2% Rule?
I have a few rental properties as of now and I am looking to purchase another one in the near future. However since I became a member of BP I have read a lot about the 2% rule and out of my 5 rentals, not one of them meets that rule and I have not come across anything that looks to meet that criteria. I am in the Phoenix Market and would love for someone to show me a property that rents for 2% of the price. I always looked at cash on cash and tried to hit 20% return on cash, but I am interested to hear any examples of homes that people have bought or any that they know of for sale that meet the 2% rule.
Please don't tell me about the house that you bought for 35K in 2010 or 2011 that rents for $700. I am more looking for examples in todays market.
Thanks!!!