Home Buying in Houston>Question Details

zyraknight, Home Buyer in Houston County, TX

what suburb do you get good rental yeilds for propertie priced at 100k? is there a suburb anyone recommends is good value for investment money?

Asked by zyraknight, Houston County, TX Sat Sep 15, 2012

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6
I currently have local and overseas investors that I work with. I also have a construction company and most of my investors use us to rehab the properties as well since we have low overhead and therefore past the savings on to the investors. Investors are welcome to contact me anytime for a free consulation. 1% back to investors at closing.

Alan Harper
World Wide Realty
2323 South Voss, Houston, Texas
281-905-2414

Investor Website http://allrealestate.us
Search homes for sale anywhere in the Houston area http://har.com/alanharper
0 votes Thank Flag Link Mon Sep 17, 2012
I currently have local and overseas investors that I work with. I also have a construction company and most of my investors use us to rehab the properties as well since we have low overhead and therefore past the savings on to the investors. Investors are welcome to contact me anytime for a free consulation. 1% back to investors at closing.

Alan Harper
World Wide Realty
2323 South Voss, Houston, Texas
281-905-2414

Investor Website http://allrealestate.us
Search homes for sale anywhere in the Houston area http://har.com/alanharper
0 votes Thank Flag Link Mon Sep 17, 2012
By law a Realtor is not supposed to direct you to one subdivision over another, it is called steering.
0 votes Thank Flag Link Sun Sep 16, 2012
I have a few subdivisions in mind for you, check out my website and send me an e-mail....
0 votes Thank Flag Link Sat Sep 15, 2012
Bear Creek you can pick up distressed homes under $100k if you freshen them up right they should rent $1000-$1250
Web Reference: http://www.DaveRealty.com
0 votes Thank Flag Link Sat Sep 15, 2012
There is no pat answer ... if there were, investors would be lining up to purchase anything that became available in that area.

$100,000 can buy you a 3-bedroom home in several suburban communities. But before we consider going further, I'd need to know whether you'd be paying cash or financing the property. That would determine you cash flow.

If you're looking for a mortgage, requirements for investment property differ considerably from those of an owner-occupied home. You'll need a minimum of 20% down (25% in some cases), and will have to document at least six months' cash reserve for any homes you currently own. If any are investments, the rental income is not figured in. Your credit and employment histories must be solid. I work with several investors, all of whom advise me that these are the current criteria in place.

Assuming a purchase price of $100,000, a monthly expense of $1500 on your current home, and no other properties owned, you'd need to show around $30,000 in liquid cash before a lender would consider you as a viable candidate for financing.

If you think you can qualify, your first step is to sit down with a lender. I work with several who specialize in investment properties, and will be happy to refer you. Should you be a cash buyer, I'll be glad to forward you some current statistics on numerous suburban areas that would work for you ... just send me your e-mail address, and you'll have the information within a couple of hours.

I trust that this helps ... please feel free to contact me if I may be of further service.

Regards ...

Al Geffon
(713) 213-6350
al@algeffon.com
Web Reference: http://www.har.com/algeffon
0 votes Thank Flag Link Sat Sep 15, 2012
Hello Again From the Colonies ...

I'm currently working with a Canadian investor, and was apprised of the requirements for financing in her situation ... yours should be pretty much the same:

30 days of paystubs
Evidence of annual income for two years
2 months of bank statements from asset accounts
Copy of Visa and status of citizenship

I trust that you find this information useful. Please stay in touch ... feel free to use my direct e-mail address. Regards ...

Al
Flag Wed Sep 26, 2012
Few if any questions involving real estate (especially investment property) have simple answers. I'll be glad to assist you in any way I can. It's best to contact me via my e-mail address ... al@algeffon.com ... or ... al@geffon.net. Once you've determined when you'll be arriving, please let me know, so we can begin to explore the possibilities. Thank you for replying. I look forward to hearing back from you.

Al Geffon
Flag Mon Sep 17, 2012
Hi Al, thanks for such a comprehensive response, my husband and I have a few choices to consider in terms of finance. we're able to get preapproval here from our lender in Australia for the full 100k, but by the time we're in Houston in March we will have enough for a 40% deposit if we consider getting finance in the States instead. We ideally want to purchase the property as an LLC but we are currently looking at the costs involved with that.

We have solid working background and solid repayments on our home and investment loans here so hopefully that will be of benefit should we aim to get financing in the States. though I have been told it isnt easy getting loans as a "foreign national" there?

Ideally this first home is to test the waters there and we hope to grow our portfolio pretty quick if the numbers stack and there isnt hassle in terms of leasing out the places we purchase.
Flag Sat Sep 15, 2012
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