Recent slow down of units sold and an increasing inventory has BUYERS in the best position they have been in for years. There is much OPPORTUNITY in place presently. "Buy when everyone else is selling and hold until everyone else is buying. That's not just a catchy slogan. It's the very essence of successful investing."
- J. Paul Getty
Many folks like to have an idea of what the cash flow on a strong renting property looks like.
Check out these examples below and see what category of home you match up with. When I work with someone I treat them like it was me buying and I want to know how my investments are going to perform. Let's face it; if it looks like you can have a beach house and it doesn't strain your present income position and you have the likelihood of gaining substantially on your initial investment you would like to see it on "paper". This example can be made specific to your desired investment level to be.
You can download this Microsoft Excel spread sheet and enter in your respective information to calculate your own income analysis by clicking the Excel icon to the right. You may download the spread sheet in plain text form by clicking on the text icon. Please note that you will need to have Microsoft Excel installed on your computer in order to edit the variables in the document.
Contact me at (252) 207-4554, or email me at mike@obxreconsultant.com we will talk about where you want to be and I will perform the very same exercise for you.
There are many lending institutions but only a handful that can give you the service you expect. I have developed professional relationships with some of the finest out here. Local lenders understand the market and can best structure a loan product for you based on this understanding. I will gladly forward a few local lenders contact information to you once we have identified your expectation. Some like interest only short term, some like 30 year permanent. Let's figure out which product matches and satisfies your exit strategy.