The current in-place average rent for renovated units is $2,550, and the unrenovated is $2,150.

The current in-place average rent for renovated units is $2,550, and the unrenovated is $2,150.

Take a look at what the average returns appear to be and set a goal for cash on cash at least.  

@Andrew M. yeah, if you opened a HELOC while you opened while living there then it's likely that they don't want to extend that current product.  

Then add the average of 10% ($300) for maintenance.

As Pari said, you can learn notes and earn more than that, or if you want mailbox money and do no work, JV with a note investor and you can get 12%+ and your money is not tied up for years but on average 12-18 months (or less) depending on the deal. 

What happens when you add purchasing power into a product shortage environment?

I’ve done some research and have identified a few markets with potential, but I’m still trying to figure out the do’s and don’ts of buying distressed properties and how to maximize my chances of success.For example, what market factors should I be looking at beyond the average sale price?

To make an informed decision, research the mid-term rental landscape in Garland, considering average rental rates, vacancy rates, and competitor offerings.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.