$300K rental property, which area would you choose? - Medical center, Montrose, Heights, Uptown, or other suggested area (Houston: apartment, rentals)

[rlj0430]

If you have $300K and like to invest in rental property, which area would you choose and why?


Medical center, Montrose, Heights, Uptown, midtown and downtown or other suggested area


Personally, I would consider the appreciation of value and also comparative stable cash flow.

[clutchcity]

Originally Posted by rlj0430

If you have $300K and like to invest in rental property, which area would you choose and why?


Medical center, Montrose, Heights, Uptown, or other suggested area


Personally, I would consider the appreciation of value and also comparative stable cash flow.

I'm assuming you'll be looking at townhomes with that budget? I would go with Montrose.

Here are some options, both of which have hefty maintenance fees though:

http://www.har.com/612-fargo-street/sale_92076499
http://www.har.com/1312-harold-st-4/sale_22526314

[rlj0430]

Originally Posted by clutchcity

I'm assuming you'll be looking at townhomes with that budget? I would go with Montrose.

Yes, townhomes. I also forgot to include Midtown and downtown.

[cheryjohns]

Never go with townhouses or condos as rentals. Maintenance fees keep coming, even if the property is vacant. Cut it down to $200K and hit a desirable subdivision instead.

[rlj0430]

Originally Posted by cheryjohns

Never go with townhouses or condos as rentals. Maintenance fees keep coming, even if the property is vacant. Cut it down to $200K and hit a desirable subdivision instead.

With $200k, I would say it can get newer houses in far suburburn, or older houses close to city. I have not found a perfect combination with that budget. Please recommend if you know any areas. thanks,

[Houston321]

I would purchase two one story homes in the 125-150K range. Rent would run about $1400 per month. I prefer this strategy for several reasons. Home is easy to rent, rent is similar to an apartment. Home is easier to fix and maintain, it's small, it's a one story. Home is easy to sell, several buyers in this price range.

[clutchcity]

Originally Posted by rlj0430

If you have $300K and like to invest in rental property, which area would you choose and why?


Medical center, Montrose, Heights, Uptown, midtown and downtown or other suggested area


Personally, I would consider the appreciation of value and also comparative stable cash flow.

Honestly, if I was you I would take a gamble on a move-in ready single family home on a full size (5,000 sq ft) lot in a close-in neighborhood.

Sure this house is next to TSU in not the most desirable of neighborhood, but it isn't far from everything that Houston has to offer.

It's also very nicely renovated.

2910 Barbee St, Houston, TX 77004 - HAR.com

[hendersj31]

Get a place in Eastwood. You may be able to find one with a garage apartment or even a multi unit that needs a little work.

[Svensk08]

Originally Posted by hendersj31

Get a place in Eastwood. You may be able to find one with a garage apartment or even a multi unit that needs a little work.

The days of finding a property like that in Greater Eastwood in the OP's price range are just about over. Most would need more than "a little" work.

[Failed Engineer]

Originally Posted by Svensk08

The days of finding a property like that in Greater Eastwood in the OP's price range are just about over. Most would need more than "a little" work.

True, but you could probably find one in Idylwood.

But for investment properties in Houston, I would stick to sub $150k for best return and easiest rental.