Realistic Capital Needs for SFH Rental
I know that every deal is different and that the answer is “it depends” but whats a realistic level of funds to have before committing to the process? The plan is to buy a single family home and focus on cash flow. I want to enter but not jump into the whole mess of mass renovation right now. Could i get a sense of what different funds are appropriate?
ex: if you have 20,000, you can go for a 100k and below property, accounting for offer, closing, fees for inspections, reserves for safety, and some for minor renovation
Or if you have 40,000, you can go for sub 200k
I believe with my income, current cash (checking, savings, brokerage, retirement), and credit score i could qualify for 250-300k home.