All Forum Posts by: Rachel Adeoye

Hi,

I recently found a deal in the Magnolia Park area of East Houston TX. Based on a report, this is the info I could muster....

-Multifamily: 3 units

-Sale price = $140,000

-NOI = $1700/month

-Est. mortgage at 3.4% interest rate = $500

-Property tax in 2015 = $1,810

-Tenants are good (supposedly)

HOWEVER the surrounding schools show very low rankings and test scores.

Assuming there are no added expenses (which I doubt), the cashflow is looking like $1,049 (feel free to correct me if I'm wrong)

Is this a good or bad deal?

Hi,

My name is Rachel. I am a senior at the University of Texas at Austin, planning on pursuing a career in medicine. I live in Austin, TX, but my hometown is Houston. I am pretty new to the site and the investing world. So I am super eager to be a sponge and learn all I can. As young as I am, this site, the podcasts, and books have really opened my eyes to the possibilities investing has to offer and I am excited to get started.

My goals:

-Gain as much knowledge as I can in the next few months - 1 year

-Create meaningful relationships on BP

-Niche is multi-family (2-5 units) in the Houston area

-My whys: help my parents retire comfortably, give back to my local community, and financial freedom