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Updated about 13 years ago, 12/28/2011
How much would you pay for this property?
I have a single family home I recently purchased and rehabbed. I was hoping a few investors would chime in on how much they would pay for this cash flow.
Details. Single family home in a town with 110,000 population (Texas town) Military base presence with a Public University. This two bedroom 1 bath house (720 sqft)is paid off using cash. I had new interior and exterior paint done, new carpet, and new roof installed.
I have a tentant in place for the last 3 months paying $658 a month rent.(section 8). I bought the house 4 months ago.
Taxes are $387 annual and I have USAA property insurance paying $473 annual. I have a property manager in place and pay them 10% of the rent.
I am wondering what I should sell this to another investor for. Or maybe create a note for someone to assume.
I am a new real estate investor and have 3 properties purchased recently.
Any advise is greatly appreciated.