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Is grand prince ln , Houston Tx77075, a good place to buy a house.

I found a property for $75K .Is this a good area to buy an investment property. I am after an investment property in an area that has good school and in good neighbourhood. Can anyone please guide me.
  • September 24 2013 - Houston
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Answers (5)

As an investment property, you need to have an agent that can do numbers for you. The best investments are those that can generate between 7% to 12 % in your investment. Best schools make a property more desirable BUT when looking to for investment, it is best to look at a property that makes you money.

Calculating the yearly rent, minus insurance, taxes and any additional cost like management fees, will get you the gross rent divided by the purchase price, gets your rate of return!

When looking at an area, look for home for sale and for rent, this way you will have an idea of how much you can rent a home for. 
  • October 05 2013
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I can sure help you with that. I'm a Houston Real Estate Agent, Now there is a Grand Price Ln. In North Houston, near Richie and the Hardy Toll Rd. Very close to Nimitz High School; now that is not the zip code 77075. Zip code. 77075 is South Houston, near the Beltway and Hwy 45 North of Pearland and South of Hovey Airport.
Feel free to contact me and give me more details and I can surely help you on your research. Houston is not zoned like Dallas or other cities. On Houston you have good neighborhood next to bad neighborhoods, is very important that we pinpoint the exact location where you are planning to purchase because that will depend the schools that your children will go to. you may contact me at (713) 505-9452 or at spanama@gmx.com I will be more than glad to help you.
  • October 04 2013
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I know this place, but can you tell me the name of this neighborhood
  • October 04 2013
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1:  Look at the area, is the market hot?  Is there any reason it will be?  Is it convenient/smart for you to live there?

2:  Look at comparable properties.  Are they gaining in value?  Decreasing?  Spending years on the market and never selling?

If the answer to any of these questions is no, you need to sit down and crunch numbers in order to convince anyone with a sound investment mind that buying an investment property in this area would be a good idea.

Also, you need to factor in repairs, improvements, and any other additions you'd like to make to the home, if any.

Don't hesitate to reach out to me if you have other questions.  I never mind helping.  Good luck and play it smart!
  • September 25 2013
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If you're looking for investment real estate, you need to be more concerned with the numbers than pretty much anything else.  Have you looked at the property?  Have you estimated what repairs will be needed to make the property rent ready?  What will the property be worth after making the repairs? How will you finance the deal?  What will your return on capital gain be?  How about the cash on cash return?  There are a lot of things you need to look at to safely invest in real estate.

Feel free to contact me directly and I can give you some information on investing in the Houston metro area.  I am licensed in Texas, but am not currently selling there.   I would be more than happy to put you in touch with an investment group that teaches how to wisely invest in real estate.

I look forward to hearing from you.
  • September 24 2013
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