About to close on first rentals - current rent climate?

[Vu Nguyen]

My wife and I have decided to reinvest some funds into rental properties (as many are starting to do now) and I’m about to close on our first two turnkey rentals (in Baltimore, MD and Hummelstown, PA) We’re thankful to have one year rent guarantees on these properties but are exploring the option of purchasing properties from other providers without that guarantee. What is the general climate with rents coming in currently with COVID-19 for the more seasoned investors? I would greatly appreciate your input on this as well as any advice to protect ourselves when purchasing rentals during this time.

[Farrukh Ali]

Ran some preliminary numbers:

School district: 1/1/1

Age of house: 93 years

Average rent for 3 bedrooms within a mile radius for last 12 months from rentometer: $1266.

The numbers are very uncompelling. Looks you are paying a very high premium for a turn key property. Your Cash on cash return might be negative for a few years.