Real Estate Gurus: Gelt Inc. Houston, Texas

When acquiring a property we always make sure to shop the entire area within a 3-5 mile radius. We get reports that indicate rental rates and occupancy. We then double check these reports by spot checking many apartment complexes and seeing how accurate they are with their numbers. We ask if there are any rental concessions being made such as free first month rent or reduced security deposit. This can alter our projections significantly.

For this particular purchase we have to make sure that we purchase the property cheap enough that after spending significant money on rehab we are still able to make a profit by charging market rents. We may be able to be a bit higher or on the high end of the market by pushing some improvements that some other complexes in the area do not have.

We always like going to the properties at night and see how the lighting is. A good amount of lighting prevents crime and also makes the property look better at night. We make a point to talk to many of the existing tenants to see what the mood of the property is. We want to see if the tenants are content living there and safe.

Landscaping is a major part of the property that makes it attractive when driving by. We want to catch the eyes of anyone that passes by that could be a prospective tenant. At Gelt Inc. we cater to our demographic. Since the demographics are predominantly Hispanic, we make a point to include colors and foliage that they enjoy.

Roofs can be a major cost. We always inspect all the roofs for standing water, cracking, and any other issues. We made sure to physically inspect the roofs ourselves and not just rely on the words of the contractors.

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Education

Tags:

• Houston
• houston real estate
• apartments
• multifamily
• reo
• rehab
• texas real estate
• texas
• gelt inc

[Rubynas]

He is cute and funny!!!