WOULD YOU BUY THIS PROPERTY IN THESE TIMES?
WHAT DO YOU THINK?
I have spent the last 6 months analyzing properties. I have recently come across a property that makes sense from a cash flow point of view. We are having inspections done in two days.
My question is, if it were you would you allow the current conditions of everything that is going on right now play a role in your decision making of purchasing a buy and hold investment (keeping in mind the cashflow works)? I will include some rounded numbers below for context as well.
Home Type: 3bd/1.5 bath Single family home w/studio (good location). I will live in studio and rent out the SFR.
- Purchase price: $275,000
- Interest rate (locked in): 3.125%
- PITI $1,800
- Rental income while living in one unit (based on rental survey of surrounding homes) ($1,600-1,700)
- Rental income after a year and moving out ($2,100-$2,200)
Thank you all.