All Forum Posts by: Marcial Pimentel

@Chris Hopper So I can understand better, you mean that the rents I would have to charge would be too high if I wanted to cover all related costs with a 200k+ house? Please correct me if I'm wrong in that understanding, I'm not from a real estate background but have been trying to do my research.

Originally posted by @Mark Sewell:

If it is in Katy, then it is zoned to a good school.  People want to be in Katy ISD.  But that is already factored in to the price.  Some exceptions can be found in 77449 where Katy borders with CyFair ISD (where my kid goes, lol) but don't overlook that area - there are some good working class neighborhoods here and a few houses that will still cash flow.

I think right now it is less about Katy and more about buying right at the top of the market.  

Just don't go over the median price right now, stay close to the 1% rule if you can (hard to find, trust me) and just make sure you have some reserves to get through.  But if you are doing this as a house hack, then go for it!

BTW until I saw your post, Marcial, I had no idea about the Katy Asian town commercial center, UH Katy breaking ground, the future boardwalk.  So thanks for that.

My lender's company works with some builders and have new construction in that zip code, around Clay and Fry, that will give money towards closing costs and will pay 1st year homeowners insurance. 

I like the idea of saving money to have more buffer if I were to get it I just wasn't sure about prices ($222k - $229k) given the location. The plans are 3/2, 1.5k - 1.7k Sqft. If you don't mind, I'd like to message you about your thoughts on the location and maybe run numbers with you.

Originally posted by @Cody L.:

PERSONALLY, again, just personally, I have a HIGE bias to being “in town”. No way I’d go outside the 610 loop. Much less outside the beltway. I hate all those suburb areas. It seems houston has unlimited land if you try to keep going further out. 

I like the geographical barriers that the 610 gives to protect land value. Inner loop land keeps getting more and more dense. Creating more and more cool and unique places to live.  

Yeah. So while I have some stuff just outside the 610 loop (some ~120-160 units) they’re within a few miles and strong Hispanic submarket so I bent my rule a bit

I would enjoy to live in the loop, especially because I work at the Galleria right now. I think in my head a SFR in Katy would be "safer" because it's a good school district and I am betting on appreciation because of the growth in the area (betting being the key word here.)

My main constraints would be finding somewhere in the mid-to-low 200k's or less. I would be living in it as a primary residence and trying to get roomates as well. I was also looking at Airbnb threads in Houston but to do that legit, you'd need permits and pay special taxes which cut into the margins.

Is there anywhere inside 610 where you have the most amount of units in? Or any up and coming areas you might have an eye on? I would imagine places like the Heights and Montrose to be popular but not sure if there would be something suitable in my price range.

Originally posted by @Ethan G.:

My first deal was a single family house in Cinco Ranch and it is has been a 4-5% annuity for me with random headaches.  So not at all a good deal. 

Were you renting it out to a family at the time? And managing it yourself?

My current plan is to try and get a house zoned to a good school so that once I move on from it I can lease it out to a family. I think it's important to have an exit strategy or contingency, especially because it'll help with decisions on where and how much house to buy.

I have seen a lot of your posts on the forums, so thank you for your insight and the connection!

Dear Houston Real Estate forum members, I wanted to say hello and Thank You for all your information in your posts.

I just recently decided to take serious action earlier this month after having listened to BP since the beginning of the year and now a couple months into my big boy job. (The 90 Day challenge also being a huge motivation!)

I have been crawling through the forums and searching for posts about Katy but wanted to be proactive and create a thread for new "need to knows" about the area.

With the developments of the Katy Asian town commercial center, UH Katy breaking ground, the future boardwalk, and continued developments northwest, I figured it'd be helpful to have a 2019-2020 thread to reference for new people like me.

To be a little selfish I would love to kick off with any successes and pratfalls with buying property in the area and finding renters/roomates. Since, as we all know, decent multi-families are hard to find in Houston I'm taking the approach of buying a SFR with at least 3-4+ beds and renting out the rooms as best I can.

Again, thanks for everyones contributions to this forum and hopefully I can contribute with my own experiences in the future.

I just saw this event! I think this will be great, and I've been meaning to check out the Little Woodrows anyway