Real estate investing is a good way to diversify your portfolio – and a good way to lose money if you’re not careful. Dan is a good friend of mine who’s a CPA. He’s the sole income provider for his wife and two girls. During the 22 years I’ve known him, he’s always been cautious with his money. I was surprised when I he told me he bought an investment property.
Dan has attended real estate seminars in the Pasadena, California area through Marshall Reddick who gives buyers an entire network of property managers, agents in other cities and financing options.
I was even more surprised when Dan told me the investment property is a new home in Houston, Texas which he purchased for $135,000. He plans to rent it out for the next 10 years and he’s counting on appreciation of about 5% per year. He used money from savings for the down payment and said he won’t use equity from his own home in Temple City, California.
He chose Houston for its economy and he chose the house since it’s located near good schools. The metro area expects to have more than 30% growth during the next 15-20 years. Dan figures a newer home will have few maintenance needs during the next several years.
Dan’s not trying to get a large, fast return. Instead he has his investment goals and criteria set clearly.
If you’d like more information on Houston and the surrounding area log on to this report:
(photo from visitusa.com)
Houston, Texas
No comments:
Post a Comment