Are these good rentals?
Hi, I’m new to real estate investing in the rental world. My goal is to grow a rental portfolio as much as possible. I️ have found two potential townhome rentals in the same complex. I️ can pick them each up for $150k. I️ know they will rent for $1700 per month. I️ think they each need about $5k in upgrades prior to rental. They are located in central Phoenix. The HOA is high (about $400 per month) but I️t includes electricity and water. Also, the taxes are $600 annually.
My questions are...do these sound like profitable rentals?
Also, I️ want to put little to no actual cash down, anyone have any good strategies that would be good options in Phoenix (sellers are not willing to finance)??
Looking for any advice!!
Thanks!