May people use hard money lenders, but the amount you end up paying might eat up any equity in the property.

I find that for lower cost rentals as these (<$700), property management costs quickly eat into your CoC returns pretty quickly.

Lawyer fees would eat you up, especially in a non payment event.Whether your tenants have something to lose in the community and their likelihood of sticking around I think would be primary factors in evaluating their likelihood of repayment.

Sounds like everyone is singing the same song, LOL.Tell them Eat My Shorts.

Carpet and paint in one unit would eat a big piece of that.

Hey all,I’ve been looking into purchasing a few properties in Indianapolis, however I haven’t had much luck lately finding cash flowing deals. I’ve heard that in Indianapolis, property tax is 1% for owner occupied an...

@Tre'nez Deriggs like some of the other comments here, i don’t believe you have the equity to do a cash out refi yet unless the property has appreciated. with a rental, if you are the perfect person with an amazing credit score and other credentials maybe you could squeak out 80% LTV on the refi. most often you are looking at 70 or 75% LTV and have seen plenty of people at 65%. i did two refis on two different rentals this year and got 75%. this differs from refis on a primary house where you can get higher LTVs. also, don’t forget there are closing costs too that eat away at your cash you are pulling out. on a positive note, you definitely have the right idea here it just may take a bit longer if your property has not appreciated much yet or you have not paid it down enough yet.

If I break it all down time wise, it eats up his deposit and then some. 

Seems like all the little tasks would eat up a lot of timeCleaningInspecting the unit for damageCheck in check out, KeysIs anyone leveraging technology to mange their properties?

These are yearly costs, so, it's eating away one month of rent a year.