All Forum Posts by: Manzur Y.

@Sharon Tzib $120 per month ..

@James Wise Well, during inspection we found some issues, and we negotiated with the seller so that she would pay for those directly to the contractor doing the work. My PM supervised all work ..

So no, I did not have to spend anything on it yet. Rents for $1000 even.

@James Wise Here is one of my property @ Fort Worth, TX purchased for ~$62K, ~1600 sq. ft , 3 beds 2 baths, community swimming pool and all outside maintenance done by HOA. Did not provide that many snapshots but you get the idea.

I would like to thank everybody for their invaluable suggestion, specially James Wise for providing the "good" zip codes.

I am waiting for WF to approve my HELOC and I would really like to buy some in Katy or Conroe or Texas City. While waiting for their unusually l-e-n-g-t-h-y process (and their proud claim that they close in only 50 days :() to wrap up, I was wondering if I should pick up something in Cleveland, but I agree I have to do a lot of due diligence.

@James Wise Thanks for your feedback .. How is the 44102 zip code (near 81st st)? Is it a rundown area where vandalism is rampant or not bad ..

Most population have an income less than $35K it looks like ..

Hello,

Property prices are very cheap, for example you can get older duplexes having a monthly rent of ~$800 in the Cleveland, OH area. The houses are old, but ~$20K.

What do you guys think? Does it make sense to get it for the cash flow? These are probably not going to appreciate, but if the purchase price is so low, what have you got to loose?

Am I missing something here guys? Please chime in ..

@Cory Dean Hello, please look at Arlington, or Dalworthington gardens area where property prices are still cheap, and rents are good.

This particular combination has given me the fastest time to pay off my multiple properties I got over there ..

Let me know if you have any questions .. Good luck!

Rent per month will be $1300-$1350 ..

This is for a buy and hold rental. I am trying to compare this to buying preowned homes, may be get 2 at this price.

ROI wise the latter sounds better to me. The advantage with the new one is no repairs for several years, but I cannot justify the significantly higher cost of the new home.

Am I way off on my analysis or what?

For a 1300 sq.ft new house in Conroe, TX, is $130K a reasonable price?

Please let me know what you think? It is a 3 bed, 2 bath and 2 car garage property.

Thanks,