New construction Wesley Chapel
We currently reside in Europe and are considering purchasing our first investment property in the US, particularly in the Tampa area. Given our distance, new construction appears to be a promising option. We like the Wesley Chapel area and are contemplating acquiring one or two 4-bedroom, 2-bathroom properties in the $400,000 price range. But even with a 35% downpayment it’s difficult to find properties that yield positive cash flow.
We strongly belief in the potential for appreciation in this area. What are the concessions currently being offered by builders and the possibilities for rate buydowns in the current market? Due to our lack of US income, a DSCR loan appears to be our sole viable option. Our credit score stands in the low 700s. Any guidance or advice would be greatly appreciated!