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Updated about 5 years ago,
My cash flow on my first property
I'm grinding to find my first investment property. I found a group of single family attachment homes going from 70-80k. All of their descriptions states that the rent goes for 900-1100 a month. By doing the calculations using the rental tool, I can cash flow 240-250 a month from the properties charging the $900 monthly rent. This is also buying them at asking price and 25% down. All of the homes are in great condition and have been remodeled recently, so no renovation on my end. From what I typed so far, it seems like a good start even if the cashflow is on the low side. Then again, I haven't been in the game long enough to recognize if $250 a month is great or ok cash flow. For a start, it seems like a good one. I am posting for the opinion and experience that yall would like to share. I know as soon as I purchase my first deal and receive the income I will be hooked for life. Like all of you reading, this is my ticket to quit working for the man and work for myself. Thank you all ahead of time for the responses and God bless yalls investment journeys :)