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Tap Into Our Local Market Knowledge Before You Buy
The Greater Houston area offers many sound real estate investment opportunities, but you need to know where to find them. C. R. Realty has been buying and selling homes in the area since 2004 and has thorough knowledge of the local market, amenities, and buyer interests and expectations.
We'll set up a private consultation with you and establish the kind of investment you're looking for and then we'll quickly begin compiling a list of suitable properties.
For more information, call 832-646-0512 or fill out the contact form on this page now.
Follow These Realistic Tips for Property Investments
Before you invest in property, consider these six steps that will help you make the right decision and help you find investments that will deliver profits now and in the future.
Chris Gray, a property expert and the author of The Effortless Empire - Building wealth from property, notes that real estate investments are a fantastic way to build and hold wealth, as long as you invest wisely.
Tip 1: Choose Property That Attracts Tenants
As Gray observes, your main goal should be to buy something that suits the majority of the tenants in a given area. That's where our expertise comes in.
However, there are common features that will ensure your residential property is attractive to most renters and will guarantee your income stream.
- Clean spaces
- Good-sized bedrooms
- Off-street parking if possible
- A good position away from noise and main roads
Tip 2: Choose Property That Will Increase in Value
Don't mistake a lemon for a good prospect! If you buy around the median price then more people will be able to afford to rent it or, if you're ever put in a forced-sale position, more people will be able to buy your property.
Gray points out several factors that help properties grow more valuable, including proximity to a central business district, as well as beaches, schools, public transportation, and leisure facilities.
Tip 3: Buy Blue Chip Properties
The main reason cheap properties are cheap is because there's not a great demand for them and there are plenty of them to choose from.
It's often worth paying the current market value for a good property in a top suburb. There's no advantage in getting a discount for something that no one really wants.
Tip 4: Renovate to Create Instant Equity in Your Property
Gray says that for every $1.00 you spend on renovating, you should aim to get at least $1.00 to $2.00 back in your property value. Quick renovations often do the trick.
- Painting
- Recarpeting
- Tidying the garden
- Painting the fence
- Installing new curtains or blinds
- Replacing kitchen cabinet doors and drawers
Tip 5: Refinance Your Property to Create a Buffer
As your property increases in value, you should refinance to create an emergency cash buffer zone. Gray observes that you don't want to find yourself in a forced-sale position because you won't get the best price and the sale may trigger capital, gains, taxes, and other expenses.
If you have a cash buffer, you will be able to continue making mortgage payments even if you lose your job.
Tip 6: Re-Sign Your Reliable Tenants
Be sure you have a professional property management company like C. R. Realty taking care of your sites. We can ensure you're getting reliable tenants and that they are paying a good market rent.
As Gray says, your aim should be to tie your tenants down to 12-month agreements since that will help guarantee your rental income.
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C. R. Realty5604 1st Street Suite #101Katy, TX 77493
"This was our second time to utilize Chad\'s services to purchase an investment property and it was an excellent experience again. I would recommend him to anyone. "
Feedback on Jacobs River 06/05/2017
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