Should I buy a new construction home as rental right now?

[Kevin Vasquez]

Hey guys

I checked out some new construction model homes in the central fl area. Found a development that’s finishing up phase 1/5. I’m able to get a new sfh 3/2 just under 1700 sqft for $246k with 9k down, hoa $160 and 9k in closing costs covered by builder. My math shows my total being just under $1560. Rent rates are $1700 but that for older and bigger homes outside the development. The agent says some of the larger homes in there are renting in the $1700 mark also. 

I figured after management fees my total will be in the $1700 ball park area. Phase 2 of the development the same home is already priced higher. I figure I can either wait till all 5 phases are complete and sell and bank off equity as worse case scenario. 

Thoughts?