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Rental Property - What/where would you buy?
Posted on 4/4/17 at 12:29 am
Posted on 4/4/17 at 12:29 am
With all of the threads on using real estate to build wealth, it got me thinking.. if you had 30-50k to put down towards a rental(s), where would you start? What would you look for? Which location? etc.
Are there any key metrics you look for when purchasing? rent/expenses, cash flow, ROI?
Any insight from the RE investors of the MT would be greatly appreciated
Are there any key metrics you look for when purchasing? rent/expenses, cash flow, ROI?
Any insight from the RE investors of the MT would be greatly appreciated
4
Posted on 4/4/17 at 6:28 am to LSUTOM07
Trailer park.
Posted on 4/4/17 at 7:19 am to LSUTOM07
Find a location in an area where residency will be there longterm. Foreclosures are always nice to get good deals. I suggest newer homes or else insurance will just eat you up. I like the college town idea where renting is most common.
Posted on 4/4/17 at 8:06 am to LSUTOM07
quote:
Are there any key metrics you look for when purchasing? rent/expenses, cash flow, ROI?
LINK
You have to set the COC return and PCF you want for different price points. I gave an example of mine on the last page of thread linked above. Hopefully that gives you an idea. The first page of thread gives you some metrics.
Posted on 4/4/17 at 9:17 am to LSUTOM07
quote:
Are there any key metrics you look for when purchasing
Cash flow is super important for your first couple of investments, IMO. We're not like the major investment firms, we really need it to cash flow from day one since it'll take most of your liquid capital to make the down payment. So REALLY make sure that that's going to work.
Once you get some resources built up you can afford to eat a loss for a bit while a potential play incubates, but not your first few plays.
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