Atlanta areas rentals that break the 1% rule(possibly 2% rule?)

[Tanjeem Rhyne]

Hey guys,

I'm in the market for rentals(I'm working with a partner) and I've been looking the past few days on MLS for rental properties. Ideally I'd like something that breaks the one percent barrier(meaning monthly rent is . But I have been pondering for the last few days....

Is this even a realistic goal? 

I've been using JScott's single family rental expense spreadsheet and have been turning down properties(in the Kennesaw and Norcross) areas left and right. 

I'll get decent cashflow for a few properties but I'm wondering my expectations are too high. 

Thanks,

Tanjeem

[Michaela G.]

When you're starting off it's easy to want to rely on formulas or 'paint by numbers' schemes, but you may have one house that fits the 2% formula and has $ 100 cashflow and another fits 1% and has $ 200 cash flow. 

Look at those formulas just as a general guideline, but don't overlook the individual scenario of each property.