houston-house-for-saleAre you looking for the turnkey investment property of your dreams? You know – the kind of property that starts making money for you the moment you sign the papers. Ca-chink! Ca-chink! That’s the sound of more money in your piggy bank, each hour and day of the month. Ah, turnkey bliss. Yes – it is possible. The two key factors for achieving turnkey bliss?1. Location. 2. Actual Property….

Today’s What’s Available Wednesday takes us out of Philly (for the moment) to remember how great we think Houston is. The city is full of amazing deals (although these deals are drying up as the market recovers more and more – always a good thing) and amazing long-term rental protection. If you’re looking to create real retirement funding or a trust for your kids to one day enjoy in your name, today’s property is just the kind of unit that can help you realize your turn key dreams. Let’s take a look!
P.S: to sweeten the already sweet pot, this one comes with a one year rental guarantee and a one year work guarantee!

Location: Houston, TX. Built In: 2006 (fully renovated, tenant in place as condition of closing)

Purchase price: $125,00 (not a foreclosure, normal sale)

Property info: 4 bedroom, 2.5 bathroom, 2,361 square feet

Income

Monthly rent collected: $1,350

Expenses

Monthly expenses

Property taxes: $253

Insurance: $70

Property management fees: $42

Monthly expenses (conservatively estimated)

Vacancy (7%): $95

Repairs (5%): $68

Total Monthly Expenses- $600

Net Income = Income – Expenses = $750

Advanced Numbers

Cap Rate =7.2%

Cash-on-cash return =

Depends on your leveraging.

If you are interested in this property or seeing others like it, contact Melissa at melissa@hipsterinvestments.com.

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