Where to buy Rentals in Houston (Spring: for sale, real estate, foreclosure)

[OddJack]

Hello all,


I have been a reader for long time of and on and have found valuable information here.


For those of you familiar with the area, I have a question.


I would like to invest in a rental property in Houston area. Budget is around $300K


Looking for recommendations.


Please tell me your choices and Why.


Thank you!


OJ

[gwarnecke]

Good luck. A lot of buyers have the same idea as you. The $300k price point is white-hot for both investors and owner-occupants.

[OddJack]

Thank you gwarnecke, however that didnt answer any questions or help with anything.

I would really welcome someone's input who actually has something to say about the topic.

Have a great day!

[gwarnecke]

I'm just trying to emphasize that you're going to find a lot of competition in your search.

If it helps - narrow down a neighborhood or suburb to focus on and find a realtor who specializes in that market. You really need to find a local expert (and it goes without saying - line up your financing asap or be ready to pay cash). You need someone who knows what homes are coming on the market soon and can get you a showing the day it goes live (or even sooner).

If you want recommendations for a specific neighborhood - consider Green Trails Crossing or Krystal Lake Estates. Beautiful, quiet, safe, great schools, relatively short commute to Energy Corridor and Memorial City, no major flooding issues. Occasionally homes come up for around $300k or less but you have to act fast.

[airdrawndagger]

Originally Posted by OddJack

Hello all,


I have been a reader for long time of and on and have found valuable information here.


For those of you familiar with the area, I have a question.


I would like to invest in a rental property in Houston area. Budget is around $300K


Looking for recommendations.


Please tell me your choices and Why.


Thank you!


OJ

Depends on your angle. Are you interested in buying and immediately renting out or renovating a distressed property, followed by cash-out refi and rental? They are very different markets.

That said, I'm curious as to why you're interested in investing in residential real estate right now. The market is pretty much at an all-time high and there will likely be a correction in the coming years due to suspension of the foreclosure moratorium and abatement of the pandemic. With every boom there is a bust...

[OddJack]

Thanks again gwarnecke,

Do you live in the area? I am already working with an agent, but, as you would probably do the same, you just dont go with whatever they tell you. You have to do your own research. People like you would be a great resource. I am from CA and plan to visit in June and just doing my homework. I know there are tough competition.

What do you think of Woodwind lakes, Woodland oaks, Jersy village area?

I am checking Krystal Lake and Trails crossing right now.

OJ

[OddJack]

Originally Posted by airdrawndagger

Depends on your angle. Are you interested in buying and immediately renting out or renovating a distressed property, followed by cash-out refi and rental? They are very different markets.

That said, I'm curious as to why you're interested in investing in residential real estate right now. The market is pretty much at an all-time high and there will likely be a correction in the coming years due to suspension of the foreclosure moratorium and abatement of the pandemic. With every boom there is a bust...

Hi there, thank you.

No distressed homes. Homes to rent right away.

I wouldnt wait for a correction. Let's not go there.

Please everybody, let's keep it simple. I appreciate your info alot and I am even willing to pay for your info.

Let's just imagine you want a rental property around Houston, where would you look?

Lets forget about competition and correction for now.

Thanks again.

[gwarnecke]

Honestly I recommended those areas because I am most familiar with them. My in-laws will be moving to Houston in the next few years and we've singled out these neighborhoods to keep an eye on. Mainly because they're the least-expensive area closest to us (west Houston) that balance all of the plus-points mentioned above.

I'm not familiar with those areas you mentioned, other than the general location. I see those older but relatively close-in suburbs as good long-term investments, since they are fully built-out and offer relatively short commutes. Just pay attention to zoned school ratings (hit or miss in older suburbs) and flooding issues.

You might want to also check out Spring Branch (our second choice after Green Trails and Krystal Lakes). $300k will get you a 1950s ranch home with mediocre- to poor schools, but Spring Branch is quickly gentrifying and is starting to attract high-end construction even in neighborhoods with so-so schools. It shouldn't be a bad long-term investment.

[OddJack]

I checked those areas, as you pointed out not many for sale now. East of 6 and south of 10 many for sale, but not sure if as good.

[dd1153]

Originally Posted by airdrawndagger

Depends on your angle. Are you interested in buying and immediately renting out or renovating a distressed property, followed by cash-out refi and rental? They are very different markets.

That said, I'm curious as to why you're interested in investing in residential real estate right now. The market is pretty much at an all-time high and there will likely be a correction in the coming years due to suspension of the foreclosure moratorium and abatement of the pandemic. With every boom there is a bust...

You must not realize how many families are relocating to Texas every day.