"An individual must enforce his own meaning in life and rise above the perceived conformity of the masses" (Anton LaVey)
jimcurransay a property is selling for 100K and ... is a single family home .. mortgage 80K
franmike$36K - $45K? Bear with me here, being a relative newbie, I'm trying to understand this all.
Am I correct in assuming that for the price range you refer to that you're talking about a multi unit property and breaking down the cost per unit? $750/mos here gets you a decent apartment or a smaller house, no utilities included.
What kind of cash flow would you require for the $100K example originally used?
Rickson9With regards to what I would be looking for when paying $100k. I would be looking for gross rents of $20k to $25k per year or roughly $1650 to $2050 per month.
Rickson9If you can't find $100k properties that will rent for $1650 to $2050 per month then look for $50k properties that will rent for $850 to $1000 per month.
ThomasBeyer,, and look and look and look .. and look some more ..
jimcurranOn another note when using the 10% method for evalulating properties is
that using gross or net rents? I would assume that is net after
property taxes, insurance, property management, vacancy, maintenance,
jimcurran I'm just wondering where you are located or finding properties that can get such great rents??