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Updated almost 7 years ago,
Is this a good deal?
Hello,
I am just starting my real estate journey, but I came across a townhome I really enjoyed/ have been doing research on it for the past couple of days. To me, it looks like a good first starter cash flow property, but I would like to see ya'll's take on it.
I found a 3br, 2 bath townhome for around $115,000 in Charlotte, NC area that would serve as a great family home/ potential home for graduate students near the university and the rent in the area off Zillow staets an average rent of $1300 dollars.
$
HOA is at $140 ish range.
All in all, expenses with this house would run around $800 - 900 monthly and rented out would net me around $400to $500.
I have family support in Charlotte, and I have reliable people I have trained to check on rental applications and interface with me/ I can also go to the area if need be to make sure things are running smoothly.
I am just starting out here so any advice will be appreciated!