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Updated over 4 years ago on . Most recent reply

SHOULD I BUY A PROPERTY FOR JUST CASH FLOW?
I'm working on buying this property that the seller is wanting to walk away with 70k. The comps are saying around 63-80 in that area. But I think the property is over priced. But the cash flow is like 427 a month, this is a turnkey and i have section 8 in the pic for back up. Any advise is welcome. Thanks.
Most Popular Reply

Rob,
I think this is ultimately up to you. There are many out there who invest for cashflow with no expectation of their properties appreciating much over time. Think out 10-15 years from now and where that property will be in terms of cash flow, appreciation, paydown and all that good stuff. Do you think it would be worth it for your goals and investment strategy?
Also, maybe I am wrong but $427 does not seem like a good return for a $70k property. What COC return were you coming up with?