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190
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Patrick Shawn Faherty
  • Fredericksburg, VA
64
Votes |
190
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Am I too picky (Turn-key house wanted)?

Patrick Shawn Faherty
  • Fredericksburg, VA
Posted

I'm currently in the market for a turn key property--my first investment property (I'm 52 and have owned several personal residences). I've engaged with several TK providers in multiple markets.  I just can't seem to find a property that meets my numbers. I'm searching for a SFR in an A to B- neighborhood in the less than $150k price range. The numbers I'm looking for are ~10-12% CoCROI and ~$280+/month cashflow after all actual and estimated expenses/reserves. I'm plugging the numbers into the BP rental calculator using 7% for vacancy, 7% for maintenance, and 10% for PM. Is that too much to ask? I see a lot of properties that are being sold but none seem to meet these marks. Am I in the analysis-paralysis phase?? Do I need to lower my expectation (and be more realistic)?

Thanks in advance for your advice. 

Shawn

Most Popular Reply

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2,283
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1,102
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Charlie Fitzgerald
  • Lender
  • Las Vegas, NV
1,102
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2,283
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Charlie Fitzgerald
  • Lender
  • Las Vegas, NV
Replied

Yes.

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