All Forum Posts by: Harika Tumula
Harika Tumula has started 1 posts and replied 3 times.
Post: Your thoughts on buying a townhouse in Greenville, SC
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Quote from @Brandon Jones:
Hey Harika,
Are you buying it as a primary home and then looking to rent it out after a year or so? Or are you buying it as investment property? Key things to keep in mind with your numbers are:
Rent should be > PITI (principal, interest, taxes, & insurance) + maintenance + vacancy + capex + property management fee.
Usually your reserves for those categories will range from 25-30%, although maintenance & capex should initially be minimal since the home is new.
Hi Brandon,
Thanks for the reply!
No, we are buying it as an investment property. And yes, we are crunching the numbers to see if our cash flow is positive or at least break even to consider the purchase. Since, it's a new property maintenance is quite low and wondering if relying on Equity and Appreciation of the house over long term is right way to go?
Post: Your thoughts on buying a townhouse in Greenville, SC
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- Votes 0
Quote from @Nicholas L.:
how much would you put down? only you can determine what the right investment is for you, but with rent at $1700, you'd likely be cash flow negative each month.
Hello Nicholas,
Thanks for your replay!
We are trying to put down 20%(50k) and yes you are right, with the current interest rates it would be either break even or Negative cash flow. But the real question is given the growth rate of the Greenville, SC is it ok to rely on Equity on appreciation of house for the long term?
Post: Your thoughts on buying a townhouse in Greenville, SC
- Posts 3
- Votes 0
Hello everyone, I'm new here.
I need your inputs and advice on a deal. Also, I'm looking for a lender, property manager and realtor in Greenville SC.
So I'm interested in buying a townhouse in Greenville SC. House is brand new and will be ready by dec 2024. It costs around
260k. I want to buy and rent it @1700/month. Is it a good investment? What do you think?
Appreciate your time.