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Updated almost 2 years ago,
Seeking Guidance on First Rental Property
Hey Everyone- Thank you in advance for any help/feedback/guidance you can provide. I am looking into purchasing a rental property in the college town where I currently live. (my first rental property) The property I am looking at is 2 blocks from one of the colleges has been completely rehabbed according to the listing (I have an appointment set up to go see it this week.) It currently has a renter in a contract for $1,300.00 a month until the end of the year. The asking price is $110,000. I would be using a DSCR loan with 25% down. It has been on the market for a little over 40 days. Would you consider this a good deal to pursue? If so, what type of advice can you provide?
Thank you-Kirby