Can someone check these rental numbers.

I'm curious what others think here. Seems tight to me. Who's managing it? Are you figuring management fee into your numbers?

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This is a no-brainer right?

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f no! not enough cash flow for that entry point. you are at my bare balls MINIMUM 200 PCf for that which i'd never accept unless property was much cheaper. none of my cash flows are any where near that low. way more. actually, with Pm and maintenance you will be way under 200 PCF. so you will prolly cash flow 100 a month. 8% Pm fee (could be 9 or 10) of that rent is right at 100. add maintenance. you will cashflow under 100 a month. no thanks. I'd never do that deal. unless you want appreciation and you plan on dumping within a few years EXPECTING prices to rise dramatically.

No A/C in unit correct? My niece lives in Colorado Springs & complains about no a/c. Could deter renters? Just a thought

Is $1300 rent on a $105k property terrible?

I knew only $200 cushion wasn't great, but seemed the purchase price to expected rent might be decent.

I've been considering purchasing rental property but have a lot to learn, which is why I was curious about the replies op would get.

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I've been considering purchasing rental property but have a lot to learn, which is why I was curious about the replies op would get.

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It’s pretty decent. If you can get 1.3-1.5% purchase price per month, and it’s a decent class property, you should normally come out ahead.

The only issue is almost everything I figure is with 15-20% down. If you’re getting deals at 5% down payment, it really changes things. You can scale much faster like that.

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note, taxes, Ins, HOA will run about $1100

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How bad is the HOA and taxes? I would of thought you'd be closer to 800-1000

I’m not worried about cash flow, I want long term equity and eventually cash flow for retirement (25 yrs).

I could put more down, or take the note to 30 yrs, but why tie up cash?

HOA is steep. It’s almost $500/month. But it includes electrify, water, trash, and sewage.

There is no AC, but it has a couple window units. Not unusual for CO SPRINGS in this price range.

"I’m not worried about cash flow"
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I bought several properties with that mindset and they worked out fine. My wife and I were both working and we put them on 10 or 15 year notes.

So how long is the loan/note with those numbers?

That could work if no major expenses crop up or the market crashes. Biggest expenses are typically roofing and HVAC, but you said you have window units. Oh, and vacancies.

Try to get it cheaper if possible. Good luck.

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HOA is steep. It’s almost $500/month. But it includes electrify, water, trash, and sewage.

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That is ridiculous. I pay $280 now, but that includes internet, cable, a gym, a gated secure entrance, and a swimming pool on top of everything you mentioned. The only thing I don't have is electricity.