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Updated over 1 year ago on . Most recent reply
![Zachary Floto's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2666515/1697229953-avatar-zacharyf126.jpg?twic=v1/output=image/crop=1584x1584@0x1/cover=128x128&v=2)
Facing newbie burnout - anyone finding deals?
Hey everyone! I’m a new investor, I’ve soaked up as much as I can from books and podcasts and this website and was finally ready to invest. I’m new to Atlanta and decided to go with a rental property as my first investment. But after months of working with multiple agents and analyzing literally hundreds of deals, nothing seems to get close to cash flowing. And after no success in this market with these high interest rates, I’m quickly feeling burnout. I’m curious if anyone out there is making deals on rental properties that come close to cash flowing and have any numbers to give as an example.
Right now I’m using these numbers and being as generous as I can with the estimates I get from BP: 25% down, 7.75% interest rate, 5% maintenance, 3% vacancy, 5% cap ex, 7% management.
Every realtor seems to keep saying now is the time to buy but they all push towards house hacking as that doesn’t need to produce cash flow and so they can market it as a good deal. Unfortunately that’s not an option for me right now.
So the big question is, other than house hacking or “just searching harder outside the box” is anyone finding it possible to buy a rental property in todays market? Thanks in advance for the answers and advice!
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![Scott E.'s profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/65610/1673966752-avatar-scottedward.jpg?twic=v1/output=image/crop=1080x1080@0x0/cover=128x128&v=2)
Right now it's tough finding a deal that cash flows because rates are too high. But 18 months ago it was tough finding a deal that cash flowed because prices were too high.
The hardest part about this business is finding a deal. That is whether you are a house flipper, a wholesaler, a long term rental investor, a short term rental investor, a commercial developer, etc. The hardest part is finding a deal.
You're feeling a bit discouraged and burnt out. That's normal, and that's a good thing. You need to condition yourself to deal with rejection. Accept that if you look at 300 deals, you will probably only find a few that you can make an offer on.
Also remember to not fixate too much on their asking price. If you find a property that you want to buy but they are asking too much for it... just offer what you can afford to pay. You'll get turned down a LOT. You'll get countered some. And every once in a while, you'll get an offer accepted.