?

@Becky Kromminga  

@Brian Foster

Thank you for the responses! The video attachment stated the foundation piers and installation costed around $5200. Is that a comparable cost of what one may expect in Houston?

@Cameron Tope Thanks for the reply. I am new to the RE investing world, but my energy has been primarily focused in Houston for potential buy-and-holds. 

Hello BP Community,

I am finishing up the book, Long-Distance Real Estate Investing, by David Greene and he speaks about the biggest house expenses that pertain to specific geographical areas (frozen pipes that burst in cold areas, roof wear-and-tear from rain in Florida, etc.). I wanted to know what kind of big-ticket expenses realtors, investors, property managers, and residents have experienced in Houston. I spoke with a Houston realtor recently and she said that the life expectancy for a roof in Houston is much less than average. 

What are other big ticket house expenses that are frequent in Houston?

Thank you!

@Mike McCarthy Thanks for the insight and advice, Mike. I'm happy to hear you are finding success with BRRRRs!

Hi @Cody M., I live in Northern California and knew I wanted to invest somewhere in the West. I began researching various demographics such as population growth, employment rates, job growth statistics, renter-to-owner ratios, etc. I really wanted to find a place that was economically diverse and had historically shown market stability.

My search led me to Denver, Phoenix, Austin, and Houston. Houston's average listing price for houses that fit my criteria was a little more in my ballpark. Houston repeatedly showed favorable statistics, with the only major concern being that many areas are susceptible to flooding. 

JoJo

Hi Grace,

I am new to RE investing too. I think creating an account on BiggerPockets is a great start. I would read posts, ask questions, and network as much as possible on here. I think you will find that majority of the people on here are more than willing to help and very friendly.

I would also suggest reading books on RE Investing. I have read or intend to read the following:

-Long-Distance Real Estate Investing by David Greene

-Buy, Rehab, Rent, Refinance, Repeat by David Greene

-The Millionaire Real Estate Investor by Gary Keller

-Commercial Mortgages 101 by Michael Reinhard

-Rich Dad, Poor Dad by Robert Kiyosaki

Hope this helps.

@Jake S. Thank you for the encouraging response! 

Hello BP Community,

What was your strategy for the first rental property you purchased? I plan on purchasing my first out-of-state rental investment by the end of the year in Houston, TX. I would firmly say my criteria is geared towards a more safe investment that may not yield as much profits (newer properties in need of moderate cosmetic upgrades), but will hopefully be one that does not come with many expensive surprises. 

However, I am a little concerned that I will not be optimizing my savings. As previously stated, I do plan on undertaking a mild renovation (Paint, flooring, etc.) in which I can force a little appreciation, but am I leaving a lot of money on the table because I do not want to swing-and-miss on my first deal?

What was your initial strategy? What were the results and would you do anything differently?

Thank you!

I want to bet on myself. I had a well-paying 9-5 job, but outgrew it quick. I understood that my trajectory as an individual would out-pace what that job had to offer. I am motivated by the notion that with RE investing I will receive what I put in. That does not always apply to a regular, salaried job. 

In the past I had been so afraid of failure that I pursued things that were too comfortable. I learned pretty quick that complacency should be what scares me the most.