The ink is still wet on the M&E Living LLC paperwork. This is what happens when a realtor, Insurance agent, Property manager and a contractor(me) have an idea. Buy and manage coastal Texas rentals and provide living solutions to all while fixing up out little corner of a neighborhood and providing quality spaces for the short or long term renter!
While our local Austin market is out of reach, The Texas central coast offers affordability for a group like us to Buy, Rehab and rent in a strong rental market. Our range is from Corpus Christi to Port Lavaca. With all the industries and refineries in the area the rental market is very strong.
As stated above the four of us are itching to get this thing going and between us have the experience and knowledge to make a strong profitable business.
We are purchasing out first property in Corpus Christi this month and have a rehab budget of $25,000 for this particular property putting us all in at 115K. Rental comps in the near area range from 1550 to 2000/mo and sell comps are in the 165k range.
Our first year goal is six income producing properties each with a minimum cash ROI of 15%. Longer term goals include multi family and short term vacation rentals on the island in Port Aransas.
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