All Forum Posts by: Jorge Quintero

Hello, BP! I am currently saving up for my first property and my goal is to have my first rental property in Houston, TX by the end of 2018! I am starting to become a lot more familiar with REI but one thing I’m confused about is, what might be the best way to start investing for someone with no experience and my age (22 yrs old)? Some background on my finances: - I make about 48k a year after taxes - I don’t have any credit card debt. - Only about $5k in student debt - I am saving $1.5-2k a month with about $2.5k saved up currently - I have about $1.2k in expenses each month I have big goals and want to achieve financial freedom (making about 1.5-2x my current monthly income) by Jan 1, 2023. I’m planning on starting with small multi family properties or SFRs next year and maybe moving into commercial real estate later on. So back to my question, for my situation, would it be better to get a small multi family property and house hack it? Or are private/HML investors willing to take gambles on new investors with no experience? I have been able to successfully build relationships with other people in real estate thus far, but am wary whether people are generally trustful of new investors.

Hello, BP! My name is Jorge Quintero. I am 22 years old, recently graduated electrical engineer. However, about a month ago a friend spoke to me about real estate investing and it was at that point that I realized my many goals and dreams in life could be achieved by becoming a full time RE investor. I now have my head in tons of books, listening to podcasts, and connecting with people in the industry. I have been in Houston all my life and have become pretty familiar with many areas in Houston. I’m thinking of starting with single family homes/small multi family properties and am also looking at the possibility of trailer parks. I have tons of ideas, lots of drive, and can’t wait to channel this passion into results and passive income!:) If you’re in Houston, I’d love to connect with you and bounce off ideas and resources. Thank you for welcoming me, BP!

Hello, all! I'm new to REI and I've been continuing my education everyday for a couple of weeks. The more I learn about REI, the more excited and passionate I get about acquiring my first rental property in Houston! I want to start looking at deals and making offers, but before I can do that, I have a couple of questions that will greatly help me determine if something is a good deal or not.

1. As I’m searching for deals, what tools can I use to find out what neighborhoods certain properties are in? I use Google Maps but it doesn't show me all of them.

2. Once I've identified a property -- for my purposes one that is distressed -- what tools can I use to evaluate what the price of similar properties are in the area, so I know about how much it's worth after rehab?

3. What's the typical cash flow, CoCROI/ROI you want to aim for for Houston properties? I plan on investing in 2-3 bedroom single family homes or small multifamily properties in B-C class neighborhoods, so any insight into the specific numbers for these kind of properties would be greatly appreciated.

Thanks in advance for your answers.

@Camilo Rey that's some great info about the occupancy rate! 

@Victoria Weiss I've definitely noticed the same areas just north of 610. Are you having luck finding deals? I feel like the properties have appreciated a great amount, and the houses are constantly being bought by non-investors who want the convenience of being near the loop. Also, many houses are being rebuilt and are pretty new. 

@Tim Johnson I had no idea about the radio station! I've been listening to podcasts (like the Bigger Pockets one) but never thought Houston would have one. Several people have recommended me to check out the JET Lending events and I plan to attend the next one, so I will definitely say hi!

@Account Closed does this angel investor network exist in Houston area REIAs or other RENCs? 

Hello, Bigger Pockets Forum! 

I am currently an engineer working in Houston that is 22 years old and looking to slowly make the transition from full-time engineer to full-time real estate investor. I want to invest locally in buy and hold rental real estate, where my goal is to achieve financial freedom (making passive income that exceeds 1.5x - 2x my current full time monthly salary) by the time I am 30. I want to start investing in single family homes or small multifamily properties and I have set a goal to buy my first property by the end of 2018!

Since I'm new to Bigger Pockets, and new to real estate, I am learning as much as I can about rental properties and the different avenues I can use to find and close deals. However, I still have a lot to learn and not many connections in the industry. As such I have a couple of questions about the Houston market:

1) With the constant construction, the recent hurricane Harvey destruction, and the influx of people trying to move into the city, what does the rental market look like in Houston?

2) Is the market too competitive for new investors in Houston? Are prices still reasonable enough that a young investor like myself with little capital can get started buying properties soon?

3)What resources exist locally that would prove very beneficial to my real estate journey? Especially since I'm still learning and trying to connect with people in the industry.

Thanks in advance for your help and advice, everyone!