All Forum Posts by: Lyall Storandt

Orion Longman Hey Orion, I'm biased towards Houston, but would recommend any of the 3/4 major markets in the "Texaplex": Houston, San Antonio, Austin, and Dallas. The cost of living here is quite a bit cheaper than the coasts and the growth in real estate and elsewhere is on fire right now.

Sean Brennan Hey Sean, Q1 was decent, but things are starting to pick up in our market and I expect Q2 to be even stronger.

Through my firm, I helped my investors purchase eight properties on the sales side and bought three properties on the acquisitions side.

Q2 is off to a good start though as I sold a property this morning and we'll be closing on my personal residence in a few weeks. Should be a fun summer here in Houston!

Shanequa J. Hey Shanequa, let me be the first to welcome your move to Houston! Now is a great time to be buying investment property in the area.

To be 100% honest with you, to the best of my knowledge, there aren't a ton of "great" areas in Houston that feature duplexes. Depending on what your other criteria for living area (and budget) is, you might consider a single-family home with a garage apartment, which are a little more common in the nicer areas. That said, the quality of life in Houston proper is very much neighborhood (and even block) specific, whereas some of the outer-lying suburbs such as Spring, Cypress, Katy, Sugar Land, parts of Missouri City, and Pearland all tend to have better reputations overall. There are duplexes in all of these areas, but I wouldn't expect much of a discount since they're all in high demand by investors.

I just did a quick MLS search for multi-family under $130k and there are plenty available, but almost none in the areas I listed above. Again, it just depends on where you want to live, etc.

Arun Balakrishnan Hey Arun, welcome to BP! Glad to see another Houstonian here on the site.

My personal recommendation would be to look into distressed single-family homes with a two-pronged approach: flips to build capital and rentals to build equity and cash flow. In other words, you would be using the income from flips to finance your rental properties.

To do this effectively, you will need to leverage your purchasing power with financing.

The Houston housing market is on fire right now with months of inventory, sales prices, and rental rates all at or approaching all-time highs. (No exaggeration whatsoever)

I will shoot you a PM with details on how I can help.

Greetings!

We have two new properties available in Katy, TX (West Houston):

Katy #1:

Square Footage: 1977
Bedrooms: 4
Bathrooms: 2
Garage: 0 (Needs to be re-converted)
Year Built: 1978

Price: $78.5k
Rehab: $16k
ARV: $115k
Rents: $1300 / mo.

Katy #2:

Square Footage: 1701
Bedrooms: 3
Bathrooms: 2
Garage: 2
Year Built: 1976

Price: $83k
Rehab: $12k
ARV: $115k
Rents: $1300 / mo.

Please contact me directly if you have an interest in either or both: 405-361-1341.

Yves Stewart Hey Yves, welcome to BP and Houston as well! There are actually quite a few active members local to the Houston area so be sure to let us know if you ever need anything.

Ben Bakhshi Hey Ben, when I said owner-financing I was meaning that you as the investor would be able to purchase, rehab, and then owner-finance this property to an occupant. Not that we're offering this property for sale to an investor using owner-financing.

If you'll shoot me a PM with your e-mail address, I will send you more information regarding the property.

Greetings!

We have a new property available in Texas City (south of Houston).

Square Footage: 1557
Bedrooms: 3
Bathrooms: 1
Garage: 1
Year Built: 1970

Price: $46.5k
Rehab: $10k
ARV: $75k
Rents: $1,000+ / Month

Give me a call directly at 405-361-1341 if you have any questions or would like to see this property today!

- Lyall

The Houston housing market remained on fire in February! Now is a great time to buy if you're looking for your next flip as most seller's are getting multiple offers very shortly after listing. Give me a shout if you're in the market or need help getting started.

http://www.har.com/mls/dispPressRelease.cfm?MONTH=03&YEAR=13

Greetings!

We have a new property available in the Historic Heights District of Houston, TX. This property will work well for an investor seeking a flip or a builder / developer.

Consider the following:

Option 1: Rehab + Addition

Price: 339K
Rehab: 170K
ARV: 690K

Option 2: New construction

Price: 339K
Build out: 400-500K
Value: 950K-1.2 million

Give me a call directly if you have any interest in this property: 405-361-1341.