Updated almost 13 years ago on . Most recent reply
Today's Market
I have a few questions about today's market...
1. How much do you seasoned investors usually pay and then proceed to rent the house out for? I am talking about today's market... not the one where you were getting houses for half off. I am just curious how much house I would need, for instance, to get a $1000/mo rent today in a good neighborhood.
2. Is it better to pay cash or to borrow to leverage your money? Would a good strategy be to buy a few properties with down payments and pay the ones off that are returning good cash flow provided you have the cash to do so?
3. Do you rely on sites like Zillow to start your home search or do you immediately contact a broker and give them your intentions?
I am very new and have never purchased a home but I have the cash to do it, I'm just wondering how much I really need. I am not concerned with the absurd 10-20% net returns that some are getting. I am fine with 6-8% honestly. I know I can get this in the stock market but the idea of owning property appeals to me more.