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Hi, I need help from people who know about rentals in the Central Valley. My situation is this: I own a rental house in Texas & my tenant wants to purchase it from me for $120k (I’m renting it for $1100 but nets me just over $600/mo -after Uncle Sam’s share, mgmt fees, other taxes etc). I’m considering selling it and replacing it with one on the Central Valley (Santa Ana?). So in order to so I would need to find out a few things, like what would a $120k home rent for? what would I expect to pay in income tax generated from rental income, management fees, other taxes etc. I found out -thru this site – that property taxes in CR are way less than in Texas, but what about any other taxes/fees?
If I can get close to the same ROI I will definitely sell it since I’m moving to Costa Rica next year (hopefully sooner).
Any info from people who know this business will be greatly appreciated.
Thanks
RoyYou might find this article useful Roy:
Rental Properties and Sales Taxes In Costa Rica – When this tax should be collected?
At: [ https://www.welovecostarica.com/members/2327.cfm ]
Feel free to contact Randall Zamora for more detailed information …
Property management fees will vary but if you figure 10-15% into the equation for those fees, that should be about right…
Scott
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