Have you put this into the BP calculator?
I'd run it through one of the BP calculators or your own calcs. At first glance $1,300 rent to $63,000 purchase price passes the 1% and 2% rule so it would probably cash flow. I'm not sure what CCMUA is. Unsure if renter or owner is paying condo fees, CCMUA, other expenses/ utilities, if condo fees include property mgmt., etc. Depends on your mortgage options and opportunity cost of what you'd use that cash on if you kept it. A mortgage without PMI might be a good option.
CCMUA is water/sewer. I would be paying all expenses listed.
gross annual rent minus all expenses with equal and that income of $9620 with no mortgage
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing