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re: Rental properties. How to start
Posted on 6/16/22 at 10:24 am to I Love Bama
Posted on 6/16/22 at 10:24 am to I Love Bama
quote:Does this ever change. Lets say you buy a 350k home. I see some in this town that are renting for 2700 a month that are similar. I am looking at the 150k to 200k homes. I can see getting 1500 for the lower end ones, but on the surface it looks like once you pass that point in our market you wont get to 1%.
Yes. 1% of your all in price.
Just avoid those is the iron clad rule, correct?
1
Posted on 6/16/22 at 11:18 am to tigerfoot
quote:
Does this ever change. Lets say you buy a 350k home. I see some in this town that are renting for 2700 a month that are similar. I am looking at the 150k to 200k homes. I can see getting 1500 for the lower end ones, but on the surface it looks like once you pass that point in our market you wont get to 1%.
Just avoid those is the iron clad rule, correct?
This conversation could go on for months. There are exceptions to the rule.
For your first rental you don't want a $350,000 home in my opinion. Find something cheap where even if you frick up its not going to be a big problem.
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