gingersiam Posted March 7, 2007 Share Posted March 7, 2007 Hello Everyone,I am new to the forum. Reading the posts it seems like many of you have a good feel for what the future of Houston is going to be. I am thinking of purchasing some land in the 5th ward area. I am hoping that the property will go up in value in the next couple of years. Although the price of the land is very low, and I know that all investments are a gamble, I would hate to throw money away on something that might be used for a better investment. The land is very close to 59 and I-10. It is between Geen and Market street. I wonder if anyone can offer me their thoughts or opinions. I know that streets like Gillespie and Clinton on the other side of I-10 have started building some new homes that are in the $200's. Thank you in advance! Link to comment Share on other sites More sharing options...
jm1fd Posted March 7, 2007 Share Posted March 7, 2007 Hello Everyone,I am new to the forum. Reading the posts it seems like many of you have a good feel for what the future of Houston is going to be. I am thinking of purchasing some land in the 5th ward area. I am hoping that the property will go up in value in the next couple of years. Although the price of the land is very low, and I know that all investments are a gamble, I would hate to throw money away on something that might be used for a better investment. The land is very close to 59 and I-10. It is between Geen and Market street. I wonder if anyone can offer me their thoughts or opinions. I know that streets like Gillespie and Clinton on the other side of I-10 have started building some new homes that are in the $200's. Thank you in advance!Well...generally speaking, if the price of oil stays high, keeping the local economy running at full tilt, then it will probably be a good investment sometime in the near future due to its proximity to downtown...I mean there's only so much space that's close to downtown. If the bottom falls out of the price of oil, and the local economy cools off (thus cooling construction/redevelopment), then it may be many, many years before you see a return.If it is TOO close to the freeway (lots of noise and bums living under overpasses) then it may never be a good investment. Link to comment Share on other sites More sharing options...
TheNiche Posted March 7, 2007 Share Posted March 7, 2007 Hello Everyone,I am new to the forum. Reading the posts it seems like many of you have a good feel for what the future of Houston is going to be. I am thinking of purchasing some land in the 5th ward area. I am hoping that the property will go up in value in the next couple of years. Although the price of the land is very low, and I know that all investments are a gamble, I would hate to throw money away on something that might be used for a better investment. The land is very close to 59 and I-10. It is between Geen and Market street. I wonder if anyone can offer me their thoughts or opinions. I know that streets like Gillespie and Clinton on the other side of I-10 have started building some new homes that are in the $200's. Thank you in advance!I had the option to basically be given land along Market Street a couple years back. The back taxes and City leins were the big turn-off. Title history was also sketchy IMO.But it is within a few blocks of a big Section 8 apartment complex that is tucked into the armpit of I-10/US 59. That makes for some undesirable neighbors for most of the 5th Ward land that is closest to downtown Houston, and I'd be extremely hesitant to dabble in it. For appreciation potential, I'd go to Central Park/Magnolia Park before I went to that part of the 5th. Link to comment Share on other sites More sharing options...
gingersiam Posted March 7, 2007 Author Share Posted March 7, 2007 I had the option to basically be given land along Market Street a couple years back. The back taxes and City leins were the big turn-off. Title history was also sketchy IMO.But it is within a few blocks of a big Section 8 apartment complex that is tucked into the armpit of I-10/US 59. That makes for some undesirable neighbors for most of the 5th Ward land that is closest to downtown Houston, and I'd be extremely hesitant to dabble in it. For appreciation potential, I'd go to Central Park/Magnolia Park before I went to that part of the 5th.Thanks for the replies. I drove by the neighborhood and it was strangely quiet. It almost seemed like a ghost town. I was wondering about those large apartment complexes on Lyons Link to comment Share on other sites More sharing options...
musicman Posted March 7, 2007 Share Posted March 7, 2007 Thanks for the replies. I drove by the neighborhood and it was strangely quiet. It almost seemed like a ghost town. I was wondering about those large apartment complexes on Lyons Link to comment Share on other sites More sharing options...
TheNiche Posted March 7, 2007 Share Posted March 7, 2007 Thanks for the replies. I drove by the neighborhood and it was strangely quiet. It almost seemed like a ghost town. I was wondering about those large apartment complexes on Lyons Link to comment Share on other sites More sharing options...
gingersiam Posted March 7, 2007 Author Share Posted March 7, 2007 I don't remember the combination of Section 8, Tax Credit, Bond, and other subsidized housing along Lyons, but nothing of relatively decent quality is market-rate.The one that I'm talking about is a large complex south of Green and west of Gregg.This is a valid concern. Illegal dumping on vacant lots is common, so unless you can take the time to drive by every now and then to check on things, I'd be hesitant to make that kind of an investment.Thanks again for all the input. I am prepared for taxes upkeep etc., but the illegal dumping is something I did NOT take into consideration...that is a really good point...I guess I saw the price for land on Gillespie, which is just a few blocks away and thought that might be the future for the rest of 5th ward. Link to comment Share on other sites More sharing options...
gingersiam Posted March 7, 2007 Author Share Posted March 7, 2007 the best investments are the ones that you can make without being worried about. even if it is an empty lot you will be responsible for maintenance so that will cost you money as well. if you think you can make something of it, long term then do it. if this is impt money to you, then i wouldn't do it.This is a good point too Link to comment Share on other sites More sharing options...
TheNiche Posted March 7, 2007 Share Posted March 7, 2007 This is a good point too Link to comment Share on other sites More sharing options...
gingersiam Posted March 7, 2007 Author Share Posted March 7, 2007 Try looking for assets that produce immediate cash flow. I suggest becoming a slumlord and hiring a property management firm to handle the dirty work. Risk is high, but it can be quite lucrative. Alternatively, if you're hooked up with a lot of small businesses or entrepreneurial types, look at warehouses in the East End and similar other neighorhoods. If you can get even low-rent tenants in those things, the combined returns and appreciation can be pretty good.Also remember to protest your taxes ever so often. In Texas, property taxes can eat you alive.Niche-I don Link to comment Share on other sites More sharing options...
TheNiche Posted March 7, 2007 Share Posted March 7, 2007 I don Link to comment Share on other sites More sharing options...
spiderman Posted March 8, 2007 Share Posted March 8, 2007 I bought a large house in Eastwood with a former-girlfriend that she's living in and I'm slowly flipping. I got an offer on it recently that I'm negotiating, even though we wouldn't be able to take away as much $$$ as we would if we completed the renovation. But even if I were to take it (and the odds are slim at this point), the money would go right back into the East End. I'm very confident in that part of town, and it will continue to do well as long as downtown Houston prospers.Washington Terrace is also a good neighborhood to put money into, in my opinion, as are parts of the Near Northside. The 4th Ward already seems a bit pricey for my taste, especially since it has a high concentration of subsidized housing nearby. On the other hand, the skyline views are among the best in the city, and it is certainly well-positioned for appreciation.NicheWhen you mention parts of the Near Northside as good to invest in, could you elaborate on which parts you would consider?I currently own property in Lindale Park, and have thought about venturing further south and maybe buying something closer to downtown - do you have any thoughts on any specific areas?many thanks Link to comment Share on other sites More sharing options...
TheNiche Posted March 8, 2007 Share Posted March 8, 2007 NicheWhen you mention parts of the Near Northside as good to invest in, could you elaborate on which parts you would consider?I currently own property in Lindale Park, and have thought about venturing further south and maybe buying something closer to downtown - do you have any thoughts on any specific areas?many thanksThere are certain little nooks that I'd buy up with a fury if I had the resources. Generally speaking, I think that the south side has the best potentials, especially closer to N. Main Street and Fulton. Specifically, I'd be scouting for homes and lots in the nook along the north side of Little White Oak Bayou and south of a cemetery, east of N. Main. Streets in that little enclave are Cosmos, Goldenrod, Hyacinth, Marigold, Lilac, and Jessamine. This neighborhood has topography, proximity, and good views.I wouldn't commence any sort of development until I had a fair bit of the land within that area, though. Right now, it is just too rough. Link to comment Share on other sites More sharing options...
Guest danax Posted March 8, 2007 Share Posted March 8, 2007 Streets in that little enclave are Cosmos, Goldenrod, Hyacinth, Marigold, Lilac, and Jessamine. This neighborhood has topography, proximity, and good views.You and I have similar taste in prized spots. The topography is precious in the above mentioned area, which I would guess will become spotted with townhouses before long, which will help to ignite the fire of redevelopment in the next decade. Link to comment Share on other sites More sharing options...
houstonmacbro Posted April 1, 2007 Share Posted April 1, 2007 Is there any flooding in the east end. I heard horror stories about Allison and I know about the floodplain maps, but does anyone have first-hand knowledge of flooding in the east end or Eastwood? Link to comment Share on other sites More sharing options...
TheNiche Posted April 2, 2007 Share Posted April 2, 2007 Is there any flooding in the east end. I heard horror stories about Allison and I know about the floodplain maps, but does anyone have first-hand knowledge of flooding in the east end or Eastwood?Most of the East End doesn't on account that drainage is generally good, and the bayous are wide, deep, and/or straightened. Areas along the Buffalo Bayou as it nears the ship channel are also industrial in nature, so the impact is less when it does flood. There's been a whole lot of HCFCD work on the lower Brays Bayou recently, too, so it is unlikely to be much of a problem in the future, either.Eastwood doesn't flood under just about any circumstances, although there are some small pockets of the East End that do get flooded out on occaision. Be careful in Idylwood or neighborhoods adjacent to Brays. Link to comment Share on other sites More sharing options...
houstonmacbro Posted April 2, 2007 Share Posted April 2, 2007 Thanks for the information. Link to comment Share on other sites More sharing options...
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