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18 June 2024 | 0 replies
The education and health services sector alone added 23,800 jobs in the past year, reflecting a significant expansion in these industries, particularly in healthcare and social assistance.Proximity to Major Employment Centers: Greater Heights offers convenient access to key employment hubs such as downtown Houston and the Galleria area, which are major attractors for residents due to the short commute and abundant job opportunities.Education: Nearby institutions like University of Houston and Rice University contribute to the area's appeal.Infrastructure Projects: Ongoing developments like the East Blocks Redevelopment and BioHub II at Generation Park enhance local amenities and attractiveness.Investment InsightsGreater Heights Rental Market Trends:Single-Family House Rentals:Median Rent: $1,350 for 1 bedroom, $2,695 for 2 bedrooms, $3,250 for 3 bedrooms, and $6,100 for 4+ bedrooms.Stability in rent prices with modest YoY increases: 2 bedroom rents increased by $195, and 3 bedroom rents by $250.Median Sold Price YoY ComparisonApartment Rentals:1 bedroom apartments saw a YoY increase of $305, 2 bedroom apartments by $667, indicating strong demand for these unit types.Available Rentals:High availability of both house and apartment rentals, indicating a robust market that can support new rental investments.Sales Market Trends:Median Sale Prices:Significant appreciation in home values, particularly in 1-bedroom homes, which saw a 190.7% increase from $215K to $625K.Other bedroom counts also showed positive appreciation, e.g., 2 bedrooms (5.3%), 3 bedrooms (6.5%), 4 bedrooms (17.4%).Market Activity:Increased number of homes for sale and sold, suggesting a dynamic and active real estate market.
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20 June 2024 | 13 replies
Hey @Amy Perry - we have a full service property management company with over 300+ units in the Greater Bangor area of Maine.
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20 June 2024 | 10 replies
I am in a similar situation and based in GA.
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20 June 2024 | 12 replies
I am not a lender but I do not think you will be able to get any financing based on cashflow let alone STR cashflow.
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16 June 2024 | 4 replies
One thing I run into often are borrowers who are looking for loans based purely on the After Repair Value of a Fix and Flip investment.
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21 June 2024 | 35 replies
I'd keep contacting the Code Enforcement Office (based on the squeaky wheel gets the grease theory).
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20 June 2024 | 20 replies
There are several skip tracing companies out there, find one without high volume minimums, flexible pricing options and excellent customer service.
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20 June 2024 | 7 replies
Also, this is specifically for when a new rental property is being placed into service and there is no Sched E history
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17 June 2024 | 6 replies
I saw a lot of conflicting information on the Internet about whether condo is a type of RE ownership or just a bunch of units sharing walls.
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19 June 2024 | 12 replies
Do you get a loan servicing company or does the buyer pay you directly?