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Updated almost 4 years ago,

User Stats

50
Posts
20
Votes
Jaston Robinson
  • Real Estate Agent
  • Rhode Island
20
Votes |
50
Posts

Should I count on garage rent?

Jaston Robinson
  • Real Estate Agent
  • Rhode Island
Posted

Hi bigger pockets. I was recently pre-approved to buy a 3 family via FHA. I'm interested in buying and holding investing. Here's the numbers.

Asking: 399k 

Down payment 3.5%: 13.9k

Garage income annually: 8.4k

Rent income annually: 37.k

I wanted to get some advice on the garage income. There's 7 garages which all rent for $100 per month totaling $700 per month & $8.4k annually. Should I count on this income? What are some of your experiences with garage renters? Are these leases usually month to month? Thanks in advance!

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