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Updated about 1 year ago,
Is there a market with 1M+ Houses - ROI 0.70%+ rental?
Hey guys,
I am looking to purchase a home (as in 1 home, not multiple) and I am looking for a market where I can purchase an expensive home and still rent it out at least at break even numbers.
Do nots
Not STR / AirBNB based asset
Not in vacation markets
Not in a market that has appreciated 50% in the last 24 months
Not Multi-Family or Condo
Dos
Must be ~A neighborhood, and I hope to be one of the less expensive houses in the neighborhood
Open to renovation
Minimum 1M, ideally 1.25-1.5M
Below are examples of price to rent I am looking for:
Home price - Rental price
1M - $7,000 / month
1.1M - $8,000 / month
1.2M - $9,000 / month
1.35M - $10,000 / month
1.45M - $10,500 / month
1.55M - $11,000 / month
Would be happy to hear some insight to direct me to any market that is even possible to maybe find a deal that can fit that.
Or alternatively burst my bubble :)