Facing newbie burnout - anyone finding deals?

[Zachary Floto]

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!