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Old 02-22-2012, 07:46 PM
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Anybody familiar with the North Spring subdivision? I drove through it and looked at a few houses on har.com, looks like a pretty good place for homes below $110,000. Am I missing something?
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Old 02-22-2012, 10:11 PM
Location: Houston area
1,408 posts, read 3,476,411 times
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It really is surprising up there. I had a client who purchased many investment properties up there. I'd lease them out for them and they would go quick. Homes that cost $110k-$130k would lease for $1200-$1500 a month. They were newer 2000+ homes with 2500 sq ft. They were nice for the price. A lot of new subdivisions were built there in the boom. Some have bad quality though, so beware of that. Also keep an eye on the rental market. You'd want to avoid buying in neighborhoods with a lot of rentals. I encountered a lot of renters who wanted to use Section 8 vouchers in those areas. Surprisingly, housing gives $1100-$1300 vouchers for people with 5 kids. Aside from that, it's just not a good idea to purchase a home in a neighborhood full of renters. Nothing wrong with renters, but if you have too many then you'll have a high turnover rate and not enough stability.
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Old 02-23-2012, 02:51 PM
20 posts, read 34,504 times
Reputation: 23
Great to know! Thank you so much!
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