First rental Property in a very good tech area in Atlanta
There is a property for sale that is in a very good technology area in Atlanta. The house on is a ranch plan and single family with no rental restrictions and it is a three bedroom house. I am putting down-payment of 95k on the house and the mortgage payment will be approximately $1300 and the rent would be $1800 per month. Giving me cash flow of $500 approximately. The house is in good condition and the appliances are good. Needs no work and everything is good. The house will appreciate in years. The houses in that area have been leased or rented in 30 days time.
Is this a good deal?
My kids are growing up and they need more of my time and cannot do other types of buying/auctions hacks etc