Are there still positive cash flow deals??
For starters, this is my first BP post :)
I have been looking in the Greenville NC area and Eastern NC for an investment property that I would be renting out for LTR or MTRs. I have cash available for a down-payment and I am pre approved. I am not looking for a property that would need substantial work. Thus far I am finding
-Even with the current rates houses are moving very quickly off the market and they are going for the asking price.
-The average monthly rental income, even from higher MTR amounts, is producing at best a minimal positive cash flow and a very poor CoC.
It seems that housing prices in the current market (mortgage and monthly costs) are exceeding what the going monthly rental rates are in many areas which translates into unimpressive cash flow.
Am I missing something? Thoughts?