All Forum Posts by: Tom MacDonald

Thanks everyone for your replies, good info!

Hi BP community!  I am hoping that there are some experienced investors out there who can weigh in on a big decision I am in the process of making.  I currently live in Sydney, Australia, and it is an absolutely beautiful place to live.  However, I have a rather high-stress job with long hours, and I find it difficult to enjoy life as much as I feel I should.  More than ever, I want to pursue my dream of becoming a successful RE investor, but I have found that it will be very difficult to start in Australia for various market and legal reasons.

My hometown of Houston, Texas, on the other hand, seems to be a great place for RE investing with low entry barriers, plus I have a lot of friends and family there to help support my efforts.  What I'm thinking is that I will move back to Houston within the next few months and quickly acquire my first property, hopefully a duplex via house hack.  Thus would begin my RE career, and I would transition to part-time work at my job as quickly as possible to focus on investing.

So there are probably a lot of naive assumptions in the above that you members will surely set me straight on.  I think my big question is this - how does Houston rank as far as a place to begin as an investor?  I'd feel better leaving the beaches of Australia if I knew that I was headed to a fairly auspicious market.

Thank you!
Tom

I'm in a similar situation, recently moved to Sydney but would like to invest in my home city of Houston.  Hope an experienced investor comments on this thread.

Hello BP, 

I am seeking mentorship and/or partners to acquire a buy & hold property in Houston, Texas within the $100k - $200k range within the next three months.  I'm interested primarily in purchasing a conventional 3/2 rental located within a good school district such as Pearland or Friendswood.  I am also open to hybrid rental/Air B&B potentials near the Houston Medical Center, with which some friends of mine have had great success.

What I can offer in a prospective partnership is capital for down payment, committed market research, and physical 'boots on the ground' investigation of potential properties here in Houston until Wednesday, November 25.  After that date I will be working in Sydney Australia.  (I'm looking to invest in Houston vs. Sydney because Sydney is an extremely difficult market and Houston is relatively accessible.  I also know the Houston neighborhood landscape fairly well, having grown up and worked here.)

What I am looking for is a serious investment partner(s) - preferably with an existing portfolio - to help in loan pre-qualification, deal analysis and mentorship.  I also need references to good realtors - preferably who are also serious investors themselves - in the Pearland/Friendswood and Texas Medical Center area.

Thanks in advance!

Tom

Hello BP, 

I am looking to purchase a 1-2 bedroom apartment or condo near the Houston Medical Center.  This will be an AirBnB property catering primarily to those visiting the medical facilities.

This will be my first real estate purchase, and I am looking for suggestions on how to find a great realtor and what type of loan I should pursue.  As a veteran I could use my home loan benefit, however I don't know if this would be the best use for it.

Any help greatly appreciated,

Tom

Excellent info, thanks Roy!

Hi guys, I am a long-time BP podcast listener and this is my first forum post.  I am hoping that someone can offer insight into the requirements and effects of gaining agricultural exemptions, particularly in Texas.  My interest stems from the following real estate strategy I am forming:

1. Identify around 10 acres of undeveloped/partially developed land in my home state (Texas) that is within the trajectory of projected urban growth.

2. Develop the land to provide water + electricity.

3.1 Install manufactured homes on the land and acquire renters.

3.2 Install horse stables and rent space to horse owners.

4. Gain an agricultural exemption to significantly reduce land taxes.

5. Sell for profit as urban growth increases land value (5-10 years).

I am a young but motivated investor and would be appreciative of any information.

Thanks ya'll!

Tom