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re: Rental properties. How to start
Posted on 6/16/22 at 2:39 pm to tigerfoot
Posted on 6/16/22 at 2:39 pm to tigerfoot
Know your market rental rate per foot.
Before you buy the property, calculate rent based on what you WILL get per foot and not what you HOPE you’ll get.
If rents are going for $2 per foot then a
2,000 sq foot home should get $4,000 per month. Take that $4,000 and divide by .02 and get $200,000. that would be a very good purchase.
If the rents are going for $1 per foot then $200,000 is questionable.
Before you buy the property, calculate rent based on what you WILL get per foot and not what you HOPE you’ll get.
If rents are going for $2 per foot then a
2,000 sq foot home should get $4,000 per month. Take that $4,000 and divide by .02 and get $200,000. that would be a very good purchase.
If the rents are going for $1 per foot then $200,000 is questionable.
1
Posted on 6/16/22 at 2:55 pm to SlidellCajun
Buying nearby a major university is a big plus….always a steady flow off students.
Only rent too law students or grad students….
NO PETS…..
Have a lease and do a video of the property inside and outside before they move in.
First and last months and a deposit
AGAIN NO PETS
Only rent too law students or grad students….
NO PETS…..
Have a lease and do a video of the property inside and outside before they move in.
First and last months and a deposit
AGAIN NO PETS
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