2nd Brrrrr under contract ! 👍🏾

[Maurice J.]

I finally have my 2nd rental under contract. Set a goal this year of 4 units and currently half way there.

Details: 3/2 single family.

Arv 135,000

Purchase 72K

Rehab budget 25K

Rents $1400

Thoughts ?

[Noel R.]

Originally posted by @Ben Unger:

@Maurice J. Congrats!

@Cameron Tope What are your assumptions behind the ~$200/month for capex? Also, is 16% around average for PM in Houston area? Seems higher than what I have seen in the forums.

Thanks!

If you run numbers including 1 months rent for lease up it comes out to greater than the 8-10% used regularly. 

Rent = $1400

PM at 10% + 1 month rent = ((1400*.1*12)+1400)/(1400*12)=18.3%