All Forum Posts by: Randall Jacobs

Welcome Aushuah, take a look at the RICH Club, it should be your best source of information in the Houston area. 

Randy

Welcome Carlos, you live in my favorite area  for single family rentals. Stick to properties near by and you should do well. 

Randy

Basically it's a bad idea. Sell it and buy some rentals in your new location. 

Pearland and Friendswood are killer.  Rents have gone up more in the past 2 years than the previous 8. I can rent a place within a week with a Craigslist ad. And the quality of the applicants is stellar. Life is good. Now I wish I had more properties. 

Randy

To add another story.  About 4 years ago we purchased 4 BR forcloseure property. It was owned by a nurse with 3 teen age kids.  The  property was absolutely filthy.  The walls in the kid's rooms were filled with vile graffiti. It had all the standard forcloseure property problems.  We did a complete rehab and the place was stunning upon completion.  So we put it up for rent. Guess who was the first applicant? The nurse and her spawn!   Guess who's application got got lost in the shuffle 😊

Randy

Robert, this stuff really isn't bad if you do your homework.  It is just part of the price of doing business.  If you will reread, most of these people were screened out and were never allowed to rent. 90 % of of our rentals are pretty much trouble free. As with any business 10% will occupy 90 % of your time.  My rental business is so much better than my old 9 to 5. There is no way I would ever go back.

Randy 

Welcome Tim, I am an experienced investor from Friendswood. Good luck on your endeavors. 

Randy

Adam, I don't know where you live, but I have a personal rule. I don't buy properties that aren't within 30 minutes driving time from my residence.  Once you get a few properties you may want to change that time to 15 minutes 😊

All my properties are in the Houston Suburban South East area. I would avoid anything in Harris County though. 

Randy 

Morgan,  the first thing I would do is join the RICH Club in Houston. You can get the education and the contacts you will need . 

http://www.richclub.org

Randy 

I had an applicant a few years ago that was late for the appointment to one of my better houses . She came in  with an attitude and no apology. I  showed her the house and she didn't seem to like anything about the house, but wanted to see everything.  I expected her to  turn around and leave.  Then she said to me, "I am going through a divorce, I am used to living in a much nicer place than this, so, can you lower the rent by $100 a month, because that is all my husband will give me? 

I said no, but I wanted to say" I understand why your husband wants a divorce "