All Forum Posts by: Account Closed

@Kyle Fadness

I just wanted to give an update for everyone that helped out/anyone who stumbles across this thread in the future.

I took some of y'alls advice and went with a realtor to help get it rented out. Also, just as most people suggested, I lowered the rent to $1850 and got the place rented out within a few short weeks! I did disclose that I was the owner while showing (didn't really want to start of a hopefully years long relationship with a fib).

Anyways, the new tenets have been great and have no problems with the owner on property, they even help out a lot when I'm out out of town

Covid had me pretty stressed out back when I originally made this post, but now things finally seem to be falling in place! I'm thankful for everyone help on this, I didn't expect to get so many replies

No regrets jumping into REI and gonna ready to start the next deal soon!

$60 a month for PMI. It seems crazy high and thats why I'm really starting to question it. Thanks everyone!

Being my first post I didn't expect so many replies, thanks everyone I appreciate it a lot y'all are awesome! Most comments have been about the mortgage payment. I bought this before discovering BP but I wanted to dive in. I put 5% down and have a conventional 15 yr mortgage with a 3.375% rate at $1688 a month. TX property taxes are insane so my escrow is $847 a month. About $200 for insurance and $50 for HOA, rest is property tax. On top of that is $60 a month for PMI.

Houston, TX. I decided to jump in and buy a house and now I feel like I have backed myself into a corner. I bought a single family house with a detached apartment for $250,000. I'm living in the apartment and renting the house. I am struggling to find tenants because they are uncomfortable with the landlord living on site. The mortgage with taxes and insurance are $2550 a month. I can get $2000 a month for rent. I would estimate my rent by myself would be $1000 a month. I've only owned the property for 6 months and the mortgage is killing me. I don't know if its worth it to keep or if I should sell and move on l. Would love to hear some opinions from the community!