All Forum Posts by: Michael Yeo

Thanks Timothy for your info. Sorry but can you tell me what is SFH, STR, LTR?

I do see that the prices are going up and up.  Recouping the initial investment will take a few years before it starts to bring in positive cash flow.  From your experience, which part of town is best to look into right now?  I was at the East side by the State park and saw so so much construction for new homes.  

So if I do get a home to use as a rental, what are the licence / insurance / city requirements that I need?  Do I need to tell the city that hey, this house is my own house but I am using it also for rental?  I looked at the city, and seems overwhelming and confusing.  I figure I can get a house, get a "caretaker / handyman", rent it out.  Or is it not as simple as that?

Thanks.

Good morning.  I will try to keep this to the point as much as possible and not blabber away like a teenager.  My name is Michael and I currently live in Rockwall TX.  It is time for my family and I to seek out new career and income, and owning a / or a few rental properties had always been at the back of my mind (be your own boss mentality).  So, with that in mind, I am here seeking advice / comments / suggestions on owning and renting out properties in this location.  I am aware that this will take a couple of years to flourish and become a main income maker, so keep the day job at the mean time.

I had not seen any new discussion about Galveston, so I figure I will start one.  

How are the prices right now as far as a house or a condo?

What are the pro / con when looking at a house and a condo?

Is it possible to pay a company to manage the house if I do not live close to Galveston?  How does that cut into the income?

East or west Galveston?  

I know there are so many other questions like insurance, location, type of dwelling, turn key or build from scratch, that i personally need to go down there and sit down with you guys, but for now, lets get that ball rolling.

I appreciate all input.  

Michael