All Forum Posts by: Aaron Barber

It just depends on your market. I have never been anywhere that the 1% rule works. I wouldn't have bought any properties if i relied purely on that rule.

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$140,000 for a property that rents for 2400 a month?? Where is this located?

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$5,000/month of income from real estate

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Originally posted by @Nick B.:

$875K for a fourplex that only rents for $1400/unit is way too much. Borderline where a deal might make sense is "1% rule": your rent must be at least 1% of the purchase price. If it's less than 1% you will have negative cashflow and your only way out is appreciation.

As for expenses, check with local property managers to see what they spend on average on small properties (less than 10 units)

That 1% rule doesn't work in ALOT of markets. By the way its a small world. I grew up in NRH before I joined the military. Alot of family/friends still live there. Take care

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Originally posted by @Justin Schaefer:

So now I'm posing this as a supplemental question to the original. What could happen if he were just never to have called this applicant back? Could the non-returning of phone calls be viewed as a fair housing violation?

Good ? Im just not sure how you could prove it. All you have to say is they didn't meet your financial criteria or you had a more qualified applicant.

1 Vote

All Forum Posts by: Aaron Barber

Aaron Barber has started 4 posts and replied 62 times.

Post: How do you know a location is perfect for positive cash flow?

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Post: Applicant screening (too many kids?)