All Forum Posts by: Pedro Preciado
Pedro Preciado has started 6 posts and replied 19 times.
Post: 1st Investment Property in Amarillo, TX
- Norwalk, CA
- Posts 19
- Votes 2
@Blake C. Blake thanks for the advice, what would you consider a better deal Because I really don't think I'll find something under 44k. The only reason I'm trying to invest there is because I have the people that I've been referred to in that area. What other areas would you recommend to invest in? Thanks for your time.
Post: 1st Investment Property in Amarillo, TX
- Norwalk, CA
- Posts 19
- Votes 2
Thanks for your time, im currently on the Gables side, on Monroe St. Ive been talking to a property manager that I was recommended to in that area and he will be checking out the property tomorrow. He told me that his properties in that area usually rent out for 650. If I rent out at 650 a month I will be having a cash flow of 250 a month and I will be more than happy with that to start off.. Thank you
Post: 1st Investment Property in Amarillo, TX
- Norwalk, CA
- Posts 19
- Votes 2
yes the property is on Monroe. Am I paying over price? 44k? Should I have offered less? The house is currently vacant but my realtor and property manager have been checking out. Property has new windows and carpet. Thanks
Post: 1st Investment Property in Amarillo, TX
- Norwalk, CA
- Posts 19
- Votes 2
Hello,
I am currently under contract in a 2 bedroom 1 bath house for $44,000. This property is going to be a rental property, however, I just completed the home inspection and it seems like everything is wrong. The property is going to need a lot of electrical and plumbing work, in addition, some walls are bubbly so I will have to check for any leaks. Should I just call off this deal? I appreciate any advise or personal experience. Thanks
Originally posted by @Blake C.:
@Pedro Preciado Personally i feel like Amarillo is a good area for slow and consistent returns. We don't get high appreciation, but you can make a solid income off properties like this. At 650 a month, you are likely in a area thats not too much of a war zone. Do you know what neighborhood its in? Amarillo isn't too large of a town.
The property is by 46th Ave and Washington st. I'm not looking into making a lot of money from one day to another but as long as I keep a profitable income every month in happy.
Post: San Jose Meetup - Thursday 4/16/15
- Norwalk, CA
- Posts 19
- Votes 2
Hello, do you guys know where I could find a meet up like this but in the Los Angeles area. The bay area is too far for me, wish I could make it.
Thank you! Any recommendations for future investment properties? Are the taxes too high or what do you recommend?
The house is located in Amarillo, TX. It was built in the 1950's . Taxes are around 1020 and insurance 650 a year. The house is in good conditions with new windows and new carpet
HELLO, I'M BUYING MY FIRST INVESTMENT PROPERTY OUT IN TEXAS. I WANTED TO START SMALL SO I BOUGHT A 2 BEDROOM 1 BATH. I'M GETTING IT FOR 44,000 AND WILL BE PAYING AROUND $300 A MONTH FOR MORTGAGE WHICH EL INCLUDE TAX AND INSURANCE. I'VE BEEN TOLD THAT A HOUSE THAT SIZE USUALLY RENTS FOR 650. IS THIS A GOOD FIRST INVESTMENT TO START OFF? ANY RECOMMENDATIONS OR WORDS OF WISDOM? THANKS.