Home Buying in 77056>Question Details

DTHouston, Home Buyer in Houston, TX

I am looking for a good investment prop in Galleria area.can you please suggest some properties with low monthly maintenance and good rental income.?

Asked by DTHouston, Houston, TX Mon Jul 1, 2013

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12
I'm assuming that you're looking for a condominium unit, given your reference to monthly maintenance fees. The vast majority of the complexes are older (most were built in the 70's), and maintenance fees are continually rising. "Low" is a relative term. You're most likely going to be in the $250-$450 range ... a few may be higher, since some developments include electricity in the fees. Most units are 2-bedroom, 2-bath, with one assigned parking space (could be covered or open ... garages are rare). Costs are all over the place ... from the mid-$100's to the $300's, depending on size, condition and amenities. Rents could run anywhere from the $700's to the mid-$1000's, again according to the criteria noted above.

High-rises are outrageous. You could get a nice deal on the unit ... but you'd be paying upwards of $1000 in monthly maintenance, most likely in the $1500 range or higher.

I trust that this information proves useful. I can also suggest other locations where ROI can be a bit more attractive. Please contact me at the e-mail address below. I look forward to hearing from you.

Regards ...

Al Geffon
(13) 213-6350
al@geffon.net
Web Reference: http://www.har.com/algeffon
1 vote Thank Flag Link Mon Jul 1, 2013
Gosh this one is a little tough without more information. Galleria area is a pretty hot one and prices tend to be on the higher end of the spectrum. Are you thinking condo's or single family. This stuff makes all the difference. Reach out and work with a qualified professional to help you on your quest.

Saul Carrillo
832-527-2268 saul.carrillo@carringtonres.com
3333 Alabama, Suite 125
Houston, Tx 77098
License No. 0573768 Atlantic & Pacific Real Estate (US), LLC
http://www.CarringtonRealEstate.com
0 votes Thank Flag Link Wed Jul 24, 2013
Hi DT the monthly maintenance will depend on the type, size and age of the property you are interested in. The Galleria area is in high demand and if you would email me some information as to exactly what you are looking for, then II will be happy to forward you some properties. There are some other great areas in and around the Galleria area which you might be interested in. My email address is gail.levin@kw.com.
0 votes Thank Flag Link Tue Jul 2, 2013
Feel free to call me I work with many Investors here in Houston. CP 832-274-1831
0 votes Thank Flag Link Tue Jul 2, 2013
Hello,

As you may already know Galleria area is in high demand and the prices of the properties coincide with that demand. Prices start around the $150,000s and rent starts upwards of $1,000 depending on the size, and location of the unit. Looking at it from an investment perspective, what do you want as your bottom line? Will you be financing and carrying a mortgage? Maintenance fees range $250 per month and upwards. Do you have a feel for the dollar amount you want to make every month after mortgage, taxes, fees?

If I can help, please feel free to email or call at the contact below.

Persis
persis.realtor@gmail.com
713-294-7747
0 votes Thank Flag Link Mon Jul 1, 2013
I am hoping for at least 600 to 700 per month income.
I can invest up to 150 k , put 20% down.i would like to buy a hassle free property with good rental potential.
Flag Mon Jul 1, 2013
Please email me your specific criterias, for example your budget, property type and so on. And I will email you the listings in that area which are suitable to your needs.
My email is christina@key2katy.com
0 votes Thank Flag Link Mon Jul 1, 2013
I am looking for a 2 bedroom apt/condo in a nice neighborhood with good rental potential.i would like to be under 140k and hoping for 600 after taxes and mortgage , I can be reached at yashorcl@gmail.com
Flag Mon Jul 1, 2013
DTHouston,

There are a number of properties on Bering of interest. Sales on smaller sqft is in the mid 100k range and on the larger units in the 200's (the highest sale in the past 6 months was 295k). These units are leasing from 1500 to 1800 (or more) a month. Prices are increasing, so your profits are decreasing as the market heats up.
0 votes Thank Flag Link Mon Jul 1, 2013
Please suggest any other areas with similar returns on Condo's and High rises.I didn't want the hassle of house maintenance on an investment property.
i am OK with 40 cents /SF as long as the rents and good to cover it.
0 votes Thank Flag Link Mon Jul 1, 2013
The Galleria area can provide some values. However, you will need to establish parameters on what in acceptable maintenance costs, price you are willing to pay for the investment, etc. In this area, maintenance fees may be found in the mid 40 cent /SF range on a monthly basis.
0 votes Thank Flag Link Mon Jul 1, 2013
please suggest any other areas with similar returns on Condo's and High rises.I didn't want the hassle of house maintenance on an investment property.
i am ok with 40 cents /SF as long as the rents and good to cover it.
Flag Mon Jul 1, 2013
DTHouston,

We would need more info about what you are interested in. What kind of property do you want to buy? What are you looking to spend? Are we talking about a high end property? What kind of risk do you want to avoid? What is your definition of good income? Is there a certain ROI we need to acheive? If you could answer these questions, we could definitely show you the right property to invest in. Let's talk about your needs over the phone and then schedule a face to face meeting.

Brandon Jenkins
NewHomePrograms.com
832-377-1721
0 votes Thank Flag Link Mon Jul 1, 2013
I would need to know more about your budget and if you are wanting something to fix up.

Also a House or Condo?

Thanks,

Kevin Sechelski
Realtor
832.545.5503
Contact@HouseHuntingHouston.com
0 votes Thank Flag Link Mon Jul 1, 2013
DTHouston,

We would need more info about what you are interested in. What kind of property do you want to buy? What are you looking to spend? Are we talking about a high end property? What kind of risk do you want to avoid? What is your definition of good income? Is there a certain ROI we need to acheive? If you could answer these questions, we could definitely show you the right property to invest in. Let's talk about your needs over the phone and then schedule a face to face meeting.

Brandon Jenkins
NewHomePrograms.com
832-377-1721
0 votes Thank Flag Link Mon Jul 1, 2013
I am looking for a High rise /Condo .
I would like to keep it less than $175K.
I would like to make at least 1000$ after taxes and maintenance.
Flag Mon Jul 1, 2013
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