Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
17y
I have several homes I rent out for $750. They are all brick,under 10 years old, 3br-2bat and a single garage. This is sw Texas. I have just under 40 sfrs and am 100% full with a waiting list. Things are great here. More renters than ever before. Rich.
Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
16y
Posted: 06/11/2009 at 07:06AM 1 vote
The following users voted for this post: Jon Klaus
I have several homes I rent out for $750. They are all brick,under 10 years old, 3br-2bat and a single garage. This is sw Texas. I have just under 40 sfrs and am 100% full with a waiting list. Things are great here. More renters than ever before. Rich.
This thread is a year old. I reposted a 6-2009 post of mine. Still the same. I wonder what is happening in other locations a year later? Lots of pressure downward on rental rates. Rich
Real Estate Investor · Cincinnati, OH · Member since 2008 · 172 posts · 37 votes
16y
$750 will get you a single story 2 or 3 bedroom with 1 or 1,5 bathroom in a decent working class neighborhood in Cincinnati. Those houses only cost 30-40k if you're buying right. I once brought a 3 family foreclosure for 20k and rented it out for $1,500. Pretty good cashflow.
Investor · Mableton, GA · Member since 2009 · 1k+ posts · 465 votes
16y
Ok, so here is an update. Back in September last year one of my guest units here in Southern Cali got vacant. The unit was previously rented for $1,300 a month. After couple of months advertising, I manage to rent it for a reduced rent at $1,160. Today, I issued an eviction notice to the tenant after not receiving April rent (The tenant substituted the rent with excuses).
I have another unit that was rented until December 09 for $995. I could not find a tenant for that price and at this point, it is not rented. My wife's son is moving in...
My four section 8 SFRs in Alabama are strong so far. My two SFRs in Texas are killing me since the taxes went up big time and I hope to be able to raise rent a bit to offset some of it. Oh well,,, such is life...
$750? In Bend Oregon, which is a ski resort town, you can get a 3 bedroom, 2 bath in a middle class neighborhood, on a small lot. Probably a garage, dishwasher, laundry hook ups. Or a decent duplex.
That house would have brought 900-950 a couple of years ago.
My last vacancy had the rent dropped from $850 to $650 before I even got any phone calls, and I only got 2 lookers. Fortunately one of them wanted the house and qualified (barely). That's a 2 bed 2 bath 1350 sq ft on 1/3 acre, 1/2 a block from the river right where there are a lot of recreational activities.
There are simply no renters out there, no matter what the rent price is.
In Central Texas I can get a decent 2 bed 2 bath apartment or in my case a little bit older 2 bed 1 bath duplex (I gave up the newer place and extra bathroom for a huge backyard.)
Real Estate Consultant · Lansing, MI · Member since 2010 · 117 posts · 32 votes
16y
Originally posted by Pam Hudson:
Looking forward to seeing if $750 / month can get any decent housing to rent in different parts of the country / world!
What can you rent for $750 in your city?
In Lansing, Michigan $750 will get you a very nice two bedroom apartment and depending on where you look a small two bedroom or three bedroom house as a rental property.