Updated over 11 years ago on . Most recent reply
Analysis help of current rentals
Hey. Have been lurking BP for a while now and never posted anything. I am uneasy that I am doing something wrong so I would like others opinions and feedback. I purchased 1 house owner occupied, and 1 1/2 years later, purchased a 2nd owner occupied and rented the first. both houses are in Round Rock, TX using 5% down conventional loans with PMI prepaid. Being new to the rental game, I was unsure of vacancy and future repair costs so I went with the standard 10%.
Renal House 1
Purchase Price: 125000
Repair: 5000
Current Value: 150000
Monthly Rent: 1325
Vacancy: 130
Repairs/Capex: 150
Management: Self
PITI: 925
Total Net: 120
Rental House 2 - Renting rooms
Purchase Price: 145000
Repair: 10000
Monthly Rent: 1600
Vacancy: 160
Repairs/Capax: 160
Management: Self
PITI: 1000
Total Net: 280