Buy and Hold and the 1% rule?
I'm just curious about buying and holding properties while renting them out. In most everywhere in the US, you cannot rent a property for at least 1% of the value. In Denver, you can buy a $400k property and get no where near $4k/month in rent. In Colorado Springs, you can get a $200k property and rent it for $1k/month.
I find it like this most in the country until you get into lower income areas in Missouri and Florida. Is anyone in Colorado using the buy and hold strategy to build wealth?
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@Ryan Jones Its possible, you just have to find the deals. I have properties in Greeley, Fort Morgan, and even Denver that all meet the 1% rule and some 2%. Be patient and buy the ones that make sense. Flip the rest and build cash for down payments.