Deal Analysis in Columbus Ohio_First Purchase

[Nima Fatemi]

Hi everyone,

First post on BP so that's very exiciting :)

I'm looking to buy my first primary property in the Columbus OH area (budget of $100K). Thing is, this property may become a rental down the line in a year or two so before I buy, I wanted to make sure I'm getting a good cash-flowing property as well.

I've read a few books and listened to numerous BP podcasts and wanted to get some opinions on this property -- if I do move out, wil this cashflow?

Based on my math, this property will break even at ~$1K rent after everything (vacancy, HOA, maintenance, P&I, CAPEX, etc.).

Am I thinking about this process in the right way? And for those in Columbus, would this property been a good primary residence to rental convert?

Thanks so much everyone!!

[Benjamin Reemsnyder]

Nimi, Aside from the rents, something to keep in mind when looking at condos for future rental property is to review the Condo Bylaws. They may not allow you to turn it into a rental. If you need help locating a property in the Columbus area, I would be more than happy to help as I am a local real estate agent.

Benjamin Reemsnyder, REALTOR
Carleton Realty, LLC.