Any markets cash flowing at $750+/door today?

[Michael Healy]

Hi All,

Is anyone finding properties for sale at todays market rates, in any market throughout the US, that one can net $750/month or more per door? From single family to under 10 units…ideally it would be semi turnkey or very little work to be done, but open to markets where I can increase value to get rents there as well. Any advice or help on which markets people have been seeing that come close to this would be greatly appreciated!

[Jeff Fountain]

Michael, 

Check out St. Simons Island, GA. I have several properties on the island, most are long term and often Federal Law Enforcement Training Center (FLETC) rentals. The returns are some of the best in the country. Hidden secret. Most of the Federal Law Enforcement agencies send their new recruits to FLETC for their qualifications; also do continuing education/training. Many of the instructors rotate in for an average-minimum of six months to a year at the time. Most of those instructors want to live on the Island - St. Simons. The instructors are paid Per Diem. (AUG-FEB $161; MAR-JUL $206; Daily rates). As a REI, you charge the Per Diem rate (set by the government). The renter pays you, not the government. This simply means the government will pay that renter UP TO the daily per diem rate. The renter pays you after you provide them the invoice. While there is a ton of cash flow, there is a down side. The FLETC instructor - renter signs no leases and you pay for turn key operations. Keep your property nice and you will keep your FLETC renter. You will be hard pressed to find these profit margins (investment based on 20% down / conventional mortgage) anywhere in the country. Financially structure your investment differently and your profit margin can be higher.