Horizon City/El Paso Texas

[Giovanny Garcia]

Investment Info:

Single-family residence buy & hold investment in El Paso.

Purchase price: $177,000
Cash invested: $20,000

My very first real estate purchase. This is a 4/2.5 SFR in Horizon City, Texas which is often just roped into El Paso, Texas.

What made you interested in investing in this type of deal?

I did not purchase this with the investors mindset, I simply thought it was a better alternative then to rent.

How did you find this deal and how did you negotiate it?

This was in a growing part of town that had multiple developers in the area and this one caught my eye.

How did you finance this deal?

VA Loan

How did you add value to the deal?

Backyard and Front yard Zero-Scape
Concrete stain in both the Garage and Patio

[Eduardo Sanabria]

Giovanny, I have a couple of questions, if you don't mind. For a Buy and Hold, 177K is a little high price for El Paso area. Following the 10% rule (mtg is around 10% of the price), your mtg payment should be around $1500K/Mo. First of all, in an area where the median income is $35-40K yearly, houses of more than $1200/mo. rent are harder to rent. So I am curious, can you share some more details, for example, how much is your mtg. payment, how much did you rent it for and how long did the property stay in the market before you rented it? I am from here, and fairly knowledgeable, but my assumptions about the area my be wrong. Thank you. Eduardo.