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I have tons of property leads local to me that are being sold right now. I know for a fact that if they were cherry picked (not hard) each of them would get rented for more than the mortgage costs (assuming good credit for good rate) along with other costs such as property tax and a 20% vacancy buffer.
The risk itself would be minimal. You would see a return each month, albeit small. However you would not recover your investment anytime soon as I am assuming a 30 year fixed. The renters though would be paying for the property, plus any potential equity build up. The number you do would be based on how much you wished to leverage yourself since you would just need 20% plus closing on them. Most have a full purchase price between 90 and 130k
I am sure there are many places like this all over the US. I also would not advise being fully hands off though.
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