Before investing in property in the Houston area, it is important to know what makes a good Houston investment property.
Being aware of the vacancies and listings in the area where the investment property may be purchased can make or break the investment. By selecting an investment property in a Houston neighborhood that offers a low vacancy rate, an investor will be more likely to attract a variety of renters, compared to investing in a property in an area with a high vacancy rate.
One of the most important attributes of an investment property is the type of community the property is located in and the feel of the surrounding neighborhoods. Researching the types of neighborhoods that are near an investment property will give the investor a clue as to what type of tenants he may attract.
It is imperative to investigate and gauge the average rent rates in the area. Knowing these rent rates will help an investor decide if buying a specific investment property is in his best interest. It is crucial to gauge whether a profit is possible given the cost of taxes and the mortgage payment. Without the ability to turn a profit off of their Houston investment property, investors may be in for a costly outcome.