If you are interested I would like to recommend someone to speak with. He may have some cost effective alternatives for you. Contact Raul 832-492-2387 and tell him Maria referred you.
Remember very few realtors, or agents make a living as investors. You may want to ask this question "How do you make a living through your RE investments, or selling RE for commissions?â€
Owning a rental property takes a lot of planning budgeting and preparation. Getting the right tenants is key to alleviate unforeseen major issues with the home, and prevent the occurrence of frequent late payments.
It is true that Investing is not an easy task, but like I said before you will have less risk involved if you can get inspections done, like in a HUD home, compared to buying a home from a "courthouse steps"auction, where sales are final before you can inspect the house.
For those looking to invest in rental property, most lenders require 20% to 25% down, in addition to six months' cash reserve for each other home owned (not counting rental income), including one's residence. Needless to say, a solid FICO score and verifiable employment history are mandatory.
While the Houston rental market is quite active, there's so much more to it than sticking a sign in the yard and collecting rent. As an investor myself, I know firsthand. Even with a substantial amount in the bank, a foray into the wonderful world of rental property requires thought, planning, research ... much the same as any other entrepreneurial venture.
If it were as easy as some folks tout it to be, wouldn't everyone be doing it?
If anyone would like a free list of good investment properties in your area, feel free to contact me.