I have a family member selling a condo in the south walton beaches area where I am in the 30a area and looking at buying a replacement property in the panama city beach area not far from 30a.
I decided to google whats a good buy on gross rent multiplier as I hadnt didnt that for a little while.
https://www.rocketmortgage.com/learn/gross-rent-multiplier you will see many articles written such as this that show returns for a search of "gross rent multiplier whats a good buy" It will show 4-7 GRM. The worst of times in our area in 09-12 when banks were falling we still were at the high end of that range this article was written this year.
It made me wonder how many people look at such articles when looking to buy and trusting their Realtors know the market better than just looking up info on their own with such great resources available online most studies I have ever seen state most start research on their own.
The area here were more in a 12 times gross rent that is more reasonable expectation currently.
We have a good rental market, I think most areas do but we also have a decent stable market despite the great hikes in rates. I think largely do to the natural resources we have the beachfronts, preserves, lakes, trails etc.
I will give them credit on this one "it depends on the particular real estate market in which you're buying. "
Comments (0)Subscribe to CommentsComment