Good RENTAL investment?

3 Replies

My offer was accepted to buy a 1000 sq foot ranch, with no basements or garage in a great rental market in metro Detroit.

Low end rent is $950

High end rent would be $1200

They agreed to an offer of 100k

We believed our Monthly cash return to be about $350 before our final mortgage and tax info came back.

We had some back luck on both ends....

We believed taxes would be about $2100 but it’s now $3200 And of course our interest rate jumped 1/4-1/2 percent.

So our low end cash would be about $200 a month. $150 per month swing.

Should we pull the trigger or get out?

Thanks guys!!!!!