Updated about 9 years ago on . Most recent reply
First time in the market for rental property
Hi, I'm a complete newbie and interested in purchasing rental property for monthly cash flow. I've read books in the matter yet I still don't quite understand how do you valuate property whether it is a good investment or not? I understand you can check local advertisement to see what the rental properties are going for and meet with a real estate agent to brainstorm. And then there's the 1% rule (rent = 1% for property cost) Apart from these steps, what are the steps a pro does when they are in the market to buy rental property. My budget is $75,000 and would like to get at least two properties with this amount. I'm looking to buy two properties per year going forward.