After extensive improvements, the property sold for $425,000 on 05/30/2024.

On most investment properties this will be limited by the lender to 2%ish of the sales price.

One property is the residence of the owner. 

I was looking more into North Houston and saw a few properties in Spring, TX.

Hey everyone,Today, while driving around, I came across a property that looks like a great investment opportunity.

How many properties do you have?

My goal is to eventually hold onto this as a rental property.

But ultimately you make money managing properties. 

A set of two multifamily properties are being liquidated and sold near me and it’s about $2M before any possible discount/negotiations with the owner.

@Ray HageI agree as I would stay away from condos as between special assessments and increase of fees, what is the risk vs reward.Many of these buildings are run by people who are not property managers or have development experience and lack the knowledge to properly run the propertyAlso many don’t realize that on older buildings your initial estimate will be 30-50% less once the work starts, especially on older concrete buildings that are susceptible to deterioration due to the weather in these areas (especially the salt)