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Updated over 7 years ago,
Austin Property - Make sense to rent?
We are looking at pricing our first rental around 2200 to 2500. Our mortgage is a little under 2k a month. Considering a property manager and they want to take around 70% of the first month rent plus 7% a month ongoing. Unknown issues that pop up throughout the year will cost money. Home insurance $88 a month + unknown property tax increases. What monthly unknown costs should I factor in? Does this look like a property that would make more sense to just sell? Will Austin prices continue to rise or are we peaking? I'm not trying to make money on this property just not lose a ton. Thanks!
$2500 take home $2106
$2400 take home $2018
$2300 take home $1931
$2200 take home $1843