Is my area even worth it?
Hi everyone,
I'm currently looking to purchase an owner occupied 4 plex in the salt lake area. The prices for your run of the mill 4 plex here are on average upwards of 300k with rents coming in around 700 - 750 or so. I hear people in the podcasts talking about getting 2% of the purchase price in rents but given prices here in Utah, I wouldn't even be getting 1%! And that's with me not even living in it. Obviously each deal has to be evaluated individually, but is it even worth looking if a property won't produce 1%?