All Forum Posts by: Jerry Thompson

I plan to do repairs (hopefully minor) and have a tenant by June/July.For the remainder of 2017 I plan to save all of my monthly profits to build a decent cushion for repairs/replacements ect.Then by 2018 I will switch to a more traditional way of distributing my monthly profit.

Oh, I just learned that this is an estate sale.Anyone have experience with estate sales.Are they more difficult?Does is require more risk?

Thanks again.

@Daniel  Yes, its actually on the westside of town.  Its a 3/1 and 1800sqf.  

@Alex I plan to manage the property myself.  

Hi Nick, and thank you for your response.I am actually investing in the Beaumont, Tx area.It’s a good area, and rentals usually generate $1,000.00 - $1,200.00 monthly.The property is in good shape.From what I see all it needs is paint and new carpeting. Of course, this is pre-inspection.

I actually got my figures from an online investment calculator.People we know in the area pay around $70 – 80 monthly for ins.

Thank you for your input

Hello Bigger Pockets,

I am a new investor looking start a new career in the real estate investment industry. I have a property (3br and 1 bath) in mind located in the Southeast Texas region.I am new to this so I want to make sure that this purchase is a profitable one and how it ranges from a great to bad purchase.I understand that the first year’s profit will be lower because of the cost to get the property ready.I put together some figures, and I would love to get your insight on the return on this investment.

Purchase Price:$70,000.00

Down:$14,000.00

Mort/Principal/Interest = $284.00/mo (30yr 4.5% rate)

Prop Taxes = $150.00 / mo

Insurance = $100.00 /mo

Repairs/Maint = $60.00 / mo

Tenant Turnover Cost = $160.00 mo

Total: =$754.00

Rent For Area:$1,100.00

Monthly Profit:$346.00

With all of this factored in, would this be a good investment?

Any insight would be much appreciated

Thank you