Age of Property: New enough such that the property is less than 50 years old at time of future re-sale. Assuming a 30 year mortgage (that is not paid off early), that comes out to no older than a build date of 1989. Hard finding insurance for properties that are over 50 years of age (without a lot of extra work and hassel).
Tax Rate: 2.6 to 3.0
Location: Near professional employment centers. In a good school district.
I am looking to purchase rental property in the Clear Lake area. I found the house (per my guidelines above). But I have called four insurance companies - NONE of them are writing dwelling fire insurance on investment properties in Harris county. Any recommendations? I have looked at your listings, the insurance seems really low. How did you pull that off?
I would be interested in knowing the forum's opinion of what each person considers as a good investment property (quantitative variables only).
Price [range]
Rent
Rentability
Size
Tax Rate
Cap Rate
I have some for sale myself and I want to see if my supply 'fits the needs' of investors 'out there'...
Investment Properties
in Houston Real Estate
Posted
Price: 100K to 160K
Rent: 1% of sale price/month
Rentability: Must rent within 30 to 45 days
Size: 3-2-2; 1300 to 2000 sqft
Age of Property: New enough such that the property is less than 50 years old at time of future re-sale. Assuming a 30 year mortgage (that is not paid off early), that comes out to no older than a build date of 1989. Hard finding insurance for properties that are over 50 years of age (without a lot of extra work and hassel).
Tax Rate: 2.6 to 3.0
Location: Near professional employment centers. In a good school district.
I am looking to purchase rental property in the Clear Lake area. I found the house (per my guidelines above). But I have called four insurance companies - NONE of them are writing dwelling fire insurance on investment properties in Harris county. Any recommendations? I have looked at your listings, the insurance seems really low. How did you pull that off?