REJECTED!!!

[Carlos Cartaya]

Hi all,

Just went to look at my first investment property and had a rude awakening.

Everyone talks about getting houses below market value- my realtor informed me that houses in my county are getting 96-99% of asking price. Strike one. 

Based on rents in my area, houses like the one I saw are fetching around $1500/mo. 

On a $130k loan (after 20% down), mortgage payment, insurance, taxes, property management, etc, I'd have to pay about $200/mo additional on a 15yr mtge, or break even on a 30yr. strike two.

I need some help or strike three is coming, and I'll be out before I even took a swing :(

Carlos Carta