Texas Real Estate Q&A Discussion Forum
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 3 years ago on . Most recent reply
Quick Help on Underwriting SFR? First time- Looking for Advice!
Hi Everyone!
Long time listener...first time caller. First post here!
I recently purchased my first rental in houston and am looking at another one as well. I own my mothers house, have a rental down the road and another 3/2 SFR with a tenant paying 1650 a month is up for sale for 200k asking.
Taxes are about 4400 lets say. Flood Insurance 700ish and Insurance is about 1000, HOA is about 400 a year. Lets say a purchase at 208k with 20% down.
This would be my third property in a half mile range. I like this area near the woodlands, TX. Close to 45.
What I am curious about is if this is an attractive spread for cash flow vs other SFR around this area. Im expecting to receive about 3000k a year (250 a month) on top of having a maintence fund of about 1500 a year.
Is this a normal amount to receive, not worth the investment, better opportunities in similar areas for cheaper or more income amounts? Thought I would ask and thank you for your help as this is my first post!
Long time listener...first time caller. First post here!
I recently purchased my first rental in houston and am looking at another one as well. I own my mothers house, have a rental down the road and another 3/2 SFR with a tenant paying 1650 a month is up for sale for 200k asking.
Taxes are about 4400 lets say. Flood Insurance 700ish and Insurance is about 1000, HOA is about 400 a year. Lets say a purchase at 208k with 20% down.
This would be my third property in a half mile range. I like this area near the woodlands, TX. Close to 45.
What I am curious about is if this is an attractive spread for cash flow vs other SFR around this area. Im expecting to receive about 3000k a year (250 a month) on top of having a maintence fund of about 1500 a year.
Is this a normal amount to receive, not worth the investment, better opportunities in similar areas for cheaper or more income amounts? Thought I would ask and thank you for your help as this is my first post!