Analyzing properties & can't find cash flow
Hello,
I've been analyzing a ton of properties in Greenville, NC for LTR (hopefully to move into MTR) but I can't seem to find anything that will have a positive cash flow. Is that just the market right now or am I potentially doing my calculations wrong?
Can you share an example analysis you have run? There are of course cash flowing rentals to be had but the Greenville NC market you are looking at might just be harder than others. In today's market you are likely going to have to negotiate on purchase price and obtain seller credits to make a deal work. Properties that need renovations or have been on the market for a while will likely be owned by sellers that are willing to negotiate. It's not all about their list price, offer them the number that makes your rental deal work.
Hey Sarah,
That is just the market right now unfortunately. Not saying that you can't find ANY properties that will work, but there are a lot that will not meet CoC returns. The way to cashflow heavier right now is MTR or STR.
However, I think there is a great opportunity to buy distressed properties and build some equity via rehabbing that could help rather than just "Cashflow".
Keep looking!!
@Sarah Jordan - Without viewing your work it would be difficult to note anything. Whether or not a deal is penciling out could be a matter of location, strategy, and property type and size.
Hey Sarah, where are you getting your MTR comps? Or are you running the numbers as a long term rental?
@Travis Provin - here is the latest analysis I've ran: https://www.biggerpockets.com/analysis/rentals/c922503d-9442...
I'm trying to find something that will cash flow as LTR but will be aiming for MTR in the end.
@Mason Weiss - getting my MTR comps from MashVisor.