Updated over 11 years ago on . Most recent reply
Optimal Rental Properties to Purchase
Hi all,
I am looking at buying a rental. What is the sweet spot for a rental? I would assume 3 beds/2 baths but just want to check. Also, is it better to buy a newer home(less than 10 years old) or buy an older one? I am assuming there will be positive cash flow with both. Let me know your thoughts.
Most Popular Reply
@Benjamin Andrew Pogue there are so many things that we could talk about here ... but the short answer is, it depends.
What does the market tell you? Are there units that rent that are 2/1's ... whats the most predominant unit age wise, and what are they selling for, and what are they renting for. Most of the properties I buy were built in the 50s- 70s so we always have things to fix up, but we also buy with a lot of equity and buy for cash flow.
Have to develop your business plan, and then do homework, and then purchase, accordingly!
Good luck.