All Forum Posts by: Chinku Chinku

@Daniel Tanasa $1905 per month (mortgage +interest) , taxes (around 3600 per year) and insurance (1500 per year) => so 2330$ is my PITI

Got it, thanks@Drew Sygit

@Drew Sygit Trying to understand paying bank this loan rate is good idea or payoff principal early is a good idea. So eventually this negative cash flow property becomes cash flow positive and pays for itself including property taxes, hoa, mortgage etc.

Trying to calculate how bad is my investment here or should i sell out if there is appreciation

@Ernesto Garcia Thats right, i got investment property conventional loan at that rate for a new construction property. 

Got a townhome in suburb area of Houston for long term rental close to katy mills (<5miles). It took quite a good time (~6months) even with a property manager but finally found the renter after rent decrease by 200$. Learnt lesson not to fully depend on property manager and should have made decision faster by reducing rent . Currently started renting it for 2300$ per month , need your suggestion things I can do to fix my below situation. 
Trying to save $$ so I can prepare emergency funds in case of any major repairs etc . Understood I made a bad move here as this was first investment so didnt think much except at the location for longterm growth or possibly I move there as part relocation. If I have some cash do you recommend clearing the loan or invest instead for next property with proper planning ?  Thanks in advance

Down payment: ~90k (25% downpayment)

Rent per month: 2300 (5Bed, 4 Bath) with 2100sqft

Property management: ~150 (monthly)

Outstanding loan around : ~268k (7.675% APR) 30years fixed

Landlord Insurance: 1500$ (per year)

HOA: 1600$ (per year)

Keeping an eye on interest rates for refinance, so I can then move this property to an LLC instead. Need your guidance here if I should wait or just move it regardless sooner.