How to cashflow in this current market
Any property on mls in Tempe is 400k and above... even if you get a place for 300k and rent it out for $2100 a month it seems like a bad deal for cash flow. Is it just me or does it seem like properties are overpriced given current state of interest rates... even if I got a 300k house that needs 30k in repairs and then say refinance and I'm at $1800 payment on a 30 yr at 6.5% with $66k into the property. $2100 in rent and your still practically at break even cashflow. Just seems like a crappy return for fixing up a property and then renting it out. Am i missing something here?