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15 Comments on Buying, Fixing And Renting: Know, Know, Know Makes It A Yes!
Gaby,
Great info! There are great opportunities in our current market as well. I love your advice, find the neighborhoods and areas you want to be in and prices that work there, don't just buy in a random area because it's low price. The right property is more valuable than the cheap property.
All the best, Michelle
Very true here in North Texas, too, Gabrielle! I also recently posted a blog entry about the returns/cash flow that is very attractive to investors. It is definitely a hot market for investors right now, with interest rates so low, and demand for leases so high.
It is best to hire a property manager from the start to keep on out of trouble and cash flow the property.
Great advice, Gabrielle. The rental market is hot here too. We went through a lot of REOs and short sales. So, the folks who were in them rent now. It has exploded.
This type of investing cannot go wrong when one considers that it beats all types of returns on investment
Hi Gabrielle, If I bought a home in Tucson, Arizona for $100,000, what's the approximate square footage and bedroom count? Is it a single family residence? How much would that house rent for? Thank you for sharing and best wishes always.
The rental market seems to remain strong all over. Nice alternative if you can afford to carry the home and not sell when you are moving.
good stuff. same thing appears to be occuring here in Washington
Still many good buying opportunities in AZ, with lots of long term upside.
Good post, thanks for sharing it.
Gabrielle, we made the decision to go from buying & flipping to buying & holding almost a year and a half ago in the Roseville, CA area...and now many, many more investors are buying & holding. Currently, the inventory in the <$100k price range is down to one! :)
Leilani
Hi gabrielle... yes we see more and more rental requests these days
Thanks for sharing this with us Gabrielle, it sounds like a summary of the business plan that I am very happy to have taken to my banker a few years ago.
Morning Gabrielle first of all congrats on the feature. As I have read it is going on in other parts of the Country. Enjoy the day
MORNING JAMES! Well thank you - I really like seeing your comments all the time on my posts! I appreciate seeing you here!
MORNING BOB! Good for you - I've always said real estate is a long term investment and works for many!
MORNING ERICA! Nice to know it's in your area as well!
MORNING LEILANI! One at less than $100k - your market is getting better! We still have a high inventory of homes under that amount - but good for you on the holding end!
MORNING ANTHONY! Thank you - we get many California investors looking at our market - how are things in the SF area for renting?
MORNING MATT! Glad yo hear this is happening in several areas - like yours!
MORNING IRA! I agree - if you can - this is the way to go right now!
MORNING RICHARD! It depends on the area. And the best investment right now for rentals are SFR. But I'll give you an example of two that I wrote over the weekend - 3 bed/2bath, 1586 sq ft, 2 car garage, $85k. Rent amount $1100 a month. Another very similar, but 1300 sq ft, needs about $2k of work, $78k. There are many between $100 and $120k that are in excellent areas not just for rent but for long term appreciation! Hope this helps!
MORNING RICHIE! I agree - for the past 25 years - that's what I've done - I've done my share of fix and sell but for the most part, buying and holding is the best for me! Thanks for the comment!
MORNING MIKE! Great to hear!
MORNING HARRY! I agree - though some investors are excellent property managers - they often find it's easier to let someone else do that part while they focus on investing.
MORNING CANDI! Good to hear that this is going on in many states!
MORNING MICHELLE! Well thank you! I like what you wrote too!
Hi Gabrielle, Thank you for providing those details. First of all, Great Prices! Don't those figures add up to a positive cash flow for all investors? Just out of curiosity, and I will check back for your answer, what are your property taxes in Tucson? I hope you get all of your offers accepted and best wishes always.