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Updated over 4 years ago,
Cash flowing in out of state investing
Hello BP friends. I live in an expensive market and recently started exploring options investing out of state.
After running the numbers in several markets, I'm finding it difficult to find cash flowing properties almost anywhere?
Can you please let me know if I'm doing something wrong?
For example, let's look at Kansas City, MO.
https://www.redfin.com/MO/Gladstone/3441-NE-72nd-Ter-64119/home/78227438
Here's a SFH for 150k.
- Principal & Interest: $604
- Taxes: $114
- Insurance: $63
- Vacancy (8%): $100
- Maintenance/CapEx (10%): $125
- Management (10%): $125
Total Expenses: $1,131
Rent: $1250/mo (according to Rentometer)
Cash Flow: $119/mo
Other parts of KC, I am getting negative cash flow. Am I doing something wrong?