jdbaker Posted July 13, 2006 Share Posted July 13, 2006 Ok, lets assume that you have to buy an investment property today. The only requirements are that it must be located in Houston, and the purchase price is under $250,000. Everything else is wide open. What would you buy? Quote Link to comment Share on other sites More sharing options...
native_Houstonian Posted July 13, 2006 Share Posted July 13, 2006 Height TriplexMay not be a bad investment.... Quote Link to comment Share on other sites More sharing options...
Scharpe St Guy Posted July 13, 2006 Share Posted July 13, 2006 I would purchase on the East Side of town. This house here: http://search.har.com/engine/indexdetail.c...=0&backButton=Ywhich is predestined for townhomes and the house falling down on the other side of Munger. The house falling down at 1401 Munger??? would all have views of downtown and overlooking the ball fields/park. You could pick both of these up for under $200k and hopefully develop them or sit on them and sell to a builder who loves to be able to build a few homes all close together for efficancy.Scharpe St GuyOk, lets assume that you have to buy an investment property today. The only requirements are that it must be located in Houston, and the purchase price is under $250,000. Everything else is wide open. What would you buy? Quote Link to comment Share on other sites More sharing options...
jdbaker Posted July 13, 2006 Author Share Posted July 13, 2006 I'm cheating a bit on price, but I think this one is intriguing1302 Alabama St Quote Link to comment Share on other sites More sharing options...
TJones Posted July 13, 2006 Share Posted July 13, 2006 Does anyone know about the property which appears to have been an Art Gallery at one time, at the corner of like Main or San Jacinto and hwy.59 ? Quote Link to comment Share on other sites More sharing options...
Scharpe St Guy Posted July 13, 2006 Share Posted July 13, 2006 jdbaker,1302 Alabama looks awesome. Great location and appears to be a good lot size and many rental units. Great property to sit on.Scharpe St GuyI'm cheating a bit on price, but I think this one is intriguing1302 Alabama St Quote Link to comment Share on other sites More sharing options...
TAK Posted July 13, 2006 Share Posted July 13, 2006 Height TriplexMay not be a bad investment....I am assuming it would be financed, and if that is the case, this 'investment' would have negative cashflow, unless you put down about $100k.1302 Alabama cold probably be had for under $250k - it's a foreclosure and needs lots of work, but it's in what looks like a good spot.assuming the 'investment' has to be real estate...to me, it depends on what you want to do with the $250k and what form the $250k is in... If I had $250k in cash, I'd look to purchase an apartment complex. $250k is a 20% downpayment for $1.25MM. $1.25MM will buy a decent apartment complex. Just eyeballing, I'd see if i could get 400 Westmoreland for $1MM, leaving me $250k for closing costs, fixup, and marketing to get it 100% occupied. Or, I'd buy 1506 Vermont at $500k and 3422 White Oak for $600k.But if you mean $250k - period - can't be leveraged (or that is the leveraged maximum)...I might find a corporate relocator and ask them if they have any executive clients who are interested in renting any particular home (or homes) in Houston. I'd let them pick out a home that is for sale (or even new build) and I'd buy it and rent it to them.I'd probably look for a multi-family home of some type... anything that will cash flow with a $250k mortgage.Give me $250k and 90 days I'll let you know how I've invested it. :-) Quote Link to comment Share on other sites More sharing options...
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