The Money Mustache Community
Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: stachejr on November 16, 2014, 10:01:47 PM
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hi. what cities have any of you found properties and purchased recently that met the 1% rule , and perhaps even a 1.5+ % rule recently in the US or canada?
have you been able to keep expenses below 40% including amortized expenses for roofs , boilers,etc?
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This is a very broad question, but Dallas/Fort Worth area is a great place to start. It looks like you may be a little late to the party in that area now, but there are some good deals hidden there. You can still find cheap properties (may need a little work) that could demand a high enough rent to meet the standard rental rules.Great economy, with a high presence of health care and aerospace companies. It also has nationally acclaimed higher education.
What areas of the country are you looking at?
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hi. what cities have any of you found properties and purchased recently that met the 1% rule , and perhaps even a 1.5+ % rule recently in the US or canada?
have you been able to keep expenses below 40% including amortized expenses for roofs , boilers,etc?
Anything in the midwest hits that, and is good for cash flow, but probably not much appreciation potential.
I wouldn't solely be buying on a 1-2% rule. It should be A factor, but not THE factor.
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hi. what cities have any of you found properties and purchased recently that met the 1% rule , and perhaps even a 1.5+ % rule recently in the US or canada?
have you been able to keep expenses below 40% including amortized expenses for roofs , boilers,etc?
Anything in the midwest hits that, and is good for cash flow, but probably not much appreciation potential.
I wouldn't solely be buying on a 1-2% rule. It should be A factor, but not THE factor.
Agreed. 1%-2% should not be the only factor. I like a little bit of cash flow with a little bit of appreciation. I like to look at social factors. Do people like living in the area? Is the population increasing or decreasing? Local employment opportunities? Don't be afraid to go against the grain a little. If you are looking for a place that lots of other people like and approve of then you will be paying more for it due to demand.
When I moved to Florida to buy a house in 2011 most people told me that I was nuts.