First deal planning
I've recently sold my contracting business for 90k + 20 percent interest.
We own a house with 50k equity plus 20k cash. Im ready to get started on real estate invested. I wanna do long term rentals but I'm open to all options. Im aiming for cash flow in the first few deals. I've found a few houses for 85k that will cash flow after expenses and capx and vacancy 200 to 300 a month with conservative rent comps. Should I do these deals or wait for a homerun?
Most Popular Reply
$250 a month can disappear with one HVAC call. I wouldn't wait forever for a home run, but the deal needs some way to get better. Low rent you can raise, cheap rehab, extra bedroom, seller terms, something. Thin cash flow and no upside is just hope.