Thanks Erik, another quick question. So the $300k would just be down payment. I could buy outright at 3-6-or even $1mm range but was thinking of targeting $500-600 with mortgage being part of carrying costs. So let's say carrying a mortgage of around $1500 a month with insurance and tax rolled in. So the question I have is what is the balance between carrying cost and cash flow. I know A management company is probably a must as I will be remote and PS mandates having someone available in city so that's 20% I figure. My back of napkin math is beginning to suggest it may not be a great investment BUT it really comes down to how much these properties rent for on average and occupancy... well, I guess and what sets one apart from another to promote return STR tenants :)
We’re here now by the way. Enjoying sunshine and cocktails :) love this place.
