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Hunter Janes
  • New to Real Estate
  • Orlando, FL
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Is anyone buying right now?

Hunter Janes
  • New to Real Estate
  • Orlando, FL
Posted May 11 2023, 06:37

I am a new investor looking to get into the RE market. I am having a hard time finding properties where the numbers make sense. I am qualified for $250k for an investment property. I have found a few nice homes but the monthly cost on these homes is higher then what I am being told I can rent them for with a long term lease. For example, I found a 2/2 home for $250k, with 15% down and an interest rate of 7.62% the total monthly payment is around $1850. After speaking with my broker and realtor, they both informed me that I could rent this property for $1500-$1600 / month. With these numbers, this just does not seem to make sense to buy. I have had a few others homes that I have looked at with the same situation. I have considered doing airbnb for these properties as that would seem to be the only way I would have a chance at making my money back, or at least covering the cost. Is anyone else running into this situation? or should I approach things from a different angle. Any help/guidance is greatly appreciated. 

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