I wish I could find the 1% in my local CA market! :)
The property is OOS- in Tennessee.
Who cares if it doesn't pass the 1% rule. That ridiculous rule has sunk, never to be seen again...or should have. Forget percentages as a guild/rule when making decisions. They tell you nothing of value, and lie to you while doing so. Look at the numbers that matter, the ones with $$$$$ in front, and base all of your decisions on those numbers...ONLY.
Investor · Monterey Area, CA · Member since 2011 · 150 posts · 81 votes
5y
@Matthew Drouin
All excellent points- the tax advantages to the seller are one that I highlighted. As well as asking what their intentions were with the funds they get from the sale. If they are going to purchase a CD for
“Safety”, then a 4-5% rate from me is a no brainer!