All Forum Posts by: Kyle Sinclair

The property should bring in around $2000 (when looking at comps and getting a couple realators and property manager oppinions as well) a month and the mortgage is right at $1200. The house's value is about $210,000 which gives us right at about that 1% ROI . We are planning on holding it long-term, with no plans to sell in the next several years.

How does everyone feel about a refi to lower mortgage and increase the monthly cashflow? Or should I typically save refi's for cash outs. 

Kyle

We have thought about just selling it and investing the profits, but at the same time we are in a good position on this house, and renting it will give us an opportunity to increase our monthly cash flow. We can always refinance to leverage the equity and reinvest that. 

Again im pretty open to all of it, tonight should give me and opportunity to see what the property management company believes the value of the rental is, and for me to figure out if it's a good idea to go it on our own. I appreciate the advice. 

As far as schedule I work 12 hours a day 6 days a week. Would you mind elaborating why might not have a great experience with a managment company. 

I am definatley open to feed back. 

I was leaning towards a property management company because of the current time constraints with my job, and with the first unit I want to make sure everything is done correctly. 

We are also looking to buy another property in the area soon, and I feel with a management company I can learn from some of their experiences what can and cannot be a good rental property.

Hey everyone, 

It's my first post on Bigger Pockets! I have an owner occupied home in Carrollton, Texas (near Dallas) we paid 160,000 for it and its current value lies somwhere between 210,000 - 230,000 now. My wife and I have decided this is going to be our first rental property. In fact we have a meeting with a property management company tonight at 6:00 pm. Since owning the home we have a installed a new roof, and downstairs heating/cooling system, as well as repainted, fixed cracks.  Any words of wisdom moving forward? Or any burning questions I should ask of this management company? 

Thanks, 

Kyle 

Hey everyone, 

It's my first post on Bigger Pockets! I have an owner occupied home in Carrollton, Texas (near Dallas) we paid 160,000 for it and its current value lies somwhere between 210,000 - 230,000 now. My wife and I have decided this is going to be our first rental property. In fact we have a meeting with a property management company tonight at 6:00 pm. Since owning the home we have a installed a new roof, and downstairs heating/cooling system, as well as repainted, fixed cracks.  Any words of wisdom moving forward? Or any burning questions I should ask of this management company? 

Thanks, 

Kyle