Updated about 9 years ago on . Most recent reply
Taking the leap but.....low cash flow on rental
Hi, all. I'm looking to take the leap on my first single family rental but the market is tough in my area. After extensive shopping, I have it barried down to a small 2 bedroom house with a leaky basement (only when it rains ;). After analyzing the property it's only coming back with a 6.25% COC, and that's without the real estate percentage added on the back end. I really want to get into this house not only for the extra $125/month but also thought it would be a good little turn key 2bd to cut my teeth. I travel for a living so the less expensive fixer upper isn't appealing. Should I jump on the thin deal or be patient?