Hi John,

I would have to agree about the rental market in Houston. It is strong. Also, find someone that knows the area where you are looking to buy. Some areas are better than others and your REALTOR really must know the area. I have a client now selling a condo in west Houston. The properties in that community rent very quickly because it is so centrally located but also reasonable to rent.

Wed Jun 4 2008, 09:31

John:

Houston rental market is strong, and it is even stronger right now because of the current situation. I own rental properties inside the loop and in Galveston County. All mine do rather well providing a nice cashflow. My one bedoom w/study (2nd Bedroom) condo inside of the loop rents for $1,250. It is in an older complex but rents rather quickly because of the location. If you want to do condo/townhomes then you need to be in locations that are popular. If you want to be in single-family then you need to look in areas that are growing and that have good rental areas. My rental formula serves me well in the markets I target. If you are an out of town investor, make sure you find someone that knows the markets well, and that are landlords themselves! Good luck with your search! I have had two clients in the last couple of months who have bought in Houston from the East Coast just as you are doing. Their money will be well spent here and they will see a better return here than in the stock market in my opinion.

Tue Jun 3 2008, 11:43

John,
I would direct you to North Harris County or Montgomery County not just because I work this area, but because this is one of the fastest growing areas in the U.S.. The industry is light and white collar.
Taxes are lower in Montgomery County. That is why I work this area. A the chicken or egg thing.
The Lone Star Air Port in Conroe is being expanded and is to be larger than our Hobby in a few more years, but it will be transport. That will bring in more jobs.
The Woodlands is a completely master planned city, light industry - Oil and Gas and other firms headquarter here.
The North Harris County area still has room for more industry and is close to Bush Airport.
My out of state investors are staying away from Condos unless they are near the or a Medical Center or one of our lakes. You want a low vacancy factor because you have the taxes , condo maint. fees and sometimes the subdivision maint. fees to contend with.
Price range will vary too much to say with out knowing more . Have to break down by neighborhoods, Can't do just a Sandy Springs vs Buckhead thing - has to be by subdivision or Condo Complex here.

Let me now if I can help you more. I work all of North Harris County and all or Montgomery County but if you need someone for the rest of Harris County, Ft. Bend or Galveston County I can put with with a Realtor that works with out of state investors.

Good Luck in your search
Margaret

Tue May 20 2008, 19:07

Hi John,
Sounds like you need to get hooked up with a good real estate agent that can answer your questions and then potentially a good rental agent. Three bedroom/three bath homes here could range from 100K to over a million, average purchase price would be about 159K, but that doesn't necessarily tell you alot. What will 159K buy you is the question. Here it would be anywhere from a 2500 square foot house thats a bit older in a neighborhood on the outskirts, to a new house that is close to 1500 square feet with granite countertops with excellent schools in the area.

Good luck with your search. You might want to contact one of our experienced Houston agents and have a talk!

Sun May 18 2008, 09:50