Owning a Houston rental property can help you set yourself up for a financially stable future. With a rental property, you can own another property where someone else pays your mortgage and that also produces income. While there’s plenty of work that goes into owning and maintaining a Houston rental property, you can hire local real estate professionals to help you from start to finish so, you don’t have to worry about where to find the right property, deal with maintenance, and even evicting tenants.
Once you’ve made the decision to start looking for a rental investment, the next question is where do you start?
You’ve got two options – do your research online or hire a real estate professional.
Clueless on which area to begin with? Start local and do a bit of research on various real estate websites. Look into the current listing prices of commercial or residential properties, property taxes, and demographic information.
If you decide to hire a real estate professional, contact a local property management company to help you find the right property. A property manager usually works with a local sales agent to assist you in selecting which areas is more competitive and high demand. Further, you will need a realtor or a real estate agent to assist you with your purchase and a professional property management company can assist you in preparing and maintaining the property for the rental market.
Just like any investment, investing in a rental property is a big risk that’s why it requires a thorough research by a real estate professional. But first, let’s get to know your local area – Houston. Is Houston good place to invest in right now?
5 Reasons to Invest in Houston Rental Property Now
1. High Population – Experts have predicted that Houston will keep a steady pace with the country’s leading markets because of its population’s continuing need for housing. Its thriving business culture, fashion, sport, research, technology, education and many other things is the primary reason to start Houston property investment.
2. Strong Economy – Houston property investment benefits from being the incredible job prospects as it is an important trade, business, energy, and medical center; fair average purchase prices and positive real estate market forecasts. The Texas economy is strong and Houston has got a lot of business-friendly factors and favorable tax laws which have motivated no less than 20 Fortune 500 Companies are headquartered in the Houston metro area. This makes it even more exciting reason to invest in Houston properties.
3. Growing Buyer’s Market – Although home prices have been steadily rising in recent years, Houston is still an affordable buyer’s market. The average home in the city is sold anywhere from 5 to 20% below fair market value. It’s worth mentioning that at the height of the pandemic in March 2020, Houston sold 571 more single family homes than it had the year previous. Houston real estate market is still developing with many inner-city neighborhoods still has spaces for construction and residential housing.
4. Stable Job Growth – Houston boasts a huge healthcare, energy, aeronautics, and transportation industry. Big companies want to have their centers set up in Houston. There are already 22 companies on the 2020 Fortune 500 list call Houston metro area their home. The Houston Metropolitan Statistical Area (MSA) is home to 41 companies on the Fortune 1000 list. This makes Houston fourth among metro areas in the country in Fortune 500 headquarters.
5. Variety of Investment Properties to Invest In – You can easily find a lot of investment properties in Houston. There’s a lot of investment properties available in Houston and there’s a lot of movement going on in the real estate sector. This is another good reason to start property investment in Houston.
The Houston housing market in 2021 holds fascinating surprises on its own. The reasons laid out above make investing in Houston rental property one of the best and secured long-term real estate investments in America.
It’s only logical to tap into the stability of the Houston housing market if you’re thinking about buying a property this year
Moreover, experts say that Houston is more resilient and one of the strongest performing cities despite the coronavirus and the depressed oil price that is impacting the oil industry.
Working with Apogee Properties
Apogee Properties is Houston’s leading real estate management company. We work and live in Houston and our property managers are local. We’ve been in business for more than a decade providing comprehensive property management services in the Houston region ranging from a studio condo to a multi-family million dollar estate.
Apogee looks forward to hearing from you and sharing what we can offer to your Houston property. Contact us today to learn more!
