I am currently working with an investor that is looking long term buy and hold with cash flow.
I am shocked at what we are finding. We just wrote an offer on a duplex that is a bank repo. We have an offer in of $110000, just under asking, 30% down and no closing cost credits. The rents are $800 per side. So we have been looking at the numbers and here is where we are. He has about an 80K loan with a 6% interest rate. His PITI on a 30yr fixed is about $700/mo. Add in a mangement fee and garbage bill, he is still under $1000 month. And his rental income is $1600/mo. I am no rocket scientist but that is a phenominal investment. Take into consideration 75% occupancy rates and he is still positive $200/mo. He wants to buy 3 this year. Real Estate is always a good investment, and GOD is not making any more dirt. Now is the time very everyone to buy.