All Forum Posts by: Sunny P.

Are you getting 1% or more of your purchase price  in rent per month? 

I would like to learn more on valuing properties, cash flows

Thank you in advance for sharing your wisdom. 

 I am not trying to be ignorant but want to understand it better. The more opinions the merrier.

I am looking at a bunch of single family and having a hard time justifying getting 1% in rent

I see your point but not having to worry about the exterior is a plus so why so negative on condos and HOA?

It's much easier getting 1% or more in rent from a Condo then it is with single family. Am I missing something? 

what kinda properties are you guys buying?

Is there money to be made in single family homes? 

 Are you suggesting I should try to get a 3rd unit in the same condo complex? 

is it just me or it's super hard to find duplex?? 

What do you guys like duplex, 4-plex, single family?

I have a full time job that keeps me fairly busy but I am anxious and excited to grow my RE portfolio.  I started RE investing about 5-6 years ago.  Actually, when I was in grad school, I bought a condo in Columbus to live in.  This was in Jan 2009.  I lived in the condo for about 2.5 yrs ago and then decided to move to Chicago for a job.  This was June 2011.  I had a choice of selling and taking a loss or attempt to rent it out and I did in less than a week.  

That tenant ended up staying for 3 years.  Then in July 2014, I decided to rent it out again.  When I was showing the unit, I noticed another condo for sale literally 2 doors down.  So I put an offer and ended up buying that one.  Both got rented out very quickly. 

Purchase price of 1st: $150,000

Purchase Price of 2nd: $140,000

Rent from 1 and 2:  $1400 each per month.

HOA fee: $149.

So lately, I have been finding out more and more condo HOAs won't allow investors.  Plus, I am not really finding DEALS where I can get 1% of purchase price in rent per month.

I am guessing Condos are not popular with RE investors here.   I like condos because they are somewhat maintenance free..

I am not sure but it seems like when the rent can be $1200-1500, it is a sweet spot.  My reasons for not doing something too cheap:

Bad quality tenants...won't pay rent on time...

Possible eviction issues...

I am ready to get my 3rd one but having a full time job prevents me from buying that that needs a lot of work done..

so what do you suggest?  Can I get 1% in rent per month?  btw, I live in Cincy now.

 How do you find deals this good?

With properties this cheap, I am always worried that it will attract tenants that won't pay rent, trash property, etc...is that an issue?

why an investor from Cali would want to invest in Ohio?  Just curious..how does it work with showing the units, repairs, etc.

I moved to Cincy last year and have trouble understanding this market.  I am originally from Columbus and understand the market fairly well there.  So I would like to buy a unit in Columbus (only 2 hrs away) but afraid how to manage from 2 hrs away.  You guys are talking about managing from states away...