All Forum Posts by: Mike Peel

Thanks everyone for your replies! @David Thompson that would be great to obtain your RE attorney information to have just in the case for anything in the future

Would like recommendation for a real estate attorney in Texas (Houston is where I live but can do anything over email). I would like the attorney to review my lease agreement and to have for any tenant/landlord disputes I may have in the future. Thanks!

Evening everyone, I am currently in the process and renting out my first rental property and would like any recommendations for a Texas lawyer to review my lease agreement for a property here in Houston.

Do you typical include washer and dryer for renters? Also what is everyone's thoughts on providing a dishwasher?

Thanks for all the input! The home is being built now and will be move in ready in August. It is north of the heights to the west of 45. No HOA fees and for comparable rent for 3bedroom in the area has been around $900-$1300.

Morning everyone! I am looking into a turnkey 3/2 SF Home (1440sqft) with a detached studio garage apartment(400sq ft) in Houston. Below is what I compiled. Is there anything I am missing? Anyone have comments on the deal? Anything I calculated wrong? This will be my first real estate investment. House Purchase Price 121,351 20% down for loan 24270.20 Mortgage Balance 97080.8 Mortgage % 4.5% Term (years) 30 Mortgage Payment $491.89 Tax Payment $ 272.73 Home Insurance. $83.33 Total Fixed Cost $ 847.96 Estimated Repairs 120 Total Fixed/Variable Cost $ 967.99 Potential Rent 1800 (1200 sfh, 600 studio) Vacancy Rate (10%) 120 Net Income $1,680.00 NOI $14,447.19 Cash Flow $8,544.46 Cap Rate 11.91%

Morning everyone! I am looking into a 3/2 SF Home with a detached studio garage apartment. Has anyone ever dealt with renting out such a property to two tenants at one time?

Thanks everyone! I will definitely look into all the information that you have given me.

Morning Everyone!

My name is Mike Peel and I am new to Bigger Pockets. I currently live in Houston, TX (Heights) and plan to start investing in real estate with my brother while maintaining my full time job. We have been looking at numerous properties/land but wanted to gain more knowledge before hammering down the nail into the long term rental business (currently 26 years old). I am excited to read and learn from the numerous posts and life experience of fellow real estate investors so I can better prepare myself for this venture.

I do want to ask a question to see the opinon of others. We are currently playing with the thought of purchasing land and building 4 corner, low maintenance single family rental homes for rent. Does anyone have luck with build to rent homes or is there more success in purchasing used homes (HUD etc)?

Thanks for any advice!