Updated over 5 years ago on . Most recent reply
Should I buy in a pandemic?
In process to buy my first rental before this virus caused major impact. Condo for 125k, basically turn key ($1k repair), a month ago could likely rent for $1400 giving me about 8% cash on cash return (after 5% repair & 5% vacancy) and monthly cash flow of $230. 25% down payment ($31k) is being paid with a cash out refinance on the equity in my primary. Great schools and rental area in Vernon Hills Il. Am I over leveraging on this deal that may not be good enough with the current unknowns in the market?