All Forum Posts by: Chris Lockwood

Thank you @Sastry Srini! Sent you a dm for contact info! 

Quote from @Sastry Srini

Hello BP Community, 

I currently own 5 rentals in the Spring/Conroe area and am looking to shop 4 of them for property managers...the 5th property to also be managed in November. 

I did some research on the forums but felt an updated search for this specific area for Spring/Conroe would be helpful for myself and hopefully other local community members. 

Can anyone recommend any productive and proactive managers around this area for 5 SFH rentals? Need to handle leasing updating homes to move ready and move in and out as well. Thank you all for your suggestions and support for a community member!

Carla, 

Thanks for your response. I have considered MF but feel that the cap rates in MF currently are lower than what SFR can provide. I also would want to own the investment outright and not have partners. If I am dealing with an LP/GP scenario it will be on a value add investment, not an income property.

I just put a 203k offer on a SFR lease that is already rented for the next 10 months at 1525. Turnkey 3/2 built in 2005 in Spring, TX. Nurse is renting. Although its not a high cashflow (similar to 125 a month) next year I believe Renting it for 1650 should be easy as 1525 is a little lower. What are your thoughts on that!?

Hi All!

I recently jumped on the SFR train and have since acquired my first rental and looking at a second rental. This rental happens to be located in Spring, TX East of I-45 near The Woodlands, TX. I have provided a brief review of the numbers below to represent a 4CAP. Please note I have decided to remove management fees and leasing fees as I may try to do that myself. If not, I can hire a realtor for 1 month rent to lease out (2k is what I am hoping to receive/month).

 This is located half mile away from a house I own (my mother lives in it) as well as my first rental so this would be my third purchase within the area. I am hoping that it can generate good cash flow as Spring, TX seems to be a renters market and being close to Exxon HQ and Woodlands. I understand this wont cashflow too much at first (perhaps 100-250 first year) but am curious if this is a good idea for a growth and income approach hoping that this location can make up for the higher price point and lower cash flow for greater price appreciation. Since its also located near my other homes I like the approach but...IS THIS WORTH IT? Would love yalls opinions after looking at the math as I still am not too saavy on underwriting the deal in comparison to other TX projects. 

THANK YOU EVERYONE FOR YOUR QUICK ADVICE AND FEEDBACK!

Calculated Results

Annual Profit & Loss

Rent?$24,000

Vacancy$1,972

Net Rent $22,027

Taxes$7,046

Insurance$1,600

Repairs & Maintenance-$1,321

Property Management? $0

Leasing Fees-$0

Total Expenses? $9,968

Net Operating Income (NOI)-$12,058

Cap Rate-4.96%

Financed Returns

Interest Payment-$8,198

Return After Interest-$3,900

Investment Amount (down payment)-$48,600

Financed Return (ROI)-8.02%

Principal Paydown-$3,277

Net Cash Flow-$622

Cash on Cash Return-1.28%

After Tax Returns

Depreciation-6,185

Taxable Income-$-2,326

Income Taxes-$-930

After Tax Return-$4,830

After Tax Return %-9.94%

After Tax Cash Flow-$1,552

Cash on Cash after Tax 3.20%

Hi Everyone!
Long time listener...first time caller. First post here!

I

recently purchased my first rental in houston and am looking at another

one as well. I own my mothers house, have a rental down the road and

another 3/2 SFR with a tenant paying 1650 a month is up for sale for

200k asking.

Taxes are about 4400 lets say. Flood Insurance

700ish and Insurance is about 1000, HOA is about 400 a year. Lets say a

purchase at 208k with 20% down.

This would be my third property in a half mile range. I like this area near the woodlands, TX. Close to 45.

What

I am curious about is if this is an attractive spread for cash flow vs

other SFR around this area. Im expecting to receive about 3000k a year

(250 a month) on top of having a maintence fund of about 1500 a year.

Is

this a normal amount to receive, not worth the investment, better

opportunities in similar areas for cheaper or more income amounts?

Thought I would ask and thank you for your help as this is my first

post!

Hi Everyone!
Long time listener...first time caller. First post here!

I recently purchased my first rental in houston and am looking at another one as well. I own my mothers house, have a rental down the road and another 3/2 SFR with a tenant paying 1650 a month is up for sale for 200k asking.

Taxes are about 4400 lets say. Flood Insurance 700ish and Insurance is about 1000, HOA is about 400 a year. Lets say a purchase at 208k with 20% down.

This would be my third property in a half mile range. I like this area near the woodlands, TX. Close to 45.

What I am curious about is if this is an attractive spread for cash flow vs other SFR around this area. Im expecting to receive about 3000k a year (250 a month) on top of having a maintence fund of about 1500 a year.

Is this a normal amount to receive, not worth the investment, better opportunities in similar areas for cheaper or more income amounts? Thought I would ask and thank you for your help as this is my first post!