How do you find rental properties that cash flow +$500 a month?

Question

I have some basic questions as someone who plans to start my real estate investing journey.

1: How difficult is it to find a multi family or single family property that cash flows $500 or more per month?

2: What states and cities are best for this? Which is better Texas or the Midwest? 3: Should your realtor have a property management team ready to refer?

4: Should I only be looking at duplex/triplex or should I look at single family as well?

5: Is Airbnb better than traditional way of doing things? How do you set up Airbnb coming from someone who has no clue where I would start?

6: What is the easiest way or place to find a high cash flow rental? How do I get one?

7: Lastly, how can I make it possible for a property that doesn’t cost more than $130,000?

Greg R. · Answer

There's no way you are going to get these answers in a discussion post. You can spend weeks exploring each of these questions. I highly recommend spending time in the education section of BP and on other resources on the web.

The one answer I can give you is that it isn't easy. You need to spend the time and put in the work to learn all of this. Asking questions is a good first step, but no one is going to do the work for you. You need to put in the hours and do the research.

Michael A. · Answer

Thanks Tyler. Nice to hear from you.

Tyler Everidge · Answer

1. This largely depends on your price range of a property and if you are considering $500 after PM, vacancy, cap ex, repairs or before.

2. Texas has been better in recent years for appreciation and midwest has had better cash flow in general.

3. Yes, if you are working with an investor friendly agent then they should be able to refer you to a property management team.

4. You will most likely get better cash flow from MFH, but I wouldn't rule out SFH either. (especially if you are looking to value add)

5. Airbnb is a lot more hands on and risky. Definitely either need to know the area really well yourself or have a realtor that can help.

6.  High cash flow rentals can be found in any market, but you'll have a lot easier time finding them outside of the major cities.

7. Even if you get a property that gives you a CAP of 10%, you would be looking at $1K a month. But that's before saving for repairs, vacancy, and any financing if you aren't paying cash.

Jeremy Horton · Answer

I would suggest starting out by doing a little reading

This was just not a well thought out post by you OP

How do you find rental properties that cash flow +$500 a month?

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