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Posted by
arsalan faruqi

I would like to buy a property which is actively being used as corporate housing

I'm looking for a condo which is already being used as short term corporate housing (furnished rentals) and would like to use it both for investment purpose and if I want to reside for a few months myself. I would also want to engage a property manager at a later stage. i'm interested in a neighbourhood with high rental occupancy preferably the energy corridor area. My overall budget is less than 100k.What are my options?

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I would like to buy a property which is actively being used as corporate housing

By arsalan faruqi   
Posted on Apr 18, 2016 in Topic: Home Buying
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I'm looking for a condo which is already being used as short term corporate housing (furnished rentals) and would like to use it both for investment purpose and if I want to reside for a few months myself. I would also want to engage a property manager at a later stage. i'm interested in a neighbourhood with high rental occupancy preferably the energy corridor area. My overall budget is less than 100k.What are my options?
Status: Open
Viewed: 609
Asked by: Consumer
Posted: 1 year ago
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Diamond
Veronica Mullenix
about 1 year ago
Currently there are no TH/condos in the Energy Corridor already furnished and rented that are for sale. I did find 14 TH/Condos for sale in the zip codes 77077 and 77079 (Energy Corridor) for sale ranging in price from $85K to $128K. Some are completely updated, and others not very updated, most are vacant. Your best bet is to purchase a TH/Condo and furnish it yourself and then advertise it as a furnished rental. But, first, you should interview Realtors and find one who specializes in the purchase and rental of investment properties. Working with a specialist will be a tremendous asset to you over the years as you build your income property portfolio. Real estate investing is exciting and fun, I wish you much success. vm


about 1 year ago
Gold
Mark McNitt
about 1 year ago
A better approach would be to purchase a vacant condo, then place rental furniture in it (that way you did not purchase the furniture and can switch it out as needed). Once you get a tenant, you would set up the utilities, internet, linens,etc. Keep in mind with $45 oil as of June 1, 2016, there is not a big demand for furnished corporate apartments. Remember, the company does not pay the rent for their employee, but these types are usually a very good bet. This unit you purchase MUST be completely updated top to bottom or else these type of clients will simply rent from apartment communities or those companies that set up these type of units like Murphy's Corporate Housing. Keep that in mind as your search. You likely will have to put down 30% if your financing. If we can assist, let us know. Mark McNitt, Bernstein Realty. 832-567-4357


about 1 year ago
Diamond
Francois Delille
about 11 months ago
To be frank, do not do such investment in the energy corridor now. The demand is down, the supply is up with apartments dropping their prices for furnished housing.
I would suggest the medical center which is more stable. The demand comes from patients, doctors and medical personnel on temporary assignments and is high year round regardless of oil prices.
francois@cozy-homes.com 713 397 8857


about 11 months ago
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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