I just helped a client purchase an investment property that will immediately give him positive cash flow. The condo was sold for $140,000, the HOA’s had been paid for 4 years in advance. He is planning on renting for $1400 per month. (Other units in the complex are currently renting for $1300-$1500.) The cost of the loan, taxes and insurance is approximately $1050. This leaves $350 in positive cash flow.
Many believe this is the “bottom”. Prices are beginning to stabilize. Inventory is shrinking, pending sales increasing and time on market is shortening. We are also running into multiple offer situations.
The point is that if you or someone you know is considering taking advantage of lower prices, now could be the time. If you want to move up to a larger home or buy an investment property there are some great deals out there. Call me and let me know what you are looking for and I will help you find it.
I am here to help!
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