Updated over 6 years ago on . Most recent reply
Analyzing my first Deal, Seeking Advice
I will try my best to be short and concise.
Available capital: $40k
Condo(s) I am considering: $30-60k
Estimated CF: 450/month, 5400/year
ROI: ~8-12%, depends on which condo specifically
They're all 1 or 2 bed, 1 baths.
Minimal work needed in units, I can do majority myself, but have two contractor friends .willing to help me out if plumbing/electrical is needed outside the basic stuff.
My money is currently invested and has only averaged about 4% the past 5 years, this past year having been down about .5%.
Would love to hear any thoughts on this scenario, i am in no rush to make my first Deal, but i would certainly rather have my money be better invested where I could actually see some returns (even the lower estimated 8% ROI sounds nice).
Most Popular Reply
Did you include all of your expenses? Property tax, HOA, insurance, repairs, vacancy etc.? Because that seems like a ton of cash flow for a condo in that price range. I'm not sure where you are so I can't speak to what those units might rent for.