All Forum Posts by: Noni Trotter

Thanks for the cautionary words and for the encouragement. Despite my trepidation, I will proceed with the deal!

Thanks for responding and you raise good points that I myself have concerns about.

OK, So the Houston market is hot and the proximity of the condo to the highway and airport is a plus. This is a brand new condo with a target completion date of May 31. It has granite in the fully furnished kitchen and the bathrooms with modern paint colors, fixtures, and hardware. This is a 3-story condo that includes the 2 car covered garage below with common living space and bath on the middle floor and then 2 bedrooms on the top floor (1580 sq foot total).

The HoA is confirmed at 150 for at least 12 months but I know this may increase after. HoA will not allow short-term rentals. My ideal renter would be a young professional/s (DINK) in business, tech, or medicine. Rent comps for the condo complex were 1650-1800/mo for 2B  about one month ago. 

I don't have all the other details you asked about but I will do more research. 

Thanks again

Hi everyone, 

I need some help. I am in the process of purchasing my first real estate property which is a 2B2B2G condo about 12 minutes from the airport in Houston 77061. The purchase price is 202K (25%down), 150 HOA, monthly payments will be 1350, and hope to rent for 2K. Since this is a remote investment, I think hiring a property manager is a good idea. As the closing time for the loan approaches, I am getting anxious about the investment. I find myself asking if this really is a good deal? Will I get stuck?