Anyone buy an Investment property with high rental yield recently?

[andysandp]

Has anyone recently purchase a property with a high rental yield recently?

Please share what you bought, rental price, renovation costs, taxes, expenses, etc.!

[SwordGuy]

Define "recent"

[Blindsquirrel]

  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

[SwordGuy]

Sweet deal!

[andysandp]

Define "recent"

Let's say within the last 12 months.

[thedayisbrave]

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.

[waltworks]

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