All Forum Posts by: Jay Becker

Your thinking about all the right things Stephanie. I strongly recommend that you partner with a local real estate broker/ property manager that handles 200-300 single family rentals with a good track record. As an investor you will need 20% down plus 3000 in closing costs and expect your interest rate to be about 1% higher than a personal residence. If you find a clean house for $80k your Mtg will be about $430 PITI and can expect $950 rents. All of my houses are under $100k (post rehab) and is the same strategy that has worked for me. Once you head to $150k you only get 25% more rent. A property Mgr will charge you $500 to get a tenant plus 10% of rents. Once you get 4 houses they will adjust to 8% if they are any good. This is your key business partner and you don't even have to meet your qualified tenants so you can keep your day job to save for more houses. I have 100% occupancy thanks to the great work of my property Mgr. here in Charlotte. Best wishes reaching your dream plan!