All Forum Posts by: Matthew Brand

I'm trying to learn more about REI and am having a little trouble with the 2% and 50% rules. I understand the concept, but I'm having a hard time believing that they're regularly feasible.

I currently own one rental property that I bought without doing any strong due-diligence. My positive experience with this property has me wanting to dive in more. When I learned about the 2/50% rules, I plugged in the values for my current rental to see how it shakes out. It comes in at about 1% for the 2% rule and just under $100/month for cash flow. So, that seems like it wasn't the greatest investment.

Where my issue comes in is that I can't imagine ever being able to get that sort of house for the rent required to hit 2%. Are there a bunch of deals that are close to those rules and I just don't know about them? Is it different per market? Something else I'm missing?

For reference, the rental property I have is in Omaha, NE and I get $1280/month in rent and I purchased the house for $123,000.

I'm considering quitting my day job and becoming an REI. I've found a bunch of resources on the site on how to do it and feel confident that I can learn enough to make it financially viable.

What I haven't been able to find is a description of what the lifestyle looks like. I currently have one rental property, but I doubt that experience scales to what life would be like if I had a 40+ unit apartment complex. Anyone able to share what your day-to-day looks like? Am I going to be answering calls 24/7 and fixing holes in the roof all the time?