Reata at River Oaks (for sale, apartment complex, foreclosures)

[mlk433]

Hi!

Does anyone know anything about Reata at River Oaks? I've been looking at some of them on HAR and the value seems good, but after some google research I saw that they are converted apartments and have some nasty reviews around the internet. Also, they got hit really hard during the housing collapse, with 33% foreclosures.

Do any of you live there or know someone that lives there? Would it be worth buying a one bedroom for low 100's or a two bedroom for high 100's? From what I can tell, my monthly payment with principal, interest, taxes, and condo fee would be well less than what a one bedroom currently costs in the area.

[travelguy_73]

I would check out the owner occupancy percentage and see if they qualify for mortgages. These conversion projects are havens for investors who buy to rent out, which will impact getting a mortgage as well as resale. They are glorified 90s apartments, nothing more.

[eastontracks]

I thought about these, along with some kirby ones by med center. If its in the low 100's, maybe less than 130? I'd say that's a fair investment. With that price, you'll probably be paying the same, if not less than what rent goes for those types of places.

I think the value of them will gradually rise but no huge increase in value. To me, these are good to rent out once you move elsewhere. As the other poster said, see how many owners occupy the units.

[nervouslaughter]

My wife used to live there as a renter. The location is excellent. I can't recall what the own/rent ratio was, but I know the HOA was super strict. Oh, and the best part? You can brag about the pool. It's shaped like, well, take a look. Apparently there's a story about how the contractor got into a dispute with the developer and this was his f-you to them.

[eastontracks]

^^^
Haha that's awesome

[Htown4311]

This is basically just an apartment complex, no character or charm. The location is the only thing going for it. There is a british guy, the former board president, who goes out of his way to harass residents and creates a menacing, threatening living environment. I would not encourage anyone to rent or buy there.

[Schumacher713]

The housing collapse is so long behind us now. Prices are way above where they were before the crash. I don't know much about it. I can say that the location is great. Regent Square is being built in those fields next door. This should make those apartments appreciate a lot being walking distance. Though I don"t see apartments appreciating a lot. Land is appreciates a lot. Townhouses and highrises don't go up the same in value. Though know little about apartments for sale. At 100K it is not a bad price when you consider apartments are renting at 1500/month. I hate apartments that get all butt hurt about pool parties and fun. Some are just too anal.

That pool sucks. There are better ones at other complexes.

Welcome to Regent Square

[TXAggie1280]

LOL. I remember that english guy! Micky Freeman, Michael Freeman, or whatever his name was. That dude was a freak show. He made up ridiculous stories about having been in the army to chat with girls out at the penis pool. He was certainly an creepy and unstable individual. I heard there may have been some shady dealings between him and the guys he used to call out to "boot" everyone's cars for expired registration tags. What a degenerate.

[nervouslaughter]

Originally Posted by TXAggie1280

LOL. I remember that english guy! Micky Freeman, Michael Freeman, or whatever his name was. That dude was a freak show. He made up ridiculous stories about having been in the army to chat with girls out at the penis pool. He was certainly an creepy and unstable individual. I heard there may have been some shady dealings between him and the guys he used to call out to "boot" everyone's cars for expired registration tags. What a degenerate.

Yeah, he was a grade A a-hole. He booted my wife's car one time for a simple mistake she made. It took every bit of me not to beat the crap out of him. Then again, he thinks he was in the MI5. They are pool nazi's as well. Super strict about it and hire someone just to make sure you don't have more than 2 guests. So basically, no group gatherings. Location is excellent, but everything else sucks.

[TXAggie1280]

Yeah he singlehandedly brought the collective property value and livability of the place down due to his asinine behavior. Not exactly M15 material, probably just bitter about his service as a 'fluff boy' to the potato pealing squad.

I heard he was some sort of girls soccer coach. Can't imagine wanting that weirdo around my daughter.