Houston, TX- 5 Properties- Kevin Wood
Followed the heading posting above. My 2nd post on this particular is not to ask for advice on a condo, but to share the first 5 properties my business partner and I purchased. All are located in Houston, TX. All are currently rented with the exception of one property where sale is conditional on new carpet, new paint, and rented. Not included here are holding costs at 8%. Insurance amounts are high. All costs are yearly. Here is a rundown of the properties operational costs. We have vacancy estimated at 8% and closing costs etc. :
#1 3 Bedroom 2 Bath
Purchase Price- $88,473
Rent Per Year- 12,806
Mortgage- 4287
Insurance- 500
Taxes- 1,914
Maintenance- 957
Management- 1,025
Miscellaneous- 1,000
#2 3 Bedroom 2 Bath
Purchase Price- $73,727
Rent Per Year- 10,113
Mortgage- 3,572
Insurance- 500
Taxes- 1,541
Maintenance- 770
Management- 809
Miscellaneous- 1,000
#3 3 Bedroom 2 Bath
Purchase Price- $93,388
Rent Per Year- 12,696
Mortgage- 4,525
Insurance- 500
Taxes- 2,056
Maintenance- 770
Management- 809
Miscellaneous- 1,000
#4 3 Bedroom 2 Bath
Purchase Price- $69,795
Rent Per Year- 6,996
Mortgage- 3,382
Insurance- 500
Taxes- 1,500
Maintenance- 729
Management- 795
Miscellaneous- 1,000
#5 2 Bedroom 1 Bath
Purchase Price- $58,982
Rent Per Year- 8,777
Mortgage- 2,925
Insurance- 500
Taxes- 1,287
Maintenance- 643
Management- 702
Miscellaneous- 1,000