All Forum Posts by: Michael Ran

tel:(832) 573-6815

He helped buy and manage both of my properties. He supervised the evaluation, deal, and rehabs; of a 336unit and 106 unit. He is very well known in the Apartment association (he was the president and state rep). He built them both from 18%occupancy to 100%.

Full disclosure: Celtic is still my MF management company(5years). John(owner) was/is also my mentor in all MF deals. He is also a long time family friend( my little brother and his sons have been friend since 1996).

Welcome!! Let me know if you need some help. Remember to set your keywords.

there will still be growth but the big boom will not happen till oil prices start going back up. The rents right now are just not there at the prices per in the area. Anyone that can pay above 1600+ a month in rent can buy a house. average salary for starting engineers is 180k. 

The grow will be more noticeable in higher end property sales not median rental holds.

The long term 20 year outlook will be great but right now there looks to be a correction coming. 

This is all my opinion!!! So as you understand my comment also understand that if you can find deals that will be looonnnggg term holds and don't mind the dip and can cover costs till the up swing go for it! I am holding cash for the dip and the excess supply to buy big in the area.

@Andrew Flanagan  the Exxon development will increase demand on the north side. But the people that work for or with exxon are buyers not renters. Also exxon employees are in the higher end price ranges. So buying an old 1970, 1500sqft house at 150k will not truly capture this type of market. They want 300k minimum homes. And they want to buy not rent.. This will not help buy and hold people's rental pool as much as people think. Also there are plans for well over 1000 new homes in the 1- 3mile radius of the development. The supply of housing will be very high which is bad for real estate investors.

Now with oil prices low guess what else will happen. Hiring freezes and fat cutting of the lower level(low paid) support staff and production staff(if production is reduced). This will hamper the opportunity and growth of the areas  middle class works(aka-renters). They will have more new homes then end buyers. This will mean price drops. 

So in my opinion (unless you are a wholesaler) wait for the drop then buy newer homes that just can't be sold. Because the oil market is still going to survive but growth needs to be at $78+ a barrel. So long term yes I love the Exxon developments opportunities for the community but there will be a dip to get great deals in the near future.

I would not advise a 2 year lease in houston. It gives tenants more rights and it can be a harder  eviction fight(personal experience). This is a tenant screening issue and possibly a rent issue.

if your rent is at market rent people may be able to find a different place. Try to keep below market rent. Best product best price is the thing I follow.

Welcome!!! Remember to set your keyword alerts. The Houston market is alittle over priced in my opinion, so be picky for your first properties. Good luck and happy hunting!

Just my personal opinion FYI:

Houston is going to see a drop in property values unless the oil price goes back up. I am holding out for the drop before buying more. Next year will be interesting for the first quarter at least! If you plan to buy before the drop be a little pickier on locations and age of the houses you look at. new can mean less issues and will maintain their values better if it drops, plus they will go back up faster.   But this is only my opinion.(even though I was right about oil dropping to $65 or less. I love the futures market!$$$)

@Priyanka Johri  has one on the north side in the woodlands once a month. I think every 3rd Monday each month.

There is a flipper 101 meetup in spring. 25th of November at Dennys i45 and Cypresswood. It starts at 6 or 7 pm

@Vinny S.  Welcome! This is a great place to learn and network.

What are you looking to invest in? Are you looking just to make money or rentals(networth)? SF or MF? 

There are a lot of people who have failed in this business because they don't have a clear plan and path. This should be your first goal to do. "What do I want and what is the path to do that." there are many ways to make money in real estate. Which ones are your favorites and best for you? 

Small(5-40) MFs are tough for newbies if you don't have a team on the ground to manage them when you are not in the area. It is easy to be over charged for management of out of towners or over pricing at purchase or bad location.

Don't let this scare or discourage you! You just need to be aware of these risks.

Sebastian is right, turnkey will be your safer bet for SF rentals. It also mean you will be paying top dollar which I am sure you have heard "you only make money in real estate when you buy it".

here is a non real estate option. MLPs and some start up investment stock give dividends of 6-15%(this is where I am putting some of the extra cash I have.)

On the real estate side, I think hard money or private lending is the best and easiest way to make the returns you are looking for. At least for your traveling future.

Houston turnkeys are looking over priced for me. I am a buy and hold investor but I don't see the rents moving up fast enough to offset the purchase prices. "It could be just me!"