Condo - Buy and Hold

[Ling Tong]

Investment Info:

Condo buy & hold investment.

Purchase price: $118,000
Cash invested: $118,000

This is the first property I bought. I have lived in this condo as a primary residence. When I move out of Wisconsin, I chose to rent it to a tenant, instead of selling the property. The condo is currently rented for $1200 a month. Cash flow is $720, and Cap Rate is 6.2%, and the home value is still growing.

[Rene Hosman]

Quote from @Ling Tong:

Quote from @Rene Hosman:

Wow $750/mo cashflow for a property that was only $118k that's incredible! What year did you purchase this property?

 I bought the property in 2022 March! Back at that time it was already a hot market, I was able to get this property with a full cash offer. Right now the estimated value is $150k, an 27% value increase in 2 years!

 That's a great return on all fronts! I always hear that property taxes in TX are killer, but if it's a condo does that make them not as insane? I have a place in Denver CO and my property taxes are around $1200 per year for about 900sq/ft