All Forum Posts by: Sesha Bhojanapalli

 Thank you - Even after all the research - it seems that buying a property in Texas is a bit complicated due to the size, home value growth (MoM), yearly, inventory, days on market, housing units, population, price cut share etc. 

So, any help from the local realtors on the areas is greatly appreciated.

Thanks

SB

Hold on, why is this your problem? Why so angry? What I posted was a realtor who is familiar with their areas to respond and I can work with them to purchase a property. If you did your homework good for you, I didn’t ask for yours or ask for anyone to do work for me but for realtors to reach out as indicated in my first line that I have an approval already - so please refrain from being mean. 
if you want to be angry or be somewhere else - I don’t need your help or support.

Hi Biggerpockets friends

I have an approval for a multi family home in Texas. I am looking for quadplex, turnkey with tenants already in the quadplex. My primary goal is equity growth and if possible cash flow (not sure if that's possible in this market). I am planning to keep the property for at least 10 years - so a newish property or fully renovated is preferable (so turnkey). No HOA please (unless its inexpensive and not too much oversight).

1) What is the best town / city in Texas for a rental investment meeting the above criteria?

2) Do you have any properties meeting the above criteria?

Thanks

SB

Thanks @Karl McGarvey for your honest answer. 

@Karl McGarvey; Thanks for the response. I am planning to buy and hold for at least 7-10 years; My goal till then is to use the property as rental investment till then. So, I was more curious on how the rental incomes would work in these two areas especially as they are newer properties. Any thoughts?

Hi Everyone,

I have put down earnest deposit on couple of new properties in Magnolia (By Lennar) and Porter (huge golf course and lake community built by David weekly); 

I visited Houston and found out there are so many properties in the area currently being built by many builders.

Questions:

1) Can someone local and in the investment business, please tell me if I will get steady rental income?

2) How does the future growth in this areas look like? what is the sources of income for many folks in these areas?

3) As this is a newer property, how many years should I buy and hold the property for?

Thanks in advance.

Hi Everyone,

I put in earnest deposit on two new single family constructions - Lennar in Magnolia and The Highlands - Porter by David Weekly (both properties are 3 bedroom)....I am not from Houston area, Can anyone here please tell me if these were wise choices for rental properties? I am not getting a convincing answer from my property managers or realtors.....Absolutely appreciate your help.

My primary goal is to rent it out (so any thoughts on how much rental I can get for 3 bedroom and 2 bath properties in these areas for new constructions? And any thoughts on how much increase in property value can I see in the next 7 years?

Thanks in advance.

Hi Everyone,

I have put down earnest deposit on couple of new properties in Magnolia (By Lennar) and Porter (huge golf course and lake community built by David weekly); 

I visited Houston and found out there are so many properties in the area currently being built by many builders.

Questions:

1) Can someone local and in the investment business, please tell me if I will get steady rental income?

2) How does the future growth in this areas look like? what is the sources of income for many folks in these areas?

3) As this is a newer property, how many years should I buy and hold the property for?

Thanks in advance.

Hi Everyone

My realtor provided had introduced me to a multi duple properties (attached to each other) with home owners association etc. 

The building will not be ready to be moved in till next year August. I am to pay an earnest fee of $5k. The property is in an upcoming area with lot of great amenities. 

The problem(s): My real estate attorney looked at the contract and basically said that this is cover your *** contract.

To do or not to do: 

pros: The property will be managed by a company as its out of state; secondly, its a good property area, up and coming area; I am only paying earnest payment as of now

cons: not going to be ready as per the builder till next year; CYA contract by the builder.

Please advise on what is the best route for me here.

Wow, thank you all for the insights. You folks absolutely rock! this has been very helpful. I am going to bid based on the price I think is right, I am good either way on the outcome. Thanks for the suggestions.