Updated almost 8 years ago on . Most recent reply
Out of State Deal Analysis Advice
Looking at Charlotte as my first out of state rental property. I am looking at a deal and need some help analyzing it.
Property Type: Townhome
Listing Price: 200k
Thinking of putting in an offer at $180k based on my own analysis.
Average Rent in area: 1600/month
HOA: $270
Property Tax: $175/month
Insurance: 45/month
Financing: 30 year fixed
That would put me at rough $400 positive cash flow. This will not include management fee if I choose to employ a PM company. Nor does it include the water, sewage, and garbage fees.
With all those I expect to I will have $200 positive cash flow. Looking to get some feedback on this as I am still in the process of learning and do not want to make a mistake if I can prevent it.
Thanks in advance.
Most Popular Reply
I'm not professional but it seems like it is not a good deal my analysis has you loosing money. It meet the 1% rule of thumb or the 50% rule either.