Rookie buyer seeking advice on investing in Houston

Profile picture for joefox217
Hi, my name is Joe and I am a novice in real estate investing that is looking to take advantage of the low prices on homes for a mid to long term investment.
I have recently looked into to buying 3 condominiums as part of a 'purchasing group' (not sure what the term is in the US). Anyway, the initiating company does has purchased a complex of 224 condos from a company that needed some cash (according to them). The initiating company will take care of everything from buying to managing and to selling in 24-36 months(if the investors chose to do so). The prospects and presentation seems lucrative but I guess you never know how true everything is. I was wondering if anyone out there can tell me if a) Houston is a good city for real estate investments in general. b) more specifically, if anyone knows the area of Parramata Lane ( TX 77073) or the area of The Woodlands.
The investment does not involve huge sums of money (around 50k and the rest is financed by the initiating company) but I would still like to know if this deal sounds kosher.
Any information would be much appreciated
Thanks
Joe
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September 22 2011 - Huson
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Answers (2)

Profile picture for joefox217
thanks a bunch, I'll check it out
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September 22 2011
Profile picture for sunnyview
If I were buying in Houston I would contact Cindy LaPeer here. She seems to be very sharp and aware of the market in Houston. There are also several other good agents here in Zillow Advice from Houston that may be able to help you.

Texas is a non disclosure state so a good agent can really help you get the numbers together that you can use to make a wise investment.
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September 22 2011
 

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QuestionRookie buyer seeking advice on investing in Houston
  • Latest answer by joefox217
  • September 22 2011
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