Investing in Texas

Viewing 5 posts - 1 through 5 (of 5 total)

Robert Wilson
Participant
@robwilson
Join Date: 2005
Post Count: 19
November 29, 2009 - 3:47 am
Hi fellow investors,
I 'm looking at investing in single family homes built after year 2000 in the Dallas-Fortworth and possibly Houston areas,
seems like you can pick up a fairly nice property for around the 60-80k mark that is renting for the 600-800 per month.
If anyone who is currently living and or investing in these areas and could provide any useful tips and areas that are good and bad to invest in,
along with possible pitfalls to watch out for,
that would be much appreciated.
Also if there are other investors out there interested in doing a similar thing as myself,and would like to throw some idea's around you can contact me
Rob Wilson
PH 0400488249
I've already done quite a bit of research on the U.S market and on Texas in particular.
The reason I like that area is that it has quite a bit of diversity,with agriculture,oil collages along with reasonable weather that isn't a hard on buildings and humans as it is in other parts of the U.S.
I plan to go over there for the month of June and take a look at the current market conditions,and hopefully pick up a low maintenance cash-flowing bargain.
look forward the replies
Cheers Rob
Robert Wilson
Whether you think you can or think you can't ....... your right . - Henry Ford
Steve McKnight
Keymaster
@stevemcknight
Join Date: 2001
Post Count: 1,763
November 29, 2009 - 9:26 am
Hi Rob,
Make sure you check out realtor.com, and search for the area of interest.
The post-foreclosure (short sale) is an interesting option.
– Steve McKnight
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.com
Success comes from doing things differently
Robert Wilson
Participant
@robwilson
Join Date: 2005
Post Count: 19
November 30, 2009 - 7:35 am
Hi Steve,
I been looking at properties on realtor .com for a while now,
I have seen a few short sale deals on there but to be honest I don't know much about them at all
will have to do some research.
Kind Regards
Rob
Robert Wilson
Whether you think you can or think you can't ....... your right . - Henry Ford
sapphire101
Participant
@sapphire101
Join Date: 2006
Post Count: 203
December 3, 2009 - 6:33 pm
Hi Rob,
Have a look at http://www.globalpropertydeals.com
I have met the guys personally and they are investing near Dallas, San Antonio and Houston and have been for the past 4 years or so,(before the housing problem). They have invaluable local knowledge that you are after.
Hope it helps
Regards
Ian
Luke Taylor
Participant
@world-changer
Join Date: 2005
Post Count: 415
December 3, 2009 - 11:36 pm
Hi Rob,
I personally reckon if yr gonna do deals for cashflow in the states you want to see at least 30% returns
plus good cap growth prospects because the issues that come up are just unbelievable.
The 60-80k fo 600-800p/m are – cashflow ,and very negative at that.
The taxes in many areas are 3%p/a plus for starters before other costs.
So ,if yr looking at investing there aim heaps higher as those deals will kill u.
You need to be there and getting the best deals yr self with BIG discounts to make the profit. Try getting on
the San an and Houston investor forums and speak to some of those guys that have been doing it for years.Ask them if they
do long term "cash flow" and how it returns.
Speak to an accountant(real estate specialist) on the forums .There r a couple there trustworthy.
Be careful who u speak to in yr research though as there are alot of sharks in this industry in the usa.
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email Me
Property Support,Strategist and Buyers Agent