Comparing cashflow in Michigan and Florida
Helloooo Bigger Pockets! I hope I am posting my question in the right place. Have done some reading and haven't quite found the answer. I am not sure there is one answer but rather perspectives on this question.
I have found two properties in two different cities we are looking at investing in: Detroit and Jacksonville. The Detroit property costs $55,000 and the Jacksonville $100,000. Both have very similar monthly cashflows.
On the surface it would be obvious that I am spending twice as much for the Jacksonville property to get the same monthly cashflow. So my question is, what other factors would investors want to be strong in order to purchase the more expensive property?
Looking forward to discussing this with you!
Most Popular Reply
What are your "valuation documents?" This is not the appraisal is it?
Anyway if you are buying with a mortgage I would certainly adjust my offer to account for the lower appraisal. And yes, you can offer 88k on a 104k list. The seller may not accept but it's not out of the ordinary and shouldnt be insulting.