For the past three years I have been investing in Real Estate in Houston, TX. Currently with our market situation, many contacts that I know have come to me asking if it's a good time to invest. My answer? Yes, it was a good time to invest 5 years ago, 3 years ago, 1 year ago and definately still a great time to invest. The nice thing about our current market is that buyers and investors have more choices to choose from.
For my new investors out there, you should be prepared to put a minimum of 10 percent down on their investment. They should also keep in mind that there are closing cost, title fees and inspection cost. Depending on your niche or market you are targeting, there could be some repairs or cosmetic work you should also be prepared for.
Investors should also remember to get an inspection on a home. Just because your are buying a house as is or at a great price, there could be some hidden factors to be aware of. Always get an inspection and never try to cut corners when it comes to purchasing your investment.
I encourage investors to work with real estate agents that are knowledgeable in the market place. There are many factors that you need to consider when choosing your investment. Location, Price, Style of Home, Repairs Needed are all factors.
My niche is single-family homes in suburbia Houston, Texas. I keep my price range under $100,000, single-family, all brick, 3-bedrooms and in a great elementary school district. (Key in having higher rent prices is the school district, more directly is the elementary school).
If you are looking for your first real estate investment property, call your real estate agent or if you are in Houston-Galveston region, I will be happy to assist you and use my experience in helping you.