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Updated about 6 years ago,

User Stats

6
Posts
1
Votes
Alex Di Savino
  • Houston, TX
1
Votes |
6
Posts

Numbers review on personal property to rental

Alex Di Savino
  • Houston, TX
Posted

Hey Folks, 

I've been browsing BP for a while and purchased a personal residence less than a year ago. Potentially being transferred for work and have to decide what to do with my property. Based on what I'm seeing number wise I'm thinking of just letting the company handle the sale (all closing costs covered by them, going to negotiate buying costs as well) and moving on. Let me know if I may have overlooked something. 

Purchase Price 175000
Currently Value   186000
Equity   45600
   
Mortgage, Insurance, Taxes   1165
HOA   120
Maintenance 10% 145
Vacancies 10% 145
Management 7% 100
Tenant Placement 8% 121
Total Costs   1796
Rent Price   1450
Equity   200
   
Monthly Cash Flow -346
Yearly Cash Flow -4150
   
Monthly Cash + Equity -146
Yearly Cash + Equity -1750

Thanks for all comments in advance! 

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