$600 per month SFR in Katy, TX

[Thomas Brett Gilbert]

Investment Info:

Single-family residence buy & hold investment in Katy.

Purchase price: $261,000
Cash invested: $7,500

4/3.5 on a cul d sac in Katy, TX.

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

I originally built this house to live in, but the oil industry had other thoughts. I was transferred after less than a year in the property, and have rented it ever since.

How did you finance this deal?

Originally, conventional 15-year fixed. Refinanced to 30-year fixed.

How did you add value to the deal?

I am pretty handy, so I installed Acacia hardwood floors, re-did the landscaping, and upgraded the light fixtures.

Lessons learned? Challenges?

Having the "perfect" tenant for your first tenant may not be the best way to start your rental career.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No. Most of the agents that I have worked with are barely worth their signature.