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All Forum Posts by: Steve Garcia

Steve Garcia has started 4 posts and replied 32 times.

Starting Out

Post: Seeking first rental investment

Steve GarciaPosted
  • Investor
  • DFW
  • Posts 34
  • Votes 22

My goal is definitely to scale my portfolio to live off cash flow in the future. After researching and reading I was finding my price point to be rather high for an investment as my cash on cash return was not enough to support my initial investment. Thank you for the feedback I will target a market with a lower price point! 

0 Votes
Fort Worth, Texas
Starting Out

Post: Seeking first rental investment

Steve GarciaPosted
  • Investor
  • DFW
  • Posts 34
  • Votes 22

Hello,

My name is Steve! I am new to the forum and the Biggerpockets family. I had a question regarding a starting price point on obtaining my first rental property investment. I set a budget for 250k which is roughly 75k down per the numbers provided by my lender on the pre-qualification received. With current interest rates that will total my monthly payment at about $1650. Should I target a lower price point? The properties I am finding at this price point are turn key in the Fort Worth area.  

1 Vote
Fort Worth, Texas