I'm a member of Capital REI, which is run by @Roger Lin, @Justin Pierce, and @John Rubino.

I'm a member of Capital REI, which is run by @Roger Lin, @Justin Pierce, and @John Rubino.

I'm a member of Capital REI, which is run by @Roger Lin, @Justin Pierce, and @John Rubino.

Justin

Originally posted by @Justin Fox:If you have a tax return for the second home, that should suffice.  

Justin Wragg

Make sure you have a two year renewal option in your contract as well just in case.

I'll make a list of expenses I think I will encounter.Purchase - 65000Rent-  650Taxes monthly - 105Insurance monthly- 62Vacancy 5% - 32Repair 5% - 32Mortgage - 278All that puts me at 509 expenses versus 650 rent to be at 141 cash flow monthly.I have calculated the CoCR a couple different ways because I am certain that the house is rent ready now but I also figured it with some rehab expenses just in case I find something.141x12= 16921692/16000(down payment plus closing)= 10.5% CoCR1692/18000(down payment, closing, and 2k rehab) = 9.4%Like I said before 650 seems like the safe route for potential rent.

This isn't just in Houston this was huge in the UK they would be buying high rises buying them out leaving a lot of first time home buyers in the UK angry since they wouldn't be able to afford it

Sincerely,- Justin Porco