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Updated about 1 year ago on . Most recent reply
General noobie real estate question
Hey everyone, I'm brand new to real estate and have a fairly simple question: I heard from someone that it might be possible to purchase a single-family unit for $100k in cash (even if it's $80k + $20k in renovations) and rent it out for $1200 / mo. This sounds outrageous to me and too good to be true so I wanted to check in here. I'm geographic agnostic although I'd like to stay in the lower 48 states if at all possible. Is this actually possible?
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#5 All Forums Contributor
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Quote from @Robert Johnson:
Hey everyone, I'm brand new to real estate and have a fairly simple question: I heard from someone that it might be possible to purchase a single-family unit for $100k in cash (even if it's $80k + $20k in renovations) and rent it out for $1200 / mo. This sounds outrageous to me and too good to be true so I wanted to check in here. I'm geographic agnostic although I'd like to stay in the lower 48 states if at all possible. Is this actually possible?
These are the numbers you'll get in a bunch of midwestern markets. Cleveland, Detroit, Akron, Toledo, Cincinnati, Baltimore, Indy, KC etc.....