All Forum Posts by: Dan Brindley

Ok, thanks. And after reading more through the search function, I feel relieved that the higher the rent expectations, the lower and lower you can move away from the 2%.
You just can't rent a home/duplex for 2k a month if you bought it 100k; it just isn't happening. Comps just wouldn't allow me to charge that much.
The most I can see is 1-1.2% on a 100k house. Would you guys take that deal? I'm starting to think that maybe my money would be more stable are secure in a CD, lol. If the 50% rule is in fact a true measure, my calculations tell me doing rentals would get me 6% return, just 1% higher than a bank CD. One major mishap, and one could seriously regret getting into this business of real estate investing.

This may be a silly question, but does the 2% rule apply to homes that I would buy outright?
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One more thing, is the 50% rule only applicable to financed rentals? Because I would think that less than 50% would be spent on the expenses of a rental if there's no mortgage that has to be repayed?

Yeah, and I think I align my thinking a lot with yours. If I could have 4-5 houses getting 1,000-1,200 a month on each Id be happy. I can purchase a house that will allow me to do that every 3 years, without financing. So it would take me 12-15 years to do so. I don't know if I have the patience for it, though.

I live in Ohio by the way. Thanks for you help!

Got it J Scott. Thanks for the other answers, also.

I understand, thanks. I guess there is no "one right" way. Bu I would like to keep the mortgage low to nil if possible.
I can save around 30k a year. Do you think I could buy a house a year with that? I know I would have to keep my eyes peeled for the best deals around to strike a deal like that consistently every year though. But is this realistic?

Hi,
My goal is to rent out as many homes as possible. If I had a starting amount to spend on this endeavor of 100k, how would you go about purchasing rentals.
I want to focus on duplexes. I guess I need advice on how to buy my first place. Should I buy the house outright, or finance most of it?
Then what would be my next plan of action on purchasing the next one?
Any advice is appreciated.

I'm totally new to Real Estate Investing. But after reading so many times that $100 a month profit is the goal, I'm left wondering how can this be good? By my estimation I'd need 40-50 houses to make a decent living. I know I'm probably totally missing something, so can someone explain this to me. And how can someone get to own that many homes? And how long would this take? Just keep refinancing the previous loan? I would lose my head trying to keep track of that many homes even with a property management company!

OP,
How in the world did you completely pay off that many homes?
I ask this because i started a thread asking how to accumulate houses to rent out. I just couldn't see making a huge profit if all that potential profit is going to pay the banks back for all the mortgages I've taken out on multiple homes/units.

I'm speaking specifically about the Estero area in Fort Myers. I don't live in the area but considering buying a house there and renting it out when I'm out of the country.
But I just looked on Zillow, and there seems to be A LOT of homes for rent in the area. That doesn't add up to a good place to try to rent out homes to me.
Does anyone have any inside info on the area? I'm just afraid of getting a home and not being able to find any tenants.