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Updated over 5 years ago on . Most recent reply
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Turnkey 4plex rentals — $300 CF
Would you do it? I’m looking at a 4plex in south Florida with 100% occupancy, in mid $500k, very high property tax. After running the number, I came up with $300/mo CF. Is it worth it?
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In case you don't have experience with property in South Florida, take into consideration the property insurance. You will probably need hazard, wind, and flood. They can vary WILDLY year to year. My policy for wind is doubling or tripling this year. That alone could make your $300 a month cash flow go away very quickly. I would make sure you understand those numbers well before pulling the trigger.
That said, a good rule of thumb I've seen is $100 minimum per door. Even $100 a month is pretty low in my opinion, but that is my threshold.