first deal pls advise
Hi
this is going to be my first deal - so hell nervous, any inputs highly appreciated.
planning to buy a 2 bedroom 2 bath condo - seller listed for $120k offered $100k and $3k closing costs.
would rent for $1000-$1100.
Southern ca is not so great in cash flow, however this will cash flow me up to $100 per month.
piti $550
hoa $250
rep & vacany $100
Is this deal worth? Should I be looking into SFR however, SFR in the area go upto $200-$250k and rent would be $1300-$1500.
I m not anticipating any appreciation, plainly cash flow.