All Forum Posts by: Tim Bee

Parts of CA actually have SFRs that make the 1% rule.  Gotta stay away from  SF, LA and places like those though. 

Stick to the 1% rule.  Unless you are flipping or holding for capital gains always stick to the 1% rule.  Realtors even on here will always try to sell you on the reasons to buy something that doesn't meet that rule.   Don't listen to them.  I still today, even in California am able to find houses that meet that expectation.

Too risky,  Stay away from a flood plain.  

There's always a hidden agenda.  They'll usually do a half a$$ job if they know it's a rental.  

Stick to the 1% rule and don't settle for less is probably the most important rule to follow.  If you can do this it's almost garenteed success.

Robert Kiyosaki

Very high violent crime in Detroit.  Lots of strong storms.  High maintenance costs.  I know it's cheap but all these factors have to be considered.

Stick to 3bd/2bath.  Less turn over.  Stay away from the smaller dwellings.  You can loose a ton of money in too many frequent vacancies.  

Texas has pretty high property taxes compared with many other states.

Multi family properties should AT LEAST meet the 1% rule. They should actually exceed the 1% rule in my opinion. Maybe be around 1.2-1.5%. A SFR doesn't have all the community items that a multi-unit will have. With a mulit-unit you (the owner) have to pay for yard care, trash and possibly some other community items that eat away at your cash flow. On all my single families the tenant takes care of the yard, pays for the trash and of course pays all the utilities.