Go or No Go? Buy and hold opportunity
Wanted to get some community input on a property that I'm considering. Here are the details and projections:
2,000 sqft townhouse, 3 bed, 2.5 bath
Purchase price of $225k, financing with a loan (I'll have roughly $50k cash invested after closing costs and minor repairs)
Monthly rent of $2k should bring a net cash flow of $280/month with returns as shown below.
I hear all the time that you shouldn't try to hit a home run on every deal. Sometimes it more important to get in the game. In this market, it seems good just to have a positive cash flow at all. Any input from more seasoned investors is appreciated. I have one rental now. I'm not sure how good townhouses are overall for appreciation. It seems like the hoa can cover a lot of the capex that you might get with a single family. I'm still on the fence on this one right now.