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The Money Mustache Community
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Anyone buy an Investment property with high rental yield recently?
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Topic: Anyone buy an Investment property with high rental yield recently? (Read 2032 times)
andysandp
Stubble
Posts: 156
Anyone buy an Investment property with high rental yield recently?
«
on:
February 11, 2017, 05:53:12 PM »
Has anyone recently purchase a property with a high rental yield recently?
Please share what you bought, rental price, renovation costs, taxes, expenses, etc.!
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SwordGuy
Walrus Stache
Posts: 8967
Location: Fayetteville, NC
Re: Anyone buy an Investment property with high rental yield recently?
«
Reply #1 on:
February 11, 2017, 06:03:47 PM »
Define "recent"
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Blindsquirrel
Pencil Stache
Posts: 690
Age: 6
Location: Flyover country
Re: Anyone buy an Investment property with high rental yield recently?
«
Reply #2 on:
February 11, 2017, 06:49:04 PM »
last year, 26 k to buy, 8k renovations, 1450 a month less 175 water, 30 trash, taxes 400 or so. 2 1 br apts, 1 2br SFR SW Ohio . Guy inherited it tried to sell, via MLS, I bought off CL. Kicked the meth heads out
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SwordGuy
Walrus Stache
Posts: 8967
Location: Fayetteville, NC
Re: Anyone buy an Investment property with high rental yield recently?
«
Reply #3 on:
February 11, 2017, 07:53:53 PM »
Sweet deal!
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andysandp
Stubble
Posts: 156
Re: Anyone buy an Investment property with high rental yield recently?
«
Reply #4 on:
February 12, 2017, 05:29:58 AM »
Quote from: SwordGuy on February 11, 2017, 06:03:47 PM
Define "recent"
Let's say within the last 12 months.
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thedayisbrave
Pencil Stache
Posts: 700
Location: Raleigh, NC
CFO @ My Life
Re: Anyone buy an Investment property with high rental yield recently?
«
Reply #5 on:
February 15, 2017, 10:38:17 AM »
Bought in December 2016.
$115k purchase price ($116.5k including CC)
$215 monthly HOA (H2O included)
8% property management fee
~1% property taxes
$97 liability insurance
$150 monthly electricity
10% vacancy
Rents for $1660 including utilities
= ~8-9% ROI
Bought off market from another investor, 4 bed/4 bath university style condo near NCSU in Raleigh-Durham metro NC.
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waltworks
Walrus Stache
Posts: 5659
Re: Anyone buy an Investment property with high rental yield recently?
«
Reply #6 on:
February 15, 2017, 01:35:03 PM »
Not sure if it counts, but we finished out a 2 bed/1 bath 1000 square foot basement apartment under our house at the end of last year. $75k all-in including furnishings/appliances/cooking gear/beds/etc.
We're doing about $3k/month renting it as a vacation rental thus far. Overhead is basically just extra utilities (~$100/mo) and replacing consumables like TP. I'd figure another $100/mo for replacing linens/appliances/etc as they wear out, on the conservative side.
Management and cleaning eats up a couple hours a week of time, though. Still, for ~$34k/year, I'll take it.
-W
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Anyone buy an Investment property with high rental yield recently?