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re: Information for my fellow Real Estate Investors
Posted on 6/21/19 at 5:01 pm to Fat Bastard
Posted on 6/21/19 at 5:01 pm to Fat Bastard
Can someone help me with some advice. Looking to purchase rental house in the 150k range for first rental house investment. Rents average $1 per sq ft where I’m at so I’m looking at around 1500 a month rental income. Can someone tell me if these numbers are worth investing in a rental house and what expense % could I expect while renting out the house. Not sure on how much insurance and prop tax will run in Louisiana.
2
Posted on 6/21/19 at 6:27 pm to tigersfan1989
1% of purchase price is typically what you shoot for. However in my experience once you get larger, you can’t get that 1% as easily or you have longer vacancies. I could be off base though.
Posted on 6/22/19 at 1:07 pm to tigersfan1989
you need to acquire all your numbers and then run the numbers. see what your PCF would be relative to your DP. That would give you COC return, Everybody has different metrics and price points. you want a property with good RTV ratio. unfortunately many of those are out of state. if you can get your rent between 1 to 2% of purchase price that is great. that is what mine are. i would say 1% MINIMUM.
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