Can one buy a rental home that cash flows from day 1
As a newbie, it would be great to buy a rental home that cash flows positive from day 1. Has anyone bought a rental home that cash flowed $300 net from day 1? The ideal scenario would be that the rental home is already occupied by tenants and does not need rehab work.
I've been told that those deals are out there and they are usually from a tired landlord that just wants to get out of being a landlord.
Most Popular Reply
Yes! I closed on my first rental property last month and have collected two months rent already and my first mortgage payment isn't until Aug 1. My net cash flow after mortgage and escrows will be $390. And in Sept rent is going up by $100, so that's $490 cash flow.
It was a lucky opportunity that I stumbled upon and took action to snatch it up quickly. The key is to position yourself to be ready so that when a sweat deal comes up you don't miss out.
Good luck!