Updated over 5 years ago on . Most recent reply
First Rental Property
Looking into buying my first rental property. Does these numbers make sense?
Purchase Price $90K
Down payment 20%
Mortgage payments $702/mo.
HOA: 50/mo
Rent income: $1,500-$1,650.
Cash flow $798-$948
I might have to put 10K-15K in repairs (flooring, paint and some appliances). The ARV is $135,000 but I don't plan on selling this.
Thanks in advance!