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Investment property FM Grapevine Coppell

Posted 03-24-2016 at 11:53 AM by CzechGrazer
Quote:
Originally Posted by macjoubert View Post
How do you determine rent based on your purchase price? Thats new to me.
You don't determine rent. You do analysis and see what the market rent would be relative to the sales price to see if it is a logical purchase for a rental. I get nice rentals (not duplexes, etc) in nice neighborhoods and am able to get about 1.1% of total cost (sales price + refurb) in monthly rent.
So, for a house that takes $150k to buy, I need to get at least $1650 in rent. If I can't, I move on.

Again, I fail to see what $1 per sq foot as to do with anything. You are neglecting purchase price in your equation. If you buy something for 150k and rent it for $1650 a month, who cares how many square feet it has?
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