Is anyone buying right now?

[Hunter Janes]

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. 

[Chris Seveney]

Quote from @Hunter Janes:

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. 

NEVER assume best case scenario. What I mean by that is do not force an acquisition based no airbnb rates if it does not work as a long term renter. There are plenty of sad stories of people who did that and a lot more of those who are getting crushed right now and will not admit it.

You most likely will not find a deal on the MLS right now due to low inventory, your best bet is going to be off-market. Personally if I was getting started I would put the money in a 3 month CD, make some interest and find a market that I absolutely want to be in.Go visit that market, drive around, go to some REIA meetings and meetup with people and then see if you can find an off market deal.