Would you pull the trigger on this rental property?
There are fewer short sale or foreclosure in the market right now so I am thinking to buy move-in ready investment properties directly with 25% down payment and 30-year fix mortgage
If down payment and fees all together are $100,000, monthly expense total is $1900, monthly rent is $2700, turn-key new construction. Would you buy this property?
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Joe Villeneuve
#5 All Forums Contributor
Pro Member
#5 All Forums Contributor
- Plymouth, MI
NO. Not with those terms. You would be negative for over 10 years. I would like to have it less than 2,,,and closer to 1.
What would the CF be if you only put 20% down? Probably negative. That means the only thing you're doing with a higher DP is paying for all that negative CF upfront.