How am i doing on my first single family rental property in GA?

[Kevin Lanphear]

I’m 33, living in north GA, and about to close on my first single family rental property (new construction) in my area in late January. I would love to hear your feedback based on my purchase price, expenses, and cash flow breakdown. Once I rent this out and have the lease signed, I am going to be qualified to buy #2 and #3 rental properties up to $200k purchase prices...

Thanks so much!

-4 bed 2.5 bath

-2038 sqft and 12k sqft culdesac lot

-$230k purchase price

-20% down payment

-cash to close probably will be around $52k

-mortgage total PITI = $1100/mo

-property mgt will cost $159/mo

-rent will be $1750

-net cash on cash ROI around 11%

[Polo Vazquez]

I didn't run the numbers, but what @Jordan Miller said sounds about right. %5 CoC Roi sounds low but since you are getting property management then you are basically getiing 5% without any effort whatsoever! If property values are appreciating in that area then in my opinion you are doing great!

Don't expect all your deals to be extraudinary deals. Just stay in the game and get good deals. Every now and then you will hit a home run.

Regards and best of luck