50% of our clients visit the Houston area and schedule a property tour with us. We spend half a day touring our office and meeting our staff, touring neighborhoods, homes for sale, homes under construction, and completed homes. Clients get a good feel for the neighborhoods and rehabilitation process. We also drive around in my F-150 pickup for the entire Texas experience but more importantly it gives you the opportunity to ask all of your questions and concerns about investing out of state and in the Houston market. I have compiled my top ten most frequently asked questions that come up on the property tours:
Topics: Property Tours
The thought of buying out of state and several hundred miles away can sound scary. That is why I wanted to write about the advantages of buying out of state and some of the pitfalls to look out for. I have always advised to interested parties to invest where it makes sense and live where you want or where your occupation is. For a lot of investors that live in high housing cost areas like California, Arizona, or New York it makes sense to invest in markets that have low housing costs, a strong economy, and strong cash flow. It doesn’t make sense financially to invest in a property that has negative cash flow. The only reason people do this is they feel the property is going to appreciate at a much higher rate than the rate of money they are losing each month. This is called gambling and no one can predict if a market will always continue to appreciate. Thousands of investors lost fortunes in the last down turn investing like this in California, Nevada, Florida, and Arizona.
Topics: Rental Property Tips