First Rental Investment - Wichita Falls, TX

[John Humphrey]

Investment Info:

Single-family residence buy & hold investment (Section 8).

Purchase price: $100,000
Cash invested: $5,000 (downpament)

This would be my first investment property I'm looking to purchase in Wichita Falls, TX. It is a 3/1, the seller is willing to finance the deal at 8% interest for 30yrs. My monthly obligation would be $697.08 and Section 8 is paying $1,274/mo. I would also hire a property management for 10% since I would not be in the area to manage it myself.

I have around 20 of these that have the exact terms & might scoop up as well.

Is this a good/bad deal?

[Kyle Mccaw]

@John Humphrey I am an active investor in Wichita Falls. I would want to look at your rental comps with a fine tooth comb. The section 8 rate does not seem to line up with my experience. 3 bed 1 baths are very common in the area but do more much slower than a 3/1.5 or 3/2.

I don't understand your last comment. Do you own 20 of these already? Or you plan to purchase 20 properties with the numbers in Wichita Falls?