Buying new construction SFH for rentals.
I have been buying new construction Single Family 4/2/2 brick homes from a nationwide builder when they announce a Grand Opening. Example : I purchased two 4/2/2 19000sq ft, rents are $2800 /mo. Put down $10,000 refundable deposit and signed $330,000 purchase contract on February 1, 2021, closed on completed house April 1, 2022. ( same model in this subdivision on closing date is was selling for $430,000. Gonna lease it for $2800 per month for two years and then decide to sell it for $600,000 or raise the rent to $3200 and keep it two more years and see what the market guides me to do. I have done similar scenarios multiple times over the years. This plan seems to be a better use of my time than fix and flip. No unexpected surprise costs or hard work on my part. As a matter of fact, I purchased the last one in Hilton Head from my home in Texas with my cell phone. Docusign and wire transfer. I'd love to hear your thoughts.