All Forum Posts by: Michael Dang

As you mentioned resale value is slow, would you want to be in a position in the future where you have to be patient and possibly be frustrated with the sale process & duration?  Additionally, when you need access to your cash it won't be readily available for your next purchase or needs.  Just something to consider.  Galleria area is a very desirable location and that highrise location has good alternative routes or methods to access it.

@Kim Meredith Hampton and @Juan Vargas have good suggestions.  Show them your underwriting and rental comps in the area.  Be cautious that "emotion" is not a deciding factor with a negative cash flow property.  Have you done a rental rate market survey of the area to determine if the current rents are at market?

@Britt Ashcraft - I second Evan Howell.  http://evanhowell.com/

Good start to 2018!  Make it happen and let me know if I can help.

Thanks for the insight.  Sometimes we lose sight of what it takes to run a business.  

Welcome, joining BP is a great first step!  There are multiple real estate meetup groups in Houston and RE podcasts.  Find a few that interests you.  

My advice for a new investor is to decide and focus on which type of real estate you want. SFR, MFR, Retail, Industrial, Land, Notes, Wholesaling, Leases, and etc. There is a wealth of information and you will have to comb through it. All types of RE have there merits and downsides. A key is to FOCUS and not go after each new shiney toy that you come across.

Call Evan Howell.

http://evanhowell.com/property-management/

@Andrew Michael advice is good.  I'd like to add, clearly observe their manners when you speak with them.  Observe their vehicle and notice if it's in good condition and clean.  Check the rental history and references.  Verify employment with their employer and ask for paystubs.  Be thoughtful on the selection of how you will advertise your home for rent.  Just a few ideas.  

Sometimes it takes experience to know good renters.  Hope this helps.

I had once a makeshift dental office in the living room with a compressor hose out the window.  The tenant had a full waiting room until I showed up and stopped the party.

Interesting thread.  Hope you keep this post alive with your project.  Would be nice to see an evolving story.