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Updated about 6 years ago,
Would like to hear your opntion about my small portfolio!
Hi all, Newbie here and not even sure if this is the correct place to post so please forgive me if not.
I would love to hear what you have to say about my tiny portfolio. I suspect that I know what I did wrong but would love to hear it from the pros and hopefully take notes and grow. Thanks!
All properties are paid for so no mortgage is included in the number below plus all expenses are fixed monthly expenses NOT including vacancy, realtor fees and major expenses. (All have recently updated - 2 years - major appliances, AC units, Heaters, etc)
Only Tax, Insurance, HOA fees, water are included below.
Current market value estimates are based on Chase home value est and recent comps from realtors/redfine/ recent sales in the same complex.
All 3 apts are well maintained with great tenants and have been worked on to the T so unless something really crazy happens I do not anticipate major expenses in the next say 3 to 5 years.
Where it says full reno it includes shower and kitchen and new floors and everything.
Monthly breakdowns;
- Brooklyn NYC - 400sqft Studio in Zip 11206
Purchase price 2013 - $170k (plus $20k Full reno Includes new inwall ac + new Lochinvar tank-less gas water heater install)
Current market value est; around $300k (2 mins walk to subway and 10 minutes from Williamsburg)
Rental income: $1600
Expenses: $295 (25 year tax abatement and very low hoa)
2. Roseville MI Zip 48066
2bd 1ba 770 sqft with small porch and 2 parking spaces
Purchase Price - $34k -2015 (plus $5k in reno Includes brand new appliances + new hot water tank)
Current market value est; $50k
Rental income: $750
Expenses: $350
3. Houston TX Zip 77058
2bd 2ba 1008 sqft with small porch and 2 parking spaces
Purchase Price - $65k 2017 (plus $25k in full reno Includes brand new appliances + brand new split ac system)
Current market value est; $90K- $110K
Rental income: $1100
Expenses: $708 (Includes Hurricane Insurance)
Thank you all in advance.