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Updated over 4 years ago on . Most recent reply

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94
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16
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Weng L.
  • Fort Lauderdale, FL
16
Votes |
94
Posts

Would you pull the trigger on this rental property?

Weng L.
  • Fort Lauderdale, FL
Posted

There are fewer short sale or foreclosure in the market right now so I am thinking to buy move-in ready investment properties directly with 25% down payment and 30-year fix mortgage

If down payment and fees all together are $100,000, monthly expense total is $1900, monthly rent is $2700, turn-key new construction. Would you buy this property?

Most Popular Reply

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13,365
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Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
19,402
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13,365
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Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
Replied

NO.  Not with those terms.  You would be negative for over 10  years.  I would like to have it less than 2,,,and closer to 1.

What would the CF be if you only put 20% down?  Probably negative. That means the only thing you're doing with a higher DP is paying for all that negative CF upfront.

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