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re: Owning a 2nd rental right next door to another thoughts?
Posted on 8/7/17 at 9:29 am to Fat Bastard
Posted on 8/7/17 at 9:29 am to Fat Bastard
I mean if a drug dealer moves next door or some white trash family you now have two houses that can be potentially impacted compared to one.
I wouldn't let it hold me back from investing but OP was looking for alternative thoughts. Not sure how that is a silly statement
I wouldn't let it hold me back from investing but OP was looking for alternative thoughts. Not sure how that is a silly statement
Posted on 8/7/17 at 10:20 am to hiltacular
I don't think there is a problem owning 2 in the neighborhood. 5 in 1 neighborhood and maybe your concerned more. Write down a detailed review of your current property and rental history and maintenance. How long have tenants stayed? If you've done really well then you'll probably be fine owning 2 that both cash flow well. From those numbers it looks like you are at about a 12% yearly return which isn't horrible but not great either. Depends on your market. In my market anything less than 15% isn't a good deal. If it's been on the market that long low ball them. See what they say. Like others have said I'd focus on cash flow almost exclusively.
Things to consider
Cash flow > overall quality of neighborhood > hopeful appreciation > 2 houses in 1 neighborhood
Things to consider
Cash flow > overall quality of neighborhood > hopeful appreciation > 2 houses in 1 neighborhood
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