To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

My name is Matt, I recently moved to Houston and would really like to get into the local investment scene. 

Talk to a local appraiser and ask what upgrades add the most value in your zip code.  

Purchase price: $160,000 Cash invested: $35,000 A Bigger Pocket member I met at a local networking event had never invested, but really wanted to.

Nine out of ten have a commercial loan which ranges from 3% for the first one to 8,75% for the last one, exclusively with 10 years fixed rates from a local bank.

Start by learning a lot, meeting people, looking over deals, and choosing a keen spot.

Figure out ways to source off-market deals that are closer to meeting the criteria you are looking for (The higher your standards, the more difficult it will be, but that's the point of good deals).

Maybe see if your local flood control authority or whoever at the city would want it and maybe pay a nominal amount for it.

Making local connections to that area so you can get everything you need set up.

Thorough due diligence, professional communication, and familiarity with local laws are essential for smooth management and positive tenant relationships.Good luck!