Looking at a townhouse for a first rental deal
Hey guys,
I just need to make the jump into the water. I've been studying and listening to podcasts for the past 2 years now and I just need to dive in.
Listing is 200k Townhouse(divorce sale) and comps in the area range from 190-330k. Rents are around 1650-2k monthly and HOA fees are 125 in the neighborhood. The neighborhood is constantly filled with military family and turnover is frequent.
I planned on putting 5% with a 30yr and hope to get 1750 rent(Tenant pays utilities)
Should I jump on this deal? Should I make a low offer? am I missing some pieces to analyze?