Rent to purchase price for under 180K

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  • Rob HowardPro Member
    Knoxville TN, USA · Member since 2023 · 62 posts · 42 votes
    1y

    Where are you thinking of buying that can get a home around that price? In Knoxville those homes usually need extensive repairs - unless they are studio condos in not very attractive markets. Here such a creature would rent in the $1,300-1,600 range, but with some reno and cosmetics it would quickly move closer to the 1% per month golden rule. Remember that you’re one one rent raise from turning most properties profitable.

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  • Rob HowardPro Member
    Knoxville TN, USA · Member since 2023 · 62 posts · 42 votes
    1y

    I completely mis-read your question. Sorry. Rent-to-own is a unicorn here too. I know some investors here look toward central Alabama and Missouri for properties like that. 

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  • Greg ParkerBusiness Member
    Realtor, Contractor, Property Manager · Montgomery AL and Kowaliga, AL · Member since 2017 · 670 posts · 536 votes
    1y

    https://www.biggerpockets.com/markets?market=Montgomery%2C%2...

    [email protected]
    MGM Property Pros LLC
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