Updated about 5 years ago on . Most recent reply
What minimum monthly profit should I aim for on a rental property
I'm looking to buy a rental property and hopefully make monthly profit after the mortgage is paid. I know people that have rental properties where the tenant's rent only covers their mortgage and there is nothing left over. I don't want this to happen with me. I'm looking to get started in the Houston area.
Thank you.
Most Popular Reply
Depends on the market, but after taxes and repairs, at least $200. I allow 10% of rent for repairs and it usually averages out pretty close over the long term.