[quote=sdcellar]Do you run into much that even comes close to that? I see two properties for ~$258, but neither of those look like they’d fetch near $1700 a month in rent. Also, at that price ($250ish), it still seems like a borderline money losing situation.
And that’s after you’ve plunked down around $30K (I assume one has to put at least 10% down, maybe that’s not right?).
At $200K, you’d do better, but probably couldn’t exact the same rent either.[/quote]
Nope, not even close. They all are around 325-375k now. Was around 300-350k late 2008.
With 250k, 20% down & 5% interest rate, PITI would be around $1400/month. If it rents for $1700/month, that’s $3600/year in profit. From a $50k investment. That’s 6% return before talking about any write offs. That sounds pretty decent to me. At $200k, we’re looking at ~$6500/yr. That’s over 10% return.
