Rental property Analysis - Deal or no Deal

[Hector Perez]

Hello,

I have a lead that came today from La Porte , TX close to Houston, and before I go to meeting, I would like to know if this could be a deal or not to wholesale

Sale Price to investor: $67,000

Repairs $3,000

Rental estimate: $1,000

No HOA

Annual Taxes + Insurance = $2,300

House built in 1940, 3 BE, 1BA

I appreciate your comments

[Eric Tait]

I agree with Sharon,

La Porte is on the east side of metro Houston, not a lot of price appreciation to be expected out there.

I personally buy at $40-50 sq ft. or less and plan to put $10-20 sq ft. in based upon the year it was built for buy and hold rental.

There needs to be more meat on the bone for a serious investor knowing that a 1940's build is going to have fairly high maintenance/rehab costs, and only 1 bathroom.