Like someone else said, if you want this to be a casual thing then leave the renting to others. Find something to live in and hope it appreciates. If you really want to invest, you can get a four-plex for that price. Likely an older property and renting to lower-income tenants, but you get more cashflow. Be prepared to landlord though. Good and bad things on that last point. Good is mainly the cashflow. Bad is everything else.
I can get to downtown Houston, leaving @ 615am by 705am Almost all the communities out here allow you to buy a lot and sit on it ....in fact, thats what most people do (as investments) if you can get into an acre right when a neighborhood comes online, before the infrustructure gets put in (roads, utilities, etc.), you can go from a $10,000K investment to selling for $20,000-$30,000 in about 2-3 years easy (example: we bought our acre for $20,500 ...the previous owner had bought it 2 1/2 years earlier (right when they were first building the community) for about $9,500
My parents bought property in the area recently because they're planning on moving back down in about two years. They were looking at a property by the new school (Magnolia West High), and come to find out, that property value had more than doubled in a year or two.
Did you just say something about leaving by 6:15am codell? Dayum. I've been surfing the 'Net and have found various communities in that Magnolia area. Looks nice - especially the areas with trees. The prices seem ok, too. Of course I haven't visited them. I think I'll stop by down there in a month or two and check out the area. I also need to find out what all is going on up there in terms of what's being built and future plans for the area. For me, I'd like to buy 1-3 acres and maybe in 5-7 years either move back to the Houston area and build on it or sell the lot(s) if I decide not to. Thanks for the info Eddie and codell.
everything in Magnolia has two things, 1) Lots of trees and 2) Lots of wildlife (specifically deer) Ill post some photos later of the 10 deer that were in my front yard the other morning
For $150,000, I'm not sure you can get much in the Midtown or neighboring areas anymore. Properties under that amount need rehabilitation.
Does anyone know how fast property appreciates around Midtown area? Or the trend in property value that it has seen recently?
Very fast. The area is growing and developing every minute. There is a brand new Camden apartments on the cusp of the 4th ward/Midtown/Downtown. Another development by Farb Properties is going to pop up further down Bagby.
I did some searching today and one area I kept getting referred to was the the SE side that is being developed. I am talking about the area right accross 59 near the Minute Maid, George R. Brown, and TC where the old China Town is at. They said this area is great for investment and I saw alot of new townhomes being built. I guess everyone is banking on the fact that the new park and convention center will be built in front of GRB. Only problem is most of them are starting at 200k.
