First Investment Property

[Gwen Harvey]

I found a townhome that is in great move in condition as far as I can see. It doesn't show any repairs are needed. It is a 3 bedrooms 2 bath home and is close to the interstate and shopping. It sales for $79,000. The taxes are at $880.00 a year. I'm asking for 3 percent closing cost from seller. I did the rental property analysis based on an offer price of $75,000 with 20 percent down and a monthly rental rate of $1000.00. My findings show that it is not a good deal because it puts me in a negative ROI of about .6.96 %. Is there anyway I can make this work.